Tag: Pune

Latest StoriesResidential

Pune Tenant Registrations Drop, Seven Police Stations Missing from Portal

Representative image created by AI Residents in rapidly developing areas like Ambegaon, Nanded City, Baner, Kharadi, Wagholi, Kalepadal, and Phursungi are encountering challenges with online registration of leave and license agreements for tenancy. This is due to the lack of integration of seven new police stations into the official e-registration portal. The portal, designed to simplify tenancy registrations by associating submissions with the correct police jurisdiction, still lists only 33 police stations instead of the updated 40. Consequently, tenants are being mapped to incorrect police entities, causing confusion and potential legal issues. “If a document is sent to the wrong…

Latest StoriesRera

MahaRERA Lists 1,244 ‘Under Abeyance’ Projects in Pune

Representative image created by AI PUNE: The Pune district is facing a significant issue with 1,244 real estate projects currently under ‘abeyance’ as designated by MahaRERA, disallowing any new bookings or sales. This status indicates that these projects have either not received completion certificates or have failed to secure deadline extensions, leaving many buyers with their investments in limbo. One impacted buyer, an IT professional after 11 years, has yet to take possession of his apartment in a project located at the Sinhagad foothills. Despite several favorable orders from MahaRERA, the project remains incomplete, and a refund has not been…

IndustryLatest Stories

Property Owners Hope for Regularisation as Maharashtra Scraps Act

PUNE: Thousands of property owners under the Pune Municipal Corporation (PMC) and other civic bodies are expected to receive relief as the government has repealed the Maharashtra Prevention of Fragmentation and Consolidation of Holdings Act (amended in 2015), commonly referred to as the Tukde Bandi law. This legislation imposed restrictions on subdividing land into smaller plots. Revenue Minister Chandrashekhar Bawankule announced during a recent assembly session that the state will now regularize land divisions of up to one guntha (1,089 square feet) made before January 1, 2025. This change will allow property owners to obtain registrations, building permits, and legal…

Latest StoriesRera

Bombay HC Orders Maharashtra RERA to Reinstate Hybrid Hearings

MUMBAI: The Bombay High Court has ordered the Maharashtra Real Estate Regulatory Authority (MahaRera) to reinstate hybrid hearings within four weeks. This will allow parties to choose between physical or virtual appearances. “Access to justice includes the right to appear in person, not just virtual access,” stated Justices Revati Mohite Dere and Neela Gokhale. A petition filed by Mayur Desai requested the court to expedite the resolution of execution and non-compliance cases pending since March 2024 and to reinstate hybrid hearings, a practice in place before the Covid-19 pandemic. MahaRera’s attorney mentioned that parties wishing to attend in person could…

CommercialLatest Stories

EFC (I) reports Q1 FY26 net profit of ₹46.67 crore

NEW DELHI: Pune-based EFC (I) has announced a remarkable 195.94% rise in its net consolidated profit for the quarter ending June 30, 2025. The company’s profit after tax (PAT) reached ₹46.67 crore in Q1 FY26, compared to ₹15.77 crore during the same quarter last year, as reported in a BSE filing. The net consolidated total income for the company stood at ₹223.25 crore in Q1 FY26, reflecting a growth of 112.05% from ₹105.28 crore recorded in the corresponding period last year. In the leasing segment, EFC (I) added 145,000 sq ft of space in Q1 FY26, which equates to an…

Latest StoriesResidential

Maharashtra Housing Policy: Homes for All, Slum-Free State

Representative image created by AI MUMBAI: The Maharashtra government’s new housing policy, “My House, My Right,” aims to provide affordable housing for all, redevelop older buildings, and transform slums through public-private partnerships. A Government Resolution for this policy was approved by the state cabinet in May and was released by the Housing Department on Wednesday. The government anticipates an investment of Rs 70,000 crore during the policy’s implementation. With a focus on “Housing for All,” the policy aims for a slum-free state, prioritizing economically weaker, lower-income, and middle-income groups. The government plans to construct 3.5 million houses over five years,…

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.…