Tag: Pune

IndustryLatest Stories

Pune: Property Tax Discounts for Green Buildings Double in 6 Years

PUNE: The Pune Municipal Corporation (PMC) recently released its Environment Status Report (ESR), highlighting that the number of beneficiaries receiving discounts on property tax for adhering to green building norms has doubled over the past six years. This raises a critical question: Are these positive outcomes visible on the ground? Citizens, activists, and experts are calling for improved oversight of compliance by local authorities. The ‘green discount’ offers property owners a 5-10% reduction in property tax if they have installed solar and vermicomposting systems. According to PMC’s ESR, around 86,000 property owners benefitted from this incentive in 2019-20, which surged…

CommercialLatest Stories

IndiQube Falls 15% in Trading Debut on July 30

Shares of IndiQube Spaces dropped nearly 15% on their trading debut on Wednesday, as broader markets remained subdued ahead of an impending U.S. tariff deadline. This scenario values the Indian workspace solutions provider at ₹44.13 billion ($506 million). IndiQube’s debut is notable among a dozen Indian IPOs this month, being only the second to list at a discount. The firm raised $80.3 million through an IPO that was 12.4 times oversubscribed last week, showing strong demand from both retail and institutional investors. Its shares opened at a 9% discount to the IPO price of ₹237 in Mumbai and were down…

IndustryLatest Stories

Kolte-Patil Developers reports ₹16.88 crore net loss in Q1 FY26

NEW DELHI: Kolte-Patil Developers has reported a net consolidated loss after tax of ₹16.88 crore for the quarter ending June 30, 2025. This reflects a downturn from the profit after tax of ₹6.37 crore recorded in the same quarter of the previous fiscal year, according to a filing with the BSE. The company’s net consolidated income for Q1 FY26 was ₹96.81 crore, a significant drop of 72.37% compared to the ₹350.39 crore reported in the same period last year. As of June 30, 2025, the company’s net worth was ₹1,233.65 crore. Its current liability ratio stood at 0.99, while the…

Latest StoriesResidential

Pune Tenant Registrations Drop, Seven Police Stations Missing from Portal

Representative image created by AI Residents in rapidly developing areas like Ambegaon, Nanded City, Baner, Kharadi, Wagholi, Kalepadal, and Phursungi are encountering challenges with online registration of leave and license agreements for tenancy. This is due to the lack of integration of seven new police stations into the official e-registration portal. The portal, designed to simplify tenancy registrations by associating submissions with the correct police jurisdiction, still lists only 33 police stations instead of the updated 40. Consequently, tenants are being mapped to incorrect police entities, causing confusion and potential legal issues. “If a document is sent to the wrong…

Latest StoriesRera

MahaRERA Lists 1,244 ‘Under Abeyance’ Projects in Pune

Representative image created by AI PUNE: The Pune district is facing a significant issue with 1,244 real estate projects currently under ‘abeyance’ as designated by MahaRERA, disallowing any new bookings or sales. This status indicates that these projects have either not received completion certificates or have failed to secure deadline extensions, leaving many buyers with their investments in limbo. One impacted buyer, an IT professional after 11 years, has yet to take possession of his apartment in a project located at the Sinhagad foothills. Despite several favorable orders from MahaRERA, the project remains incomplete, and a refund has not been…

IndustryLatest Stories

Property Owners Hope for Regularisation as Maharashtra Scraps Act

PUNE: Thousands of property owners under the Pune Municipal Corporation (PMC) and other civic bodies are expected to receive relief as the government has repealed the Maharashtra Prevention of Fragmentation and Consolidation of Holdings Act (amended in 2015), commonly referred to as the Tukde Bandi law. This legislation imposed restrictions on subdividing land into smaller plots. Revenue Minister Chandrashekhar Bawankule announced during a recent assembly session that the state will now regularize land divisions of up to one guntha (1,089 square feet) made before January 1, 2025. This change will allow property owners to obtain registrations, building permits, and legal…

Latest StoriesRera

Bombay HC Orders Maharashtra RERA to Reinstate Hybrid Hearings

MUMBAI: The Bombay High Court has ordered the Maharashtra Real Estate Regulatory Authority (MahaRera) to reinstate hybrid hearings within four weeks. This will allow parties to choose between physical or virtual appearances. “Access to justice includes the right to appear in person, not just virtual access,” stated Justices Revati Mohite Dere and Neela Gokhale. A petition filed by Mayur Desai requested the court to expedite the resolution of execution and non-compliance cases pending since March 2024 and to reinstate hybrid hearings, a practice in place before the Covid-19 pandemic. MahaRera’s attorney mentioned that parties wishing to attend in person could…

CommercialLatest Stories

EFC (I) reports Q1 FY26 net profit of ₹46.67 crore

NEW DELHI: Pune-based EFC (I) has announced a remarkable 195.94% rise in its net consolidated profit for the quarter ending June 30, 2025. The company’s profit after tax (PAT) reached ₹46.67 crore in Q1 FY26, compared to ₹15.77 crore during the same quarter last year, as reported in a BSE filing. The net consolidated total income for the company stood at ₹223.25 crore in Q1 FY26, reflecting a growth of 112.05% from ₹105.28 crore recorded in the corresponding period last year. In the leasing segment, EFC (I) added 145,000 sq ft of space in Q1 FY26, which equates to an…

Latest StoriesResidential

Maharashtra Housing Policy: Homes for All, Slum-Free State

Representative image created by AI MUMBAI: The Maharashtra government’s new housing policy, “My House, My Right,” aims to provide affordable housing for all, redevelop older buildings, and transform slums through public-private partnerships. A Government Resolution for this policy was approved by the state cabinet in May and was released by the Housing Department on Wednesday. The government anticipates an investment of Rs 70,000 crore during the policy’s implementation. With a focus on “Housing for All,” the policy aims for a slum-free state, prioritizing economically weaker, lower-income, and middle-income groups. The government plans to construct 3.5 million houses over five years,…

IndustryLatest Stories

Nisus Finance Invests ₹115 Cr in Kumar Vibe, Mumbai & Pune

NEW DELHI: Kumar Vibe Properties, a 50:50 joint venture between Kumar Properties & Infrastructure LLP and Vibe Realty, has successfully secured an investment of ₹115 crore from Nisus Finance, marking a key milestone in its growth. The funds will be directed toward three projects in Khar West and Goregaon West in Mumbai, as well as NIBM in Pune. The residences are expected to be priced at ₹7 crore and above in Khar West, ₹3 crore to ₹4.25 crore in Goregaon West, and up to ₹1.25 crore in NIBM Pune. Collectively, these ventures will generate a total topline exceeding ₹1,100 crore.…