Tag: Pune

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…

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…