Tag: Pune

InfrastructureLatest Stories

Pune’s Hinjewadi-Shivajinagar metro stations may open by June-end

PUNE: Commuters waiting for the Hinjewadi-Shivajinagar Metro (Line 3) can anticipate partial relief by the end of June, with 12 stations expected to open in the initial phase, subject to necessary safety clearances, according to PMRDA officials following a meeting in Mumbai on Thursday. The officials revealed that the overall project completion stands at 95.2%. “The Commissioner of Metro Rail Safety (CMRS) is scheduled to inspect the corridor later this month. A final decision regarding the launch will depend on this inspection. However, it’s likely that services could commence by the end of June, assuming all approvals are granted,” stated…

InfrastructureLatest Stories

PMRDA to Transfer Mahalunge-Maan Plan to PMC for Implementation

PUNE: After nearly eight years of delays, the long-awaited Mahalunge-Maan Town Planning (TP) scheme is finally set to be implemented. The Pune Metropolitan Region Development Authority (PMRDA) plans to transfer the execution responsibilities of this project to the Pune Municipal Corporation (PMC). During a recent PMRDA budget meeting, senior officials confirmed that TP schemes primarily located within PMC limits will now be executed by the civic body. A formal notification from the state government is expected soon to finalize the transfer. The jurisdiction change follows the merger of several villages into the PMC. Officials revealed that over 75% of the…

CommercialLatest Stories

Boston Scientific leases 130,000 sq ft office in Pune’s Wakad

MUMBAI: Boston Scientific, a global leader in medical technology, has secured over 130,000 sq ft of office space in Pune through a long-term lease of nearly 9.5 years, emphasizing the sustained interest from multinational companies in expansive office campuses in major tech hubs. Boston Scientific Technology and Engineering Services has leased 130,682 sq ft on the sixth and seventh floors of Eon West LP II, Tower D, located in Wakad, Pune. The lease also includes an option to lease the eighth floor until March 2027, suggesting potential future expansion at the site. The office space was leased from Wakad Realty…

IndustryLatest Stories

Maharashtra Cabinet Likely to Approve Vertical Property Cards in June

Representative AI image PUNE: A revised proposal for “vertical property cards” aimed at flat owners has been reintroduced to the state government and is anticipated for cabinet review in June, as stated by officials from the settlement commissioner’s office. The proposal, which has lingered for almost four years, has recently been sent to the law and judiciary department with several incorporated modifications. A senior official mentioned, “It should go before the cabinet once the department approves it.” If sanctioned, Maharashtra will be among the select states in India to adopt such a system. The initial rollout will target projects registered…

IndustryLatest Stories

Pune to Reclaim 15 Plots Over Lease Violations

PUNE: A recent survey of government land leased on a long-term basis in the district uncovered 240 violations across 2,161 parcels. The administration is set to take action to reclaim these lands due to violations, as stated by Pune collector Jitendra Dudi on Tuesday. “Orders have already been issued to reclaim land from lease holders for 15 parcels,” said Dudi. The identified violations consist of non-renewal of leases, unauthorized changes in land use, occupation beyond approved limits, illegal constructions, sub-letting for profit, and failure to utilize the land within specified time frames. Officials noted that most violations were found in…

Latest StoriesResidential

38 Landlords in Pimpri Chinchwad Booked for Concealing Tenants

Representative AI image PUNE: The Pimpri Chinchwad police have filed cases against 38 property owners for not providing necessary tenant information. The cases, registered under Section 223 (disobedience to order duly promulgated by public servant) of the Bharatiya Nyaya Sanhita (BNS), were reported across various police stations in Pimpri-Chinchwad. The anti-terrorism division of the Pimpri Chinchwad police has initiated a special operation to locate illegal tenants, particularly those of Bangladeshi nationality. “Last month, we discovered 38 landlords who failed to disclose their tenants’ details. Legal actions have been taken against them,” stated an officer from the special branch. The police…

CommercialLatest Stories

EFC (I) Plans ₹160 Crore Rights Issue at ₹150/Share

NEW DELHI: EFC (I), a managed workspace operator based in Pune, has received approval from its board to raise up to ₹159.94 crore through a rights issue of equity shares, as detailed in a regulatory filing. The board initially approved the rights issue on April 3, 2026, and has now approved the issuance of 1,06,62,786 fully paid-up equity shares at a price of ₹150 each, which includes a face value of ₹2 and a premium of ₹148. The rights entitlement ratio is set at 8:103, meaning eligible shareholders can claim eight rights equity shares for every 103 fully paid-up equity…

CommercialLatest Stories

Concorde leases 140K sq ft to BHIVE; TEC adds 90K sq ft in Mumbai, Pune

NEW DELHI: Concorde, based in Bengaluru, has entered a leasing agreement with BHIVE Workspaces for 1.4 lakh sq ft of grade-A office space at Concorde Econex, valued at an annual rental of ₹16 crore. The new facility, located in Doddanekkundi, Whitefield, consists of a ground floor and four upper levels. This long-term partnership features a 15-year lease, allowing BHIVE to accommodate over 3,000 workstations. In another announcement, The Executive Centre (TEC) has revealed the addition of approximately 90,000 sq ft of workspaces in Mumbai and Pune. In Mumbai, TEC is set to launch two new centers: one at One BKC,…

CommercialLatest Stories

Accenture Leases 600K Sq Ft in Pune for ₹325 Crore GCC Plan

Sure! Here’s the rewritten content with a fresh flow: MUMBAI: Accenture has signed a long-term lease for over 600,000 sq ft of office space, spanning nine floors at Phoenix Millennium Towers in Pune’s Baner area. This agreement extends for more than 15 years, as confirmed by sources familiar with the deal. The global technology and consulting firm intends to establish a Global Capability Centre (GCC) at this location, with the move scheduled to occur in two phases, concluding in June. The total rental expenditure is projected to exceed ₹325.37 crore over the lease duration, with phase I costing ₹194.16 crore…

CommercialLatest Stories

ICICI Pru Alternatives Acquires RMZ Office Assets for ₹2,600 Cr

MUMBAI: ICICI Prudential Alternatives has purchased two Grade A office properties from the RMZ Group in Bengaluru and Pune for approximately ₹2,600 crore, thereby enhancing its portfolio in income-generating commercial real estate. The acquisition was made through the ICICI Prudential Office Yield Optimiser Fund, a ₹2,500 crore initiative targeting completed and pre-leased office spaces in major Indian markets. The Bengaluru property, EcoWorld 21, is situated on the Outer Ring Road, the largest office micro-market in the country and a center for global capability centers (GCCs). This facility encompasses around 675,000 sq ft, leased to a variety of multinational companies with…