Tag: Pune

IndustryLatest Stories

Maharashtra Decentralises Land Regularisation to Collectors

NAGPUR: On Wednesday, the Maharashtra legislature unanimously approved the Maharashtra Land Revenue Code (Second Amendment) Bill, 2026. This new legislation empowers district-level authorities to regularize most cases of land-use breaches. Introduced by Revenue Minister Chandrashekhar Bawankule, this amendment transitions from a centralized approach to a decentralized one, allowing collectors and divisional commissioners to manage nearly 90% of these cases at the local level. The change is anticipated to alleviate backlog, reduce bureaucratic hold-ups, and improve citizen access to administrative solutions. “Previously, even minor breaches were sent to the Mantralaya, overloading the secretariat and obligating citizens to make numerous trips to…

Latest StoriesResidential

50% Property Tax Discount for Women Owners in Pune

PUNE: Smaller property owners expecting tax concessions from the civic administration, as promised by political leaders, continue to wait. During the Pune Municipal Corporation (PMC) budget announcement, no general tax waiver for properties up to 500 square feet was mentioned, contrasting with the policies of the Brihanmumbai Municipal Corporation (BMC). The Bharatiya Janata Party (BJP) had included a tax waiver in its manifesto for the recent civic elections. However, the PMC has only offered a 50% discount for small properties, and this benefit applies exclusively to properties owned by women. Civic activists have deemed this announcement a betrayal of public…

CommercialLatest Stories

WeWork India Invests ₹31 Crore for 81,166 Sq Ft in Bengaluru

NEW DELHI: WeWork India Management has secured an additional 81,166 sq ft in Bengaluru to enhance its flexible workspace offerings as part of its expansion plans. The new lease is anticipated to accommodate approximately 1,256 desks, with operations expected to begin by May 2026. The company intends to invest around ₹31 crore in this project, which will be financed through internal resources and debt. Additionally, WeWork has expanded its footprint in Pune with a new leave and license agreement for 41,621 sq ft, following a previous agreement for 1,62,665 sq ft made in February 2026. This latest expansion in Pune…

Latest StoriesRegulatory

Pune’s PCMC collects ₹80 crore in property tax, may miss targets

PUNE: The Pimpri Chinchwad Municipal Corporation (PCMC) reports a robust response to its amnesty scheme for property tax defaulters, yet the overall tax collections appear to be underwhelming, as the organization is unlikely to achieve its set targets or match last year’s figures. For this fiscal year, PCMC has aimed to generate Rs 1,000 crore from property tax. According to municipal officials, the PCMC has accumulated nearly Rs 80 crore in property tax revenue following the launch of the amnesty scheme on March 1. This initiative provides a 90% penalty waiver for defaulters, applicable only to those who settle their…

Latest StoriesResidential

Supreme Universal to Invest ₹1,500 Crore in Pune Housing Project

NEW DELHI: Supreme Universal is set to invest approximately ₹1,500 crore in a residential project located in Pune’s Punawale area, which has a development potential exceeding three million sq ft. The project, developed under a joint development agreement with a landowner, will cover 12.6 acres and consist of over 2,200 apartments across multiple phases. The development, named Supreme Rivana, will offer 2BHK, 3BHK, and 4BHK units aimed at the mid-to-premium housing segment in West Pune. Construction will take place in phases, with the total investment covering all construction costs. Published On Mar 23, 2026 at 12:57 PM IST Join a…

Latest StoriesRegulatory

Pune: PMC Acts on 4,000 Bounced Cheque Cases for Property Tax

PUNE: The Property Tax Department of Pune Municipal Corporation (PMC) has issued a warning to property owners regarding strict legal consequences for dishonoured tax payment cheques, as the number of such cases has been rising. Civic officials reported that over 4,200 cheque bounce instances have been recorded this financial year. Following persistent follow-ups, about 3,600 owners have settled their payments. Now, the civic body plans to take legal action against the remaining 600 defaulters under the Negotiable Instruments Act, 1881, which governs cheque dishonour offences. Ravi Pawar, head of the PMC’s Property Tax Department, stated that despite numerous reminders, some…

Latest StoriesResidential

Paranjape Plans ₹700 Crore Investment in Pune Residential Projects

NEW DELHI: Paranjape Schemes Construction is set to invest approximately ₹700 crore in a series of residential projects located in Pune’s western corridor. The projects include five residential towers: two each at Sinhgad Road and Bhugaon, plus one at Hinjewadi Phase 1. This investment will cover construction costs and land acquisitions. Altogether, the developments will have a potential build-out of more than 1.75 million square feet, featuring around 1,400 residential units. The expected revenue from these launches is estimated at ₹1,175 crore. Amit Paranjape, the company’s business development head, stated, “In addition to our new launches, we are also in…

Latest StoriesRegulatory

Maharashtra Registrations Department Hits 90% Revenue Goal

PUNE: The state’s department of registration and stamps is approaching its annual revenue goal, achieving almost 90% as the 2025-26 fiscal year nears its end. As of March 15, the department has raised ₹56,159.05 crore, which is around 88.4% of its ₹63,500 crore target. According to official statistics, a total of 43.12 lakh documents have been registered this fiscal year, already matching the complete count from the previous year (2024-25), which also recorded 43.12 lakh registrations and generated ₹58,266.07 crore against a lower target of ₹55,000 crore. Registration officials reported steady property transactions, averaging three to four lakh documents registered…

InfrastructureLatest Stories

Pune’s Hinjewadi-Shivajinagar Metro Line Delayed Again

Representative AI image PUNE: The completion of the 23-km third Metro corridor, which connects Hinjewadi to Shivajinagar, is unlikely to meet its target of March-end. Officials from the Pune Metropolitan Region Development Authority (PMRDA) now suggest that full passenger services may not commence until June or July. This project, developed under a public-private partnership (PPP) with Tata Group-led Pune IT City Metro Rail Limited, is currently approximately 94% complete. Initially, the project was set for completion by the end of March, with operations beginning in April after trial runs. “While trial runs are underway, significant work remains, especially at various…

InfrastructureLatest Stories

Panel to Address Property Tax Issues in Merged Pune Areas

PUNE: On Monday, Mayor Manjusha Nagpure announced the formation of a committee to address property tax concerns from citizens in merged areas. The committee will engage with representatives from these areas to formulate suggestions regarding property tax. The state government has halted property tax collection from these merged areas following citizen complaints about exorbitant taxes imposed on both residential and commercial properties. Mayor Nagpure stated that the Pune Municipal Corporation (PMC) would consult the state government on this matter. During the meeting, citizens and their representatives voiced that properties were being taxed excessively. They argued that taxes were assessed without…