Tag: Pune

Latest StoriesRegulatory

Bombay HC Rejects Plea on Mulshi Land for Housing Project

PUNE: The Bombay High Court ruled that the state has the authority to repurpose gairan lands—government-owned communal land designated for free grazing of village livestock—for public projects by the central or state governments. This decision was made under Section 40 of the Maharashtra Land Revenue Code (MLRC), which takes precedence over other provisions. A bench of Justice Manish Pitale and Justice Shreeram V Shirsat dismissed a writ petition from the gram panchayat of Nere village in Mulshi taluka and two villagers, challenging the district collector’s orders from June 13, 2025. These orders involved allocating two gairan land parcels of 4…

Latest StoriesResidential

Celebrity Homes: A Rising Trend, ETRealty

MUMBAI: Bollywood actor Ranbir Kapoor has acquired a total of 25.7 acres of land in Pune’s Mulshi taluka through four separate transactions for over Rs 16.42 crore. The acquisitions include four adjacent parcels in Village Pimpri, Mulshi, a region that has seen the rise of luxury second homes, private estates, and hospitality projects in recent years. The largest parcel, measuring 10.8 acres, was purchased for Rs 7.08 crore. Kapoor also bought a 7.4-acre parcel for Rs 4.62 crore, a 5.3-acre parcel for Rs 3.32 crore, and a 2.2-acre parcel for nearly Rs 1.40 crore. The total stamp duty for these…

CommercialLatest Stories

Smartworks Leases 930+ Seats to Pune Professional Firm

Representative AI image NEW DELHI: Smartworks Coworking Spaces has secured a lease for over 930 seats in Pune with the Indian subsidiary of a UK-based global professional services and technology firm. This agreement brings the client’s total seat count with Smartworks to more than 1,730. The 60-month contract is projected to generate committed rental revenue of approximately ₹58 crore. When combined with the existing agreement, the total rental commitment is expected to reach around ₹102 crore. Clients with 300 or more seats contribute about 69% of the company’s rental revenue, maintaining an average tenure of approximately 47 months. Multi-city clients…

Latest StoriesResidential

Pune PMC Warns Bavdhan Society Over Missing Stormwater Drains

PUNE: The Pune Municipal Corporation (PMC) has attributed the persistent waterlogging in the gated Nisarg Society, located in Bavdhan, to the lack of a stormwater drainage system and rainwater harvesting infrastructure. Following this, PMC has issued a notice to the society for the installation of these essential facilities. The society is now required to hire a consultant to implement stormwater drains and rainwater harvesting solutions. The notice also states that the society and the property owners will bear the responsibility for any issues arising from inadequate rainwater management. Residents and the managing trust of the township have contested this directive,…

CommercialLatest Stories

India Office Leasing Reaches 24.6M Sq Ft in Q2 2026

Representative AI image NEW DELHI: According to a report by CBRE South Asia, India’s office market reported gross leasing of approximately 24.6 million sq ft in Q2 2026, while new completions for the quarter reached around 21 million sq ft. The report indicates that total office absorption rose by 18% quarter-on-quarter and 14% year-on-year in Q2 2026, with supply increasing 91% sequentially and 18% year-on-year. In the first half of 2026, office absorption totaled roughly 45.5 million sq ft, while supply was about 32 million sq ft. In Q2 2026, flexible space operators emerged as the leading occupier segment, representing…

IndustryLatest Stories

No Misuse of Flats, TDR in Kothrud SRA: Maharashtra Minister

PUNE: On Friday, State Cabinet Minister Shambhuraj Desai clarified that there had been no misappropriation of flats or fraudulent transfers of Development Rights (TDR) in the Kothrud Slum Rehabilitation Authority (SRA) project. Desai was responding to a question from MLA Sunil Kamble, representing the Pune Cantonment constituency, who alleged that fraudulent TDRs and fake beneficiaries were being recorded for the Kothrud SRA project. Kamble called for an investigation into the wrongful allocation of additional TDR in the scheme. Kamble pointed out that questionable electricity bills, ration cards, and other documents belonging to fictitious beneficiaries had been generated. These were used…

Latest StoriesRegulatory

NCDRC Orders Pune Builder to Refund ₹7 Crore for Land Issue

PUNE: The National Consumer Disputes Redressal Commission (NCDRC) has mandated a real estate firm and its proprietor to refund the complete principal amount collected from 113 homebuyers, along with interest. This decision follows a 14-year legal battle, with total liabilities expected to surpass Rs7 crore. The commission discovered that the developer enticed buyers to invest in projects on land that government records indicated had been designated for a public irrigation project since 1978. The NCDRC panel, including President Justice A.P. Sahi and Member Bharatkumar Pandya, ordered the builder to refund Rs3.16 crore with 9% interest from the payment dates, to…

Latest StoriesResidential

Maharashtra Updates: Online AGMs & 12% Cap on Maintenance Fees

PUNE: Housing societies across Maharashtra can now conduct annual general meetings (AGMs) online, with interest on maintenance arrears capped at 12% annually, due to the new Maharashtra Cooperative Societies (Amendment) Rules announced by the state government on Tuesday. The detailed provisions include registration, membership, nominations, inheritance, maintenance charges, redevelopment, financial management, and the functioning of managing committees. This notification marks the implementation of the housing society chapter added through amendments to the Maharashtra Cooperative Societies Act in 2019, concluding a nearly seven-year wait. Cooperation commissioner Deepak Taware stated that the new rules will enhance the operations of housing societies. “Following…

CommercialLatest Stories

TEC Leases 19K sq ft to Forescout; WeWork Adds 536 Desks in Hyderabad

Sure! Here’s a rewritten version of the content you provided: NEW DELHI: The Executive Centre (TEC) has secured a lease for approximately 19,000 sq ft of office space at its location in Panchshil Business Park, Balewadi, Pune, for Forescout Technologies. This space is designed to accommodate around 200 workstations. Forescout has been a client of TEC since 2022, initially starting in a 50-seat workspace. The newly expanded office features a dedicated reception area, multiple meeting rooms, private cabins, a training room, open workstations, collaborative zones, and a town hall area. In a separate development, WeWork India Management has signed an…

InfrastructureLatest Stories

Pune: Draft Development Plan for Merged Areas Approved

PUNE: During the civic body’s general meeting on Monday, a proposal was approved to initiate the draft development plan (DP) for 23 regions merged with the Pune Municipal Corporation (PMC) in 2021. The proposal also designated city engineer Aniruddha Pavaskar as the town planning officer tasked with overseeing the DP. This measure received unanimous support from corporators, who urged the administration to expedite the DP preparation. The formation of the DP for these 23 merged areas has encountered various technical hurdles over the past five years. An initial DP drafted by the PMRDA was canceled by the state government for…