Tag: Pune

IndustryLatest Stories

NOC Required for Work Near Pune Metro Tunnel (20m Radius)

Representative AI image PUNE: Maha Metro has mandated that builders and property owners secure a No Objection Certificate (NOC) before commencing any construction within 20 meters of a Metro viaduct or tunnel. This regulation aims to guarantee that surrounding development does not jeopardize the structural integrity of the transit system. Failure to obtain this clearance prior to initiating construction will result in severe repercussions, including potential legal actions and financial liability. A Maha Metro official informed TOI that the requirement for an NOC before construction activities is already stipulated under the Metro Railways (Construction of Works) Act and the Unified…

Latest StoriesResidential

Pimpri Chinchwad Residents Demand Action on Water Supply Issues

PUNE: Numerous housing societies in Pimpri Chinchwad are urging the civic authorities to take stringent measures against developers who have allegedly failed to provide water supply despite signed commitments. Residents referenced recent directives from the divisional commissioner, which cautioned builders against legal ramifications if they do not fulfill their water supply obligations until the municipal network is established. This issue was highlighted during a recent ward-level meeting held by the water supply department for A and K wards. The Chikhali-Moshi Pimpri Chinchwad Housing Societies Federation has insisted that developers promptly reimburse the costs incurred by residents for private water tankers…

Latest StoriesResidential

Ashiana Housing Acquires 28.55 Acres in Pune for Senior Homes

Representative image NEW DELHI: Ashiana Housing has acquired 28.55 acres of land in Pune to develop a senior living housing project, expected to generate revenue of approximately Rs 1,800 crore. The company confirmed in a regulatory filing: “We have acquired approximately 28.55 acres of land on an outright purchase basis in Pune, Maharashtra.” “This marks the largest land deal by our company for a Senior Living project. The estimated saleable area is 20 lakh sq ft, with a sales value potential of Rs 1,800 crore,” the filing added. Ankur Gupta, JMD of Ashiana Housing, mentioned that the company is aiming…

InfrastructureLatest Stories

PMRDA Requests Clarity from Maharashtra on Maan-Mhalunge Planning

PUNE: The Pune Metropolitan Region Development Authority (PMRDA) is seeking guidance from the state’s Urban Development Department (UDD) regarding the execution of the Maan-Mhalunge Town Planning Scheme (TPS-1). There is uncertainty whether the project will remain with the PMRDA or be taken over by the Pune Municipal Corporation (PMC) following the merger of Mhalunge village. Officials have stated that a definitive decision from the state is necessary as the documentation for the 250-hectare scheme is nearing its final stages, ready for implementation. Senior PMRDA officials mentioned that a formal request has been made to the UDD for clarity on the…

InfrastructureLatest Stories

Maharashtra to Speed Up Land Surveys Using Private Firms

Representative Image NAGPUR: The Maharashtra government has announced a comprehensive revamp of land survey procedures, employing trained and licensed private surveyors in every district. This initiative aims to address the growing backlog and expedite development approvals. Revenue Minister Chandrashekhar Bawankule revealed the decision following a meeting with Chief Minister Devendra Fadnavis. The reform is intended to ensure the “accurate, timely, quality, and transparent” handling of land measurement cases. Consequently, an official government order outlining the operational framework has been issued. Under the revised system, land surveys will adhere to pre-determined schedules, with advance notices issued by the deputy superintendent of…

Latest StoriesRegulatory

Pune civic body falls ₹3,400 crore short of FY26 revenue goal

PUNE: The Pune Municipal Corporation (PMC) reported a total revenue of approximately Rs 9,200 crore for the fiscal year 2025-26, falling short of its Rs 12,600 crore target by nearly Rs 3,400 crore. The primary cause of this revenue deficit came from the building permissions department, which earned only Rs 2,341 crore, compared to its expected Rs 2,853 crore. Civic officials noted that challenges in recovering property taxes from newly merged areas and ongoing legal issues regarding land measurement have significantly hampered building permission grants. Activists criticized the administration for relying on amnesty schemes to boost revenue instead of effectively…

Latest StoriesRera

MahaRERA approves 1,060 housing projects; new ones near 50%

MUMBAI: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has approved over 1,060 housing projects statewide, with nearly half of the new registrations, even as developers request extensions on many ongoing projects. Out of the total approvals, 486 projects received registration numbers, while 426 projects were granted timeline extensions based on revised completion plans submitted by developers. Additionally, 148 projects were approved for corrections on previously accepted proposals, indicating a continuous adjustment within the project pipeline. The surge in approvals reflected increased activity in the 18 days leading up to Gudi Padwa, which is traditionally viewed as a favorable time for…

IndustryLatest Stories

Maharashtra Maintains Reckoner Rates for FY27

File Photo NEW DELHI: The Maharashtra government has decided to keep the ready reckoner (RR) rates unchanged for the financial year 2026-27. The Inspector General of Registration and Controller of Stamps announced that the rates, effective from April 1, 2026, will remain at FY26 levels. Revenue Minister Chandrashekhar Bawankule explained that this decision aims to alleviate any additional financial burden on citizens during property transactions. Sukhraj Nahar, President of CREDAI-MCHI, stated, “By not increasing RR rates, the government has ensured vital stability in the real estate sector, preserving project viability and avoiding hikes in statutory premiums and related costs linked…

IndustryLatest Stories

Kirloskar Realty Secures ₹1,150 Cr Loan from ICICI Bank

Kirloskar Industries’ real estate division, Avante Spaces, has secured a ₹1,150 crore term loan from ICICI Bank to support a Grade A office project in Pune’s Kothrud area, showcasing lenders’ ongoing interest in well-established urban developments. The funding for this 1.9 million sq. ft office project is organized in two tranches: ₹1,050 crore and ₹100 crore, with a repayment schedule of 44 months at an annual interest rate of 8%. The company has placed a mortgage on its land and all current and future constructions, securing the loan with approximately 7.25 acres of land across Plots A, C, and D…

IndustryLatest Stories

Pune: Talathi, Officer Block Mutation Plea Due to Lapses

PUNE: The inquiry report on the Mundhwa land issue, led by Vikas Kharge, reveals that local revenue officials, including the talathi and circle officer, initially identified irregularities in the contentious sale and halted the mutation in their records. However, procedural oversights and a lack of notification to higher authorities later compromised scrutiny. The report indicates that approximately 45 acres of government land, identified as survey no. 88 in Mundhwa, was registered on May 20, 2005, at the Haveli sub-registrar’s office in favor of Amadea Enterprises LLP for ₹300 crore, encompassing 17 hectares of land. On May 21, 2005, partner Digvijay…