Tag: Pune

Latest StoriesRera

MahaRERA clears 6,945 homebuyer complaints, tackles backlog

PUNE: The Maharashtra Real Estate Regulatory Authority (MahaRERA) announced on Monday that it has addressed 6,945 complaints over the last year. This announcement comes after concerns were raised in the state assembly regarding the backlog of homebuyer grievances and the sluggish recovery of dues from non-compliant developers. Officials reported a significant increase in the complaint resolution rate, highlighting a faster pace of hearings in the past two years. Approximately 6,000 complaints still await resolution, but hearings have begun for nearly all cases except those lodged in the last two months. The rise in complaints and the delay in executing recovery…

CommercialLatest Stories

Maharashtra to establish IT park near Purandar airport

Representative AI image PUNE: On Friday, the state government announced plans to establish a new IT park near the upcoming greenfield international airport in Purandar taluka. The IT sector has welcomed this initiative, following the announcement by state industries minister Uday Samant in the assembly. However, experts urged the government to avoid repeating past infrastructure errors seen at the Hinjewadi IT park. The project, which has been discussed for the past couple of years, was confirmed in the assembly after finalizing the land for it. Samant noted, “Although the land transfer from the revenue department to MIDC is pending, we…

Latest StoriesResidential

Pune: Co-op Dept Dissolves Lohegaon Society for Denying Access

PUNE: The deputy registrar of cooperative society in Pune has disbanded the 18-member managing committee of a housing society in Lohegaon for failing to provide access to vital documents, such as audit reports and income-expenditure statements, despite multiple reminders and directives from cooperative officials. The housing society features 25 residential towers housing 657 members and nearly 1,500 residents. Deputy registrar NV Aghav issued orders on February 27 and March 4, declaring the 18 committee members ineligible for reappointment for five years starting February 27. A three-member authorized committee, selected from current society members, will oversee daily operations for the next…

IndustryLatest Stories

MHADA to Accelerate Redevelopment in Mumbai, Pune, Nashik

Sure! Here’s a rewritten version of the content: NEW DELHI: Redevelopment and brownfield projects in prime urban locations have significantly boosted the real estate sector in Maharashtra over the last two years, as stated by Anil Wankhede, Deputy CEO of the Maharashtra Housing and Area Development Authority (MHADA). In an exclusive interview with Ankit Sharma, Wankhede emphasized that MHADA is concentrating on redeveloping aging housing layouts in cities like Mumbai, Pune, and Nashik, alongside formulating policies to enhance rental housing and expedite the redevelopment of older structures. He indicated that there remains a robust demand for affordable housing through MHADA’s…

IndustryLatest Stories

Gera Developments Names Rajesh Shirwatkar CFO

Sure! Here’s a rewritten version of your content: NEW DELHI: Gera Developments (GDPL) has named Rajesh Yashwant Shirwatkar as its new Chief Financial Officer (CFO). In this role, Shirwatkar will oversee the company’s financial strategy, planning, compliance, treasury management, and governance. Additionally, Swapan Mukherjee has been promoted to Group Chief Financial Officer. “In this expanded position, he will offer financial oversight at the group level, aiding in the establishment of a solid foundation to foster the company’s growth and expansion,” stated Rohit Gera, Managing Director of the company. Published on Mar 12, 2026 at 04:30 PM IST Join 2M+ industry…

Latest StoriesResidential

Pune’s Registration Dept. Considers Cleaning Tenant Agreements

Representative AI image PUNE: The state’s property registration department is considering implementing online leave-and-licence (tenant) agreements that can be processed at any sub-registrar office within a district, rather than limiting it to specific taluka offices. This initiative aims to reduce backlog and expedite approvals. According to officials, this system has been successfully implemented in districts like Mumbai and Thane. However, its introduction in Pune has faced delays due to the use of two disparate software systems in urban and rural offices. A registration department official stated, “There are requests to initiate this process in Pune once the software issues are…

InfrastructureLatest Stories

Pune allocates ₹954 crore for merged village development

PUNE: The Pune Municipal Corporation (PMC) has proposed an allocation of approximately Rs 954 crore for the newly merged areas in its draft budget for 2026-27. This will be the first municipal budget since the recent elections of corporators from these regions, responding to urgent calls from residents and representatives to enhance infrastructure development. The budget, crafted by PMC Commissioner Naval Kishore Ram, is heavily reliant on expected revenue from building permissions and property taxes in these suburban areas. “We anticipate a significant revenue boost from building permits as development accelerates in these regions. Additionally, the PMC is expecting funding…

Latest StoriesRegulatory

Maharashtra: New Stamp Duty Penalty Starts January 1

PUNE: The increased penalty of ₹1 lakh for executing property documents without adequate stamp duty will be effective from January 1, 2026. An official from the Inspector General of Registration (IGR) office confirmed this on Monday, stating, “The amendment was notified on December 31, 2025, and will be enforced starting January 1, 2026. Any case registered concerning a shortfall in stamp duty post this date will be subjected to the revised penalty.” During the Maharashtra Budget presentation for 2026-27 on March 6, Chief Minister Devendra Fadnavis emphasized this change, proposing an increase in the penalty from the existing ₹5,000 to…

InfrastructureLatest Stories

Maharashtra CM Advocates Metro Expansion in Pune’s New Areas

Representative AI image PUNE: The Phase-II expansion of the Metro system in and around Pune is set to gain momentum, as Chief Minister Devendra Fadnavis announced plans to enhance the transit infrastructure in several cities, including Mumbai and Nagpur. The proposed Khadakwasla-Swargate-Hadapsar-Kharadi line, along with new routes from Hadapsar to Loni Kalbhor and from Hadapsar to Saswad Road, aims to connect older city areas with newer developments. If implemented on schedule, these lines will significantly benefit countless commuters. Fadnavis stated that the state government is focused on expanding the Metro network and has approved the new lines in Pune and…

CommercialLatest Stories

ICICI Prudential AIF Buys Pune IT Park for ₹520 Crore

An alternative investment fund managed by ICICI Prudential Asset Management Company has successfully acquired a grade-A office property in Pune as part of its initiative aimed at enhancing a portfolio of income-generating commercial real estate. The acquisition was made through the ICICI Prudential Office Yield Optimiser Fund-Series II, which purchased approximately 388,000 sq ft at Aditya Shagun Infinity IT Park in Baner, Pune, for around Rs 520 crore, according to sources familiar with the deal. The property was developed by K Raheja Group and Shagun Developers. The asset is currently leased to reputable tenants including Eaton Corporation, Accenture, and Jaguar…