Tag: Pune

Latest StoriesRegulatory

Pune Police File FIR Against Runwal Group MD in Land Dispute

PUNE: On Thursday, Pune City Police filed an FIR against Subodh Runwal, Managing Director of Runwal Group, and six others, following a court directive linked to a land dispute in Viman Nagar, Pune. The FIR is lodged at Vimantal Police Station against Subodh Runwal, Ashutosh N Navare, Lucy Roy Chowdhury, MB Agarwal, and three others under various sections of the Bharatiya Nyaya Sanhita (BNS), as reported by officials. This action stems from a directive issued by Judicial Magistrate First Class Dr. DR Dornalpalle on May 16 under Section 175(3) of the Bharatiya Nagarik Suraksha Sanhita (BNSS), instructing the police to…

Latest StoriesResidential

Register Rental Agreements Online: Simplify with Maharashtra’s Help

PUNE: The registration department is advising property owners to execute registered leave-and-licence agreements instead of relying on notarized rental agreements. They warn that unregistered agreements could lead to legal complications, particularly during police verifications and tenancy disputes. According to officials, registered online agreements provide stronger legal standing and are seamlessly integrated with police records through the Crime and Criminal Tracking Network and Systems (CCTNS). “Once a leave-and-licence agreement is registered online, tenant details are automatically shared with the police. Property owners do not need to submit them separately,” explained Abhaysinh Mohite, Deputy Inspector General (IT) of the registration department. He…

CommercialLatest Stories

Pune Office Leasing Declines, Rents Rise Amid Supply Shortage

PUNE: Demand for office space in Pune saw a decline in the first quarter (January-March) of 2026, with net absorption dropping to 1.1 million sq. ft. from 2 million sq. ft. in the same period last year, according to Anarock data. Experts believe this decrease stems from the strong leasing activity in 2025, rather than a structural slowdown. P. Vilas, head of operations at Knight Frank India’s Pune branch, mentioned that although leasing has slowed down, Global Capability Centers (GCCs) still play a significant role in driving demand, accounting for 55% of Pune’s office market, well above the 47% average…

IndustryLatest Stories

Kolte-Patil Reports FY26 Net Loss of ₹38.08 Crore

NEW DELHI: Kolte-Patil Developers (KPDL) reported a net consolidated loss after tax of ₹38.08 crore for the financial year 2025-26. This marks a significant decline from a profit after tax of ₹109.33 crore achieved in FY25, according to a filing with the BSE. In FY26, the company’s net consolidated total income was ₹802.50 crore, a decrease of 54.50% from ₹1,763.73 crore in FY25. In Q4 FY26, net consolidated total income fell by 63.75%, totaling ₹262.16 crore, compared to ₹723.20 crore in the same quarter of the prior year. The company reported a loss after tax of ₹66.29 crore for Q4…

Latest StoriesResidential

Seven Pune colonies slated for redevelopment, residents notified to vacate

PUNE: The civic authorities have initiated plans to redevelop municipal colonies that have deteriorated over the decades. Notices have been issued to residents of seven housing complexes across civic areas, requesting them to vacate their homes for the rebuilding process. Officials from the Pune Municipal Corporation (PMC) reported that approximately 1,900 flats are in unsafe conditions, emphasizing that residents must relocate. Priority will be given to 288 houses during the redevelopment initiative. Plans are currently in discussion, with the project potentially being executed by PMC itself or through a build, operate, and transfer model, possibly involving a private developer. Residents…

IndustryLatest Stories

Pune: Property Prices May Jump ₹250-300/SQ FT Amid Supplier Hike

PUNE: Homebuyers in Pune may face rising property prices following a proposed rate hike by ready-mix concrete (RMC) suppliers for various concrete grades on May 9. Experts suggest that this increase could elevate construction costs by Rs 250-300 per square foot. “While some developers may absorb part of the costs for ongoing projects, new launches will likely pass the added burden on to buyers,” commented Nitin Deshpande, president of the Marathi Bandhkam Vyavasayik Association. The Pune RMC Association previously halted operations on April 16 due to coordination issues with the Maharashtra Pollution Control Board (MPCB), Pune Municipal Corporation (PMC), and…

IndustryLatest Stories

Nisus Finance invests ₹90 crore in Realnet’s Hinjewadi project

NEW DELHI: Nisus Finance Services Co has invested ₹90 crore through its Real Estate Special Opportunities Fund-I (RESO-I) in Realnet Ventures, which is a fully owned subsidiary of Paranjape Schemes (Constructions). The residential apartment tower is being developed on 1.09 acres of land, offering a total saleable area of 4.02 lakh sq ft. It will comprise 188 units, including 3BHK (average area of 1,300 sq ft) and 4BHK (average area of 1,700 sq ft) configurations. The project has a gross development value (GDV) of ₹370 crore and is projected to generate an operating surplus of ₹143 crore. Located within Blue…

InfrastructureLatest Stories

Maharashtra Approves Land Handover for Mula-Mutha Project

Representative AI image PUNE: The state government approved the transfer of three land plots adjacent to the Mula-Mutha river for the Riverfront Development Project (RFD) on Thursday. A total area of 52,851 sqm will be transferred to the Pune Municipal Corporation (PMC) as per the decision made during a state cabinet meeting. The land parcels comprise an 11,015 sqm section between Sangamwadi Bridge and Bund Garden Bridge, a 34,128 sqm area at the Mundhwa Botanical Garden, and an additional 7,700 sqm plot in the Mundhwa area, currently owned by the Women and Child Welfare Department. Mayor Manjusha Nagpure expressed support…

InfrastructureLatest Stories

PCMC Cuts Water to 24 Housing Societies Over STP Issues

PUNE: The Pimpri Chinchwad Municipal Corporation (PCMC) has suspended water supply to 24 housing societies this month due to their failure to operate sewage treatment plants (STPs), despite multiple warnings. Additionally, 16 housing complexes have been fined ₹10,000 each for discharging wastewater into stormwater drains. PCMC has issued a warning that more housing societies may encounter similar penalties if they do not adhere to regulations. According to civic regulations, residential complexes with over 100 flats or a total built-up area exceeding 20,000 sqm are required to install STPs, treat sewage on-site, and reuse the treated water for non-potable purposes such…

IndustryLatest Stories

Maharashtra Plans Property Cards with Valuation for All Plots

Representative AI image PUNE: The Maharashtra state government is drafting a Land Titling Act that will mandate property cards for all land parcels, as stated by Revenue Minister Chandrashekhar Bawankule in Pune on Sunday. This card will not only include essential details but will also indicate the property’s value. A property card, or malmatta patrak, serves as the official land record document issued by the city survey department for urban areas. Currently, it is the primary legal proof of ownership for urban properties, encompassing all details about the owner, property size, location, and transaction history. For rural areas, a 7/12…