Tag: Pune

IndustryLatest Stories

Pimpri Chinchwad Offers Amnesty Scheme Until March 31

PUNE: The Pimpri Chinchwad Municipal Corporation has introduced an amnesty scheme for property tax defaulters to recover outstanding dues and enhance revenue for the last month of the 2025-26 financial year. During a press conference, Mayor Ravi Landge announced that a 90% penalty waiver on principal tax arrears would be provided as part of this scheme. Taxpayers who settle their entire outstanding amount in one payment from March 1 to 31 will benefit from this offer. A senior official from the PCMC reported that approximately 2.12 lakh property owners collectively owe Rs 1,394 crore to the municipal body, with potential…

IndustryLatest Stories

Merlin Group Buys 3.3 Acres Near Pune’s Koregaon Park for ₹273 Cr

Representative Image MUMBAI: The Merlin Group has acquired a 3.26-acre land parcel in the Mundhwa area near Koregaon Park, Pune, for ₹273 crore. Merlin Prime Spaces, a subsidiary of the Kolkata-based property developer, plans to construct a commercial project on this site with a total investment exceeding ₹1,000 crore, which includes the land cost. “We intend to develop an office-led commercial project aimed at banking, financial services, insurance companies, and global capability centers,” stated Saket Mohta, MD of Merlin Group, to RealtyDailyNews. The project is expected to complete by 2030 and could be valued around ₹3,000 crore upon occupation. The…

CommercialLatest Stories

WeWork India to Add 7,700 Desks in Hyderabad, Pune, Bengaluru

NEW DELHI: WeWork India Management has announced plans to expand into Hyderabad, Pune, and Bengaluru, adding approximately 7,700 desks as part of its growth strategy. According to a regulatory filing, the company has signed a sub-lease agreement for 145,114 sq ft in Hyderabad, which will add roughly 2,100 desks. This center is expected to become operational by July 2026, with an estimated investment of ₹32 crore, funded through internal accruals and debt. Additionally, WeWork has entered into a leave-and-license agreement for 162,665 sq ft in Pune, projected to introduce around 2,500 desks by August 2026, involving an investment of about…

Latest StoriesRera

Maharashtra Minister: Intensifying Recovery of MahaRERA Dues

MUMBAI: The government is poised to take stringent measures to recover outstanding dues under the Maharashtra Real Estate Regulatory Authority (MahaRERA), as stated by state minister Shambhuraj Desai in the assembly on Thursday. In response to BJP MLA Atul Bhatkhalkar’s inquiry about the non-implementation of MahaRERA orders for compensating homebuyers, Desai mentioned that the government aims to elevate the recovery rate beyond 34 percent. The Centre has urged states to ensure effective RERA implementation for the benefit of homebuyers, with Prime Minister Narendra Modi reviewing the situation with chief secretaries from all states and promoting a robust recovery strategy. Desai…

InfrastructureLatest Stories

Pune Civic Body Expands Pollution Monitoring to More Constructions

Representative AI image PUNE: The Pune Municipal Corporation (PMC) is set to mandate pollution monitoring systems for smaller construction projects, expanding the current regulations. At present, only construction projects exceeding 5,000 square meters are required to implement these systems. however, Mayor Manjusha Nagpure announced on Wednesday, “We aim to lower the minimum plot size for these installations soon. The civic body will also require government and civic projects to monitor their pollution outputs.” Additionally, ready-mix concrete (RMC) plants will also fall under this monitoring requirement. When questioned about actions taken against polluting RMC plants within civic limits, especially those in…

Latest StoriesResidential

Pune property registrations drop 17% in January 2026: Knight Frank

Sure! Here’s a rewritten version of the content: PUNE: In January 2026, Pune saw 14,527 property registrations, yielding ₹609 crore in stamp duty, according to a Knight Frank India report. Although registrations dipped by 17% year-on-year compared to January 2025, stamp duty collections experienced a slower decline of 5%, indicating sustained activity in higher-value transactions. On a month-to-month basis, the city rebounded from the year-end dip, with registrations increasing by 20% and stamp duty collections rising by 37% compared to December 2025, the report highlighted. Properties priced below ₹1 crore remained prevalent, though their market share edged down to 82%…

Latest StoriesRegulatory

Over 350 Land Lease Violations Found in Pune and Haveli

PUNE: The city of Pune and Haveli taluka have reported the highest instances of violations concerning long-term government land leases, leading the district administration to send notices to the non-compliant institutions, officials stated on Wednesday. Types of land lease violations include failure to renew leases, unauthorized use of land, occupation beyond approved limits, illegal constructions, sub-letting for profit, not utilizing land within the required timeframe, and deviations from authorized plans. A comprehensive survey conducted across the Pune district last year examined all 2,161 government land parcels under lease. Inspections revealed 355 violations, predominantly in Pune city and Haveli taluka, according…

Latest StoriesRegulatory

Pune civic body rejects property tax hike, PCMC keeps status quo

PUNE: Residents within Pune’s civic limits will not face an increased property tax, and those in Pimpri Chinchwad are also expected to be exempt from any hikes. The Pune Municipal Corporation’s (PMC) general body (GB) unanimously rejected a proposal on Wednesday to raise property tax by 5% for the upcoming fiscal year. Similarly, the Pimpri Chinchwad Municipal Corporation (PCMC) is unlikely to propose a tax increase for the 2026-27 financial year due to the absence of a standing committee, which is required to review such proposals. Last week, the PMC brought forth the 5% tax increase proposal, but corporators from…

CommercialLatest Stories

ICE Mortgage Tech Leases 200K Sq Ft in Pune for GCC Setup

American multinational financial services company Intercontinental Exchange, via its subsidiary ICE Mortgage Technology India, has secured nearly 200,000 sq ft of office space spread across 9 floors in a commercial tower located in Pune’s Magarpatta Cybercity through a long-term lease, intending to establish a global capability center (GCC). This space, situated in Tower S3 of the business district, has been leased from Axis Max Life Insurance. The lease encompasses approximately 193,053 sq ft, covering the lower ground floor, upper ground floor, and floors one to seven. The rental rate has been set at Rs 90 per sq ft per month,…

IndustryLatest Stories

Maharashtra Forms Panel to Review TDR Relief for Redevelopment

PUNE: The state government has established a 12-member committee to re-survey river flood lines across Maharashtra, including areas in Pune and Pimpri Chinchwad, nearly a year after making this commitment in the assembly. The panel is expected to submit its report within two months. The government has tasked the committee with reviewing current regulations and suggesting amendments to the Unified Development Control and Promotion Regulations (UDCPR) to facilitate the use of Transfer of Development Rights (TDR) for properties built within flood lines prior to the irrigation department’s demarcation in 2009. A significant number of properties, particularly in Pimpri Chinchwad, were…