Tag: Pune

Latest StoriesResidential

Bain Capital, Colive, Sattva Group unveil $100M co-living platform

NEW DELHI: Colive, a co-living platform, has teamed up with Bain Capital and Sattva Group to launch a co-living real estate initiative with an initial investment commitment of at least $100 million. Through this collaboration, Colive has also secured $20 million in funding to support growth and market expansion. The platform aims to acquire land, establish communities, and provide purpose-built rental housing. Colive has successfully completed initial land purchases in Pune and Bengaluru, with approximately 0.5 million sq ft of co-living spaces in development. Published On Sep 4, 2025 at 04:00 PM IST Join our community of over 2 million…

InfrastructureLatest Stories

Consent Secured for 50% of Land for New Purandar Airport

Representative AI image PUNE: The district administration has received letters from nearly half of the farmers whose land is designated for the proposed Purandar airport, just a week into the process. District Collector Jitendra Dudi stated that approximately 1,450 acres out of the revised airport area of 3,000 acres (1,285 hectares) have been approved for acquisition by farmers. “We have consent letters from nearly half of the farmers in the seven impacted villages,” Dudi remarked. Farmers from Pargaon, where most of the land is situated, previously protested vehemently against the project. Officials overseeing land acquisition confirmed that over 1,000 farmers…

IndustryLatest Stories

Maharashtra to Implement Favorable Real Estate Policies

NEW DELHI: Maharashtra is committed to developing infrastructure-related policies, including housing initiatives that adapt to evolving needs, as stated by Meghana Sakore Bordikar, Maharashtra’s Minister of State. She made these remarks during the Naredco 17th National Convention in Delhi. Niranjan Hiranandani, Chairman of Naredco, stressed that the housing and real estate sectors must expand at a minimum rate of 15% annually if India aims to achieve developed-nation status before the 2047 target year. Bordikar did not confirm any plans regarding the reduction of stamp duty in Maharashtra. She noted that while no immediate commitments can be made in that area,…

IndustryLatest Stories

Maharashtra to Set Discounted Property Tax Rate This Week

PUNE: The state government and Pune Municipal Corporation (PMC) officials are set to meet on Wednesday to finalize the future approach regarding property tax implementation at discounted rates in 32 merged areas. Residents from these merged areas are requesting that the state impose property taxes at reduced rates, arguing that the PMC has levied heavy taxes following the integration of these regions into municipal limits. Last year, the state government directed the PMC to levy “twice the property tax rate charged by the grampanchayat before the merger,” in response to citizen demands. However, PMC officials stated they could not comply…

IndustryLatest Stories

Pune Civic Properties at Risk Due to No GPS Mapping

PUNE: The Pune Municipal Corporation’s plan to map its 3,000 properties via GPS to protect them from encroachment remains unfinished even after five years. The initiative was launched in 2021-22, prompted by the discovery that a municipal community hall was being misused for weddings by a former corporator. A contractor was subsequently hired to execute the project, but activists report that it appears to have stalled. Vijay Kumbhar from Surajya Sangharsh Samiti, a citizens’ group, remarked, “The project has not delivered the desired results and seems to have been sidelined, especially as the civic body is initiating another round of…

Latest StoriesResidential

Mundhwa Residents Challenge Slum Rehab Plan in Pune

PUNE: Residents of Sarvodaya Cooperative Housing Society in Mundhwa have raised concerns about their unjust classification as a slum in the 2017 development plan (DP). They argue this mislabeling undermines their housing status and threatens their homes. The residents assert that their society’s land is inaccurately depicted as part of a nearby slum, leading to many being incorrectly identified as slum dwellers. This classification would subject 2 acres and 25 guntha of their land to the Slum Rehabilitation Authority (SRA). A complaint has been lodged with the SRA, and officials have stated that they will investigate the issue if necessary.…

Latest StoriesRera

Linking Property Registration with MahaRERA to Combat Fraud

Representative image created by AI PUNE: The state registration department is set to merge its property registration site with the MahaRERA portal to prevent fraudulent property transactions. This proposal will be discussed in an upcoming meeting with government agency representatives. Senior officials confirmed on Tuesday that this integration will allow sub-registrars to verify project RERA registration numbers in real-time prior to completing any transaction. “We have received approval for this process, which will be initiated following consultations. This move will verify project approvals and title statuses, ensuring that developers are RERA-registered before any property registration,” an official stated. Developer associations…

IndustryLatest Stories

Maharashtra’s Intra-District Property Registrations Top 60,000

PUNE: The state government’s initiative allowing citizens to register property at any sub-registrar office within their district has surpassed 60,000 registrations since its launch on May 1, officials reported on Tuesday. However, plans for inter-district registration are unlikely to materialize until next year. “There are technical and legal challenges that need to be resolved before implementing this statewide system. Stakeholders have expressed concerns, and significant changes are required in the software. Therefore, it won’t be possible to roll it out before next year,” said a senior official from the state registration department. A total of 60,694 documents have been processed…

Latest StoriesRegulatory

ED Arrests Galaxy Constructions Director in Bank Fraud Case

MUMBAI: The ED has taken into custody the director of a Pune-based real estate firm from a five-star hotel in Mumbai, along with Rs 9.5 lakh in cash and gold and diamond jewelry valued at Rs 2.3 crore in connection with a bank loan fraud investigation. Amit Ashok Thepade was arrested on Sunday at the luxury hotel in south Mumbai, where he had been residing for the past two months. According to the federal agency, a special Prevention of Money Laundering Act (PMLA) court has remanded him to ED custody for five days. The ED reported that Thepade, who had…

CommercialLatest Stories

360 ONE acquires 50% of Bluegrass Business Park for ₹2,400 Cr

Representative image created by AI NEW DELHI: 360 ONE Asset has acquired a 50% interest in Bluegrass Business Park from Brookfield Asset Management’s private real estate fund (Brookfield). The property, a two million sq ft office development located in Kalyani Nagar, Pune, was purchased for an estimated enterprise value of ₹2,400 crore (approximately $280 million). Occupying seven acres, Bluegrass Business Park includes a one million sq ft operational tower leased to Mastercard, alongside an office tower currently under construction that will feature street retail. Brookfield will maintain responsibility for the management, development, and leasing of the property. Shardul Amarchand Mangaldas…