Tag: Pune

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.…

IndustryLatest Stories

Residents Seek FSI Clarity Post Pune-Khadki Merger Approval

PUNE: Residents and civic activists are seeking clarity on future floor space index (FSI) regulations in Pune and the Khadki cantonment areas after the state government’s approval to merge them into the Pune Municipal Corporation limits. The cantonment boards have proposed a maximum FSI of 1 for the merged areas, which is an increase from the current 0.5 FSI in the cantonment regions but lower than the PMC’s range of 1.1 to 3. The boards stressed that any removal from their jurisdiction should not allow for unrestricted FSI. PMC Commissioner Naval Kishore Ram stated in an interview with TOI, “FSI…

Latest StoriesResidential

Housing Societies Face NA Tax Dilemma Without State Resolution

PUNE: Nearly ten months after the state cabinet announced the abolition of the non-agricultural (NA) tax for urban housing societies, confusion continues due to the lack of a formal government resolution (GR). The management of housing societies across the state is uncertain whether to keep paying the tax until official guidelines are issued. The cabinet, led by Eknath Shinde, approved the removal of the NA tax in October 2024, just before the state assembly elections, aiming to relieve residents in urban areas like Pune and Mumbai who have been paying both property tax and NA tax. Housing societies have since…

Latest StoriesRera

Maharashtra Minister: RERA Can Act Against Developers

MUMBAI: Maharashtra Minister Uday Samant informed the assembly on Thursday that the Real Estate Regulatory Authority (RERA) has the authority to enforce actions against developers for any violations. Responding to a calling attention motion raised by MLA Gajanan Lavate, he emphasized that registration under RERA is a mandatory requirement for all developers. Complaints concerning building permissions in the Akot Municipal Council area were addressed during a hearing on December 7, 2022, held at the Akola District Collector’s office. The minister mentioned that the applicant requested construction permission on March 31, 2021, including documents related to land demarcation (gunthewari) from 2007-08.…

IndustryLatest Stories

Minister: Rent Deals with Redevelopers Now Valid for Passports

MUMBAI: The Centre has prepared Standard Operating Procedures (SOPs) for police verification needed for passport applications. However, the Maharashtra government is addressing concerns raised by citizens whose residential buildings are undergoing redevelopment, according to a minister’s statement on Wednesday. During an assembly session, Minister of State for Home, Yogesh Kadam (Urban), emphasized that verifying addresses for passport applications is a national security issue. This process requires confirming the applicant’s identity along with any pending criminal cases. It is important to note that police verification for issuing passports occurs at the applicant’s registered address. The redevelopment of older buildings can cause…

Latest StoriesResidential

Shapoorji Pallonji Plans Residential Project in Bavdhan, Pune

NEW DELHI: Shapoorji Pallonji Real Estate (SPRE) has unveiled its latest residential project, Vanaha Verdant, located within the expansive 1,000-acre integrated township of Vanaha, close to Bavdhan, Pune. The new development spans five acres and will provide around 10 lakh sq ft of saleable area, with a projected revenue potential of ₹800 crore. To date, SPRE has successfully sold over 2,000 apartments valued at ₹1,800 crore across its mid-segment (Yahavi and Springs) and premium offerings (Golfland phase 1 & 2) within the township. Published On Jul 16, 2025 at 11:30 AM IST Join over 2 million industry professionals. Subscribe to…

IndustryLatest Stories

Property Tax Suspension Continues in Pune Merger Areas

PUNE: Madhuri Misal, the Minister of Urban Development, clarified on Tuesday that there has been no coercive tax collection from residents in areas merged into the Pune Municipal Corporation (PMC) territory, and this process has been temporarily halted. Misal was responding to queries from Khadakwasla MLA Bhimrao Tapkir, who expressed concerns about the proposed property tax structure. Tapkir noted that the new rates set by PMC significantly exceed the previous panchayat fees, leading to dissatisfaction among locals. Furthermore, some residents reported receiving inaccurate and inflated tax bills. Misal assured that there were no mandatory compliance measures from the administration; some…

InfrastructureLatest Stories

CM directs UDD to fast-track Maan-Mhalunge TP scheme clearance

PUNE: During a recent review meeting on civic and infrastructure matters, Chief Minister Devendra Fadnavis directed the urban development department to expedite the clearance of the Maan-Mhalunge town planning scheme in Hinjewadi, according to senior officials from the Pune Metropolitan Region Development Authority (PMRDA). “The CM specifically instructed department officials to address the delays and ensure the proposal is processed without further setbacks,” said a senior PMRDA official who attended last week’s meeting. The PMRDA has received technical approval for four of the six proposed town planning schemes from the urban development department (UDD), but government notifications are still awaited.…

IndustryLatest Stories

Maharashtra panel suggests 10% extra area for self-redevelopment

MUMBAI: A government-appointed committee has proposed a 10% increase in carpet area for residents of housing societies who choose the self-redevelopment scheme, aiming to encourage self-redevelopment. Self-redevelopment allows residents to manage the construction of their own buildings without a builder, retaining all construction benefits and profits that would normally go to developers. On Monday, BJP MLC Pravin Darekar submitted the committee’s report to Chief Minister Devendra Fadnavis at a function in Vidhan Bhavan. The recommendations will be passed on to the departments of housing, cooperatives, and urban development. “The proposal will be endorsed by the cabinet based on departmental suggestions.…

IndustryLatest Stories

Civic Body Gets 49,000 Feedback on Revised Development Plan

PUNE: The Pimpri Chinchwad Municipal Corporation (PCMC) has wrapped up the period for public feedback on its draft revised development plan. “We received 49,000 suggestions and objections from residents,” reported Prasad Gaikwad, deputy director of PCMC’s town planning department, to TOI. He further noted that a committee of civic officials and external experts will be assembled to review the submissions before finalizing the draft, which will be sent to the state government for approval. The draft was initially approved during a standing committee meeting led by municipal commissioner Shekhar Singh on May 16. In accordance with regulations, the draft was…