Tag: Pune

IndustryLatest Stories

Kirloskar Realty Secures ₹1,150 Cr Loan from ICICI Bank

Kirloskar Industries’ real estate division, Avante Spaces, has secured a ₹1,150 crore term loan from ICICI Bank to support a Grade A office project in Pune’s Kothrud area, showcasing lenders’ ongoing interest in well-established urban developments. The funding for this 1.9 million sq. ft office project is organized in two tranches: ₹1,050 crore and ₹100 crore, with a repayment schedule of 44 months at an annual interest rate of 8%. The company has placed a mortgage on its land and all current and future constructions, securing the loan with approximately 7.25 acres of land across Plots A, C, and D…

IndustryLatest Stories

Pune: Talathi, Officer Block Mutation Plea Due to Lapses

PUNE: The inquiry report on the Mundhwa land issue, led by Vikas Kharge, reveals that local revenue officials, including the talathi and circle officer, initially identified irregularities in the contentious sale and halted the mutation in their records. However, procedural oversights and a lack of notification to higher authorities later compromised scrutiny. The report indicates that approximately 45 acres of government land, identified as survey no. 88 in Mundhwa, was registered on May 20, 2005, at the Haveli sub-registrar’s office in favor of Amadea Enterprises LLP for ₹300 crore, encompassing 17 hectares of land. On May 21, 2005, partner Digvijay…

InfrastructureLatest Stories

Pimpri Chinchwad: Developers Failing to Supply Water to Societies

PUNE: The Pimpri Chinchwad Municipal Corporation (PCMC) has announced strict measures against developers who fail to supply water to housing societies despite previously submitted commitments. Officials noted that in areas with insufficient municipal water supply, builders had guaranteed they would provide water to residents until the municipal infrastructure was fully operational. Unfortunately, many complaints have arisen indicating that these commitments have not been met. The issue was addressed during a meeting at the divisional commissioner’s office, which involved officials from PCMC, Pune Municipal Corporation (PMC), and PMRDA, in relation to a public interest litigation currently pending in the Bombay High…

Latest StoriesResidential

Pune Groups to Urge Police for FIRs Against Builders Violating Water Rules

PUNE: Citizen groups and housing federations in Pune and surrounding areas are planning to file FIRs against developers who have breached water supply affidavits when seeking building permits. The initiative seeks to hold builders accountable for failing to deliver the promised water infrastructure, which has left residents dependent on private tanker services. This decision emerged from a water supply review meeting on Friday, chaired by divisional commissioner Chandrakant Pulkundwar. The meeting was held following directives from the Bombay High Court (PIL 126/2023) aimed at tackling the escalating water crisis in the metropolitan region. Pune Municipal Corporation (PMC) officials confirmed that…

InfrastructureLatest Stories

Pune Links Building Permits to Land Acquisition for Road Widening

PUNE: The Pune Municipal Corporation (PMC) has implemented new regulations aimed at eliminating persistent delays in infrastructure projects by tying building permits to land acquisition for road widening. Under the updated guidelines, developers are required to submit a formal proposal to transfer any land that may be impacted by upcoming road expansions within 15 days of requesting building approval. Importantly, the land must be physically conveyed to the PMC before the construction reaches the plinth level — the base of the structure. This directive was communicated through a circular from the building permission department. “We will strictly monitor this process,”…

InfrastructureLatest Stories

Pune limits construction and excavation to 14 hours daily

PUNE: On Wednesday, the Pune Municipal Corporation (PMC) imposed a restriction on construction activities, limiting them to 14 hours a day due to residents’ concerns over pollution. “With immediate effect, all construction and excavation activities within the municipal limits of Pune will only be allowed from 7 AM to 9 PM,” stated a directive from city engineer Aniruddha Pawaskar. The directive was prompted by an increase in health complaints linked to construction activities. “If valid complaints are received, measures such as ceasing work will be enforced,” he informed TOI. PMC officials added that residents impacted by noise or air pollution…

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…