Tag: Pune

CommercialLatest Stories

WeWork India Leases 200,000 Sq Ft in Pune’s Wakad

MUMBAI: WeWork India Management has secured a lease for over 204,000 sq ft of office space at Phoenix Millennium Tower 3 in Pune’s Wakad area through a long-term agreement. The lease spans five floors—from the 13th to the 17th. The 13th, 14th, and 15th floors are leased for a decade, while the 16th and 17th floors are on a five-year term. The monthly rent is set at ₹73 per sq ft, amounting to a total monthly expenditure of more than ₹1.49 crore. The agreement includes a 12% rental increase after the first three years, followed by a 13.5% rise every…

InfrastructureLatest Stories

Mayor Requests Pollution List of Housing Societies in 7 Days

PUNE: Mayor Ravi Landge of Pimpri Chinchwad has instructed the civic environment department to identify housing societies discharging untreated sewage into nullahs within seven days and to take strict action against them. This directive came after reports indicated that effluents from residential complexes and a private educational institute were polluting the Pavana river. Mayor Landge visited Kiwale on Tuesday, where he emphasized that all sewage treatment plants (STPs) within housing societies must be fully operational. He issued a warning of legal action against housing societies and institutions failing to comply with pollution control regulations, stating, “Even officials negligent in enforcement…

CommercialLatest Stories

Pune Cantonment’s 120-Year-Old MG Road Building to Get Revamp

PUNE: The Pune Cantonment Board (PCB) is exploring ways to address its financial challenges by transforming its historic headquarters on MG Road into a commercial enterprise. This colonial-era building, over 120 years old, was the administrative center for the PCB until 1988 when it was repurposed as a cantonment court. With the court moving to a new facility in June 2024, the two-storey heritage site has become vacant. The board plans to convert this property into a source of revenue by capitalizing on its prime location. “We have initiated the process to change the property’s purpose. The proposal has been…

CommercialLatest Stories

Welspun Enterprises Acquires 4.5 Lakh Sq Ft Office in Pune

MUMBAI: Welspun Enterprises Ltd has leased over 450,000 sq ft of office space in Pune’s prominent IT area, Hinjewadi, marking one of the largest office deals in the city this year. The space, located at Radius IT Park, part of the Hinjewadi IT Park cluster, has been acquired from Indo Global Soft Solutions & Technologies under a fresh lease agreement that began on April 1. The lease encompasses approximately 457,500 sq ft of chargeable area and over 329,000 sq ft of carpet area, distributed across eight floors of the commercial space, according to documents obtained from Propstack. The agreement commences…

Latest StoriesRera

MahaRERA Approves 10,000+ Housing Projects in FY26

NAGPUR: The Maharashtra Real Estate Regulatory Authority (MahaRera) has approved 10,379 housing projects for the financial year 2025-26, highlighting its regulatory oversight and boosting the state’s real estate sector. This included 4,204 new project registrations, modifications in 2,488 projects, and timeline extensions for 3,687 developments, signaling both growth and compliance within the industry. According to the regulatory authority, these approvals align with ongoing efforts to enhance transparency and adherence to the Real Estate (Regulation and Development) Act, 2016. This act requires developers to receive MahaRera’s clearance for any changes or extensions beyond the initially sanctioned plans. Securing these approvals is…

IndustryLatest Stories

Maharashtra Launches 60 Private Property Registration Centers in July

Representative AI image PUNE: Property buyers and sellers in Maharashtra are set to benefit from quicker registrations and enhanced services as the state registration department gears up to introduce 60 privately operated registration centers starting this July. Inspired by the “passport seva kendra” model, these centers aim to simplify the registration process, albeit at an added cost to citizens. They will work alongside the state’s existing 517 government-operated registration offices. The initiative was first revealed last year by the revenue department and will be carried out in three phases. The initial phase will introduce five centers in high-traffic districts like…

IndustryLatest Stories

NOC Required for Work Near Pune Metro Tunnel (20m Radius)

Representative AI image PUNE: Maha Metro has mandated that builders and property owners secure a No Objection Certificate (NOC) before commencing any construction within 20 meters of a Metro viaduct or tunnel. This regulation aims to guarantee that surrounding development does not jeopardize the structural integrity of the transit system. Failure to obtain this clearance prior to initiating construction will result in severe repercussions, including potential legal actions and financial liability. A Maha Metro official informed TOI that the requirement for an NOC before construction activities is already stipulated under the Metro Railways (Construction of Works) Act and the Unified…

Latest StoriesResidential

Pimpri Chinchwad Residents Demand Action on Water Supply Issues

PUNE: Numerous housing societies in Pimpri Chinchwad are urging the civic authorities to take stringent measures against developers who have allegedly failed to provide water supply despite signed commitments. Residents referenced recent directives from the divisional commissioner, which cautioned builders against legal ramifications if they do not fulfill their water supply obligations until the municipal network is established. This issue was highlighted during a recent ward-level meeting held by the water supply department for A and K wards. The Chikhali-Moshi Pimpri Chinchwad Housing Societies Federation has insisted that developers promptly reimburse the costs incurred by residents for private water tankers…

Latest StoriesResidential

Ashiana Housing Acquires 28.55 Acres in Pune for Senior Homes

Representative image NEW DELHI: Ashiana Housing has acquired 28.55 acres of land in Pune to develop a senior living housing project, expected to generate revenue of approximately Rs 1,800 crore. The company confirmed in a regulatory filing: “We have acquired approximately 28.55 acres of land on an outright purchase basis in Pune, Maharashtra.” “This marks the largest land deal by our company for a Senior Living project. The estimated saleable area is 20 lakh sq ft, with a sales value potential of Rs 1,800 crore,” the filing added. Ankur Gupta, JMD of Ashiana Housing, mentioned that the company is aiming…

InfrastructureLatest Stories

PMRDA Requests Clarity from Maharashtra on Maan-Mhalunge Planning

PUNE: The Pune Metropolitan Region Development Authority (PMRDA) is seeking guidance from the state’s Urban Development Department (UDD) regarding the execution of the Maan-Mhalunge Town Planning Scheme (TPS-1). There is uncertainty whether the project will remain with the PMRDA or be taken over by the Pune Municipal Corporation (PMC) following the merger of Mhalunge village. Officials have stated that a definitive decision from the state is necessary as the documentation for the 250-hectare scheme is nearing its final stages, ready for implementation. Senior PMRDA officials mentioned that a formal request has been made to the UDD for clarity on the…