Pune's Slum Rehabilitation Authority (SRA) has issued notices to 22 developers for significant project delays, ranging from five to seven years. Developers attribute the delays to landowner resistance and commit to resolving issues through renewed negotiations. The SRA emphasises developers' responsibility for initial house repair and maintenance post-rehabilitation, actively securing insurance policies for support. With 166 ongoing projects and 61 completed, over 10,800 slum dwellers have been rehabilitated. Challenges persist due to resistance and spatial allocation concerns, but ongoing efforts underscore Pune's commitment to inclusive housing solutions and sustainable urban development.Read more

The Pune Metropolitan Region Development Authority (PMRDA) plans to submit the final arbitration report for the Mhalunge Maan town planning scheme to the state for approval in November 2023. The scheme, initiated in 2018, involves 510 plots and 5,800 beneficiaries receiving 50% of their land area in the township. After almost five years, PMRDA officials are progressing towards the arbitration report submission. They have presented the status of all six town planning schemes in Pune to the guardian minister, Ajit Pawar. The Centre has allocated Rs25 crore for infrastructure funding for each of these projects, while PMRDA has already allocated Rs175 cr from its own budget.Read more

A three-acre urban plot in Pune, owned by the Yerawada police station, has reignited controversy 13 years after objections were raised by former Pune police commissioner. The plot was initially allotted to the police in 1979 but later became embroiled in a complex exchange proposal involving a private trust and a private developer. The controversy underscores concerns about transparency and integrity in land allocation, highlighting the nexus between politics and developers in the region. This renewed debate emphasizes the need for accountability, transparency, and adherence to legal procedures when handling public assets and resources.Read more

Mahindra Lifespace Developers has acquired 5.38 acres in Pune's Wagholi, enabling a potential 1.5 million square feet of upscale residential development. The strategic acquisition aligns with Mahindra Lifespace Developers' commitment to Pune, situated in the well-planned Kharadi-Wagholi micro-market. The area enjoys proximity to major commercial centres, IT hubs, and robust infrastructure. In addition, the company plans a Rs 85 crore investment in Chennai's Lakefront Estates project. The surging real estate demand in Pune prompts developers to explore adjacent regions, driven by scarce prime land and government infrastructure initiatives.Read more

The district administration in Pune has taken strict action against individuals who did not pay the required 15% transfer fee, based on the ready reckoner rate, for changing land use from industrial to residential in various areas. Notices have been issued to 531 individuals under Section 20 of the Urban Land Ceiling and Regulation Act, 1976, allowing the state to impose a one-time premium for land use changes. Those who received notices must either pay the fee along with a penalty or face legal action. This action follows the directive of Chief Minister Eknath Shinde to address violations related to land use changes.Read more

Pune Metro is leveraging property assets to fund its expansion, allocating 9.7 hectares of land to Tata Group along a new 23 km elevated Metro line. This land allocation offers real estate development opportunities, with a portion already assigned to Pune IT City Metro Rail Limited. Real estate developers see potential for upscale properties along all three Metro lines, encouraged by increased Floor Space Index (FSI) and transit-oriented development. The Metro aims to significantly reduce commuting times, completing its journey in under 40 minutes. Delays have pushed the project's operational start to March 2025.Read more

TRIOS, a co-working company, has expanded its presence in Pune, Maharashtra, by launching three new spaces in prime locations, totalling 82,000 square feet. The company secured agreements for these properties with prominent real estate entities, aiming to provide collaborative coworking spaces to established companies and professionals. TRIOS plans to enhance the coworking experience with new amenities like collaborative lounges, breakout spaces, gaming zones, and more. They also focus on sustainability by establishing these centres as zero-plastic zones. The expansion in Pune is part of TRIOS' broader strategy to meet the growing demand for co-working spaces in various Indian cities.Read more

To counter a slowdown in property tax collection, the civic administration in Pune plans to auction sealed properties owned by non-compliant taxpayers, aiming to generate approximately Rs 245 crore in revenue. The administration set a target of Rs 2,300 crore for property tax collection in the current fiscal year, but collections lagged in August and September. Critics argue that an amnesty scheme for tax defaulters sends the wrong message, disadvantaging diligent taxpayers. Additionally, PMC aims to impose property taxes on Metro rail properties, potentially yielding around Rs 20 crore annually. The civic administration faces the challenge of recovering Rs 8,000 crore from tax defaulters, including mobile towers and major businesses.Read more

The MHADA in Pune has extended the application deadline for its 2023 lottery, offering over 5,863 affordable homes across Pune, Solapur, Sangli, and Kolhapur. MHADA has already received an impressive 32,000 applications. Of these homes, 2,445 will be allocated on a first-come, first-served basis, with prices ranging from Rs 5 lakh to Rs 1.11 crore. The application deadline has been extended to October 20, 2023, with lottery results to be announced on November 9. The apartments vary in size from 204 to 1,087 square feet, with configurations ranging from 1 RK to 3 BHK.Read more

The Pune Metropolitan Region Development Authority (PMRDA) is actively identifying and demolishing illegal structures in the region, with 1,145 such structures pinpointed and 56 already demolished over nine months. Despite temporary setbacks during the monsoon season, PMRDA remains committed to intensifying its efforts. Drones have played a crucial role in identifying unauthorized constructions, providing an aerial perspective to locate structures on vacant government lands. Since 2015, PMRDA has identified 9,349 illegal structures, issued 1,920 notices, and demolished 324. FIRs have been filed against those involved in illegal plotting to deter violators.Read more

Supreme Universal's 'Supreme Villagio' in Pune has garnered an overwhelming response, with phase 1's 3 BHK luxury residences almost sold out. This success showcases trust in the Supreme brand and a desire for luxurious living in a natural setting. The project aligns with contemporary preferences, offering well-crafted residences with convenient outdoor access while fostering community and privacy. Somatane's ideal location, tranquil ambiance, and strong connectivity add to its allure. Supreme Universal's legacy of innovation and quality shines through as they continue to provide an unparalleled living experience. Supreme Villagio stands as an icon of luxury living in Mumbai and Pune.Read more

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has directed nine Pune homebuyers to execute cancellation deeds after GERA Developments filed a complaint, alleging non-payment in line with their sale agreements. MahaRERA cited a violation of Section 19(6) of the RERA Act, mandating timely payments. One buyer has already settled their balance, while the remaining eight face cancellation if they do not comply within 30 days.Read more

Mahindra Lifespace has launched the third phase of its Mahindra Happinest Tathawade project in Pune, focusing on 2 BHK homes with carpet areas ranging from 619-702 sq ft, starting at Rs 66 lakh. The project's first two phases were highly successful, with most of the inventory sold out. Possession of apartments in the third phase is expected in 2025. This phase includes retail and commercial spaces to create a comprehensive living environment. The project is strategically located along the Mumbai-Pune Highway, close to the IT hub of Hinjewadi and the proposed Hinjewadi Junction metro station.Read more

Property owners in Pune are showing reluctance to submit PT3 forms to avail a 40% property tax discount offered by the Pune Municipal Corporation (PMC) for self-occupying properties. This hesitation may lead to approximately 3 lakh property owners losing out on this rebate. The scheme, initially introduced in 1970, was declared illegal in 2019 but was reintroduced in 2023. Citizens are expressing frustration, suggesting that it should be the civic administration's responsibility to cross-verify occupants rather than burdening taxpayers with complicated compliance procedures. Many are calling for a more user-friendly, online submission process to streamline the application for the tax discount.Read more

Bollywood actor Ranbir Kapoor has recently leased his luxurious apartment in Pune's Trump Towers for an impressive monthly rent of Rs. 4 lakhs. The apartment was leased to Duroshox, a leading company in suspension solutions, for a 36-month period. The lease agreement includes an annual rent escalation. This move reflects a growing trend among celebrities to invest in premium real estate, with stars like Shahid Kapoor and others, making real estate investment a prominent choice in the industry.Read more

Supreme Universal, a renowned real estate company known for its luxury developments in Mumbai and Pune, proudly announces the possession of Supreme Estia - Phase 1, a prestigious residential project located in Pune's upscale Baner neighbourhood. This achievement reflects Supreme Universal's commitment to creating exceptional living spaces for its customers. The possession event, which spanned two weeks starting from August 15th, celebrated the welcoming of over 260 families into the Supreme Community. It was a vibrant and memorable event, emphasizing Supreme Universal's dedication to customer satisfaction and creating lasting memories.Read more

Kolte Patil Developers has launched 24K Espada, a luxurious residential project near Pune's Hinjawadi. This development offers 4 & 5-bedroom row houses in a sought-after location, close to major IT companies, educational institutions, and entertainment hubs. The row houses are designed with a focus on privacy and spacious living, featuring gardens and terraces for relaxation and gatherings. Residents can enjoy premium amenities like yoga lawns, an aroma garden, and Club Yacht. 24K Espada is part of the Life Republic township, enhancing its connectivity and lifestyle offerings, making it an appealing choice for upscale living in Pune.Read more

Environmental activists in Pune have voiced concerns over the dumping of construction debris along a 3.7km stretch of the Mula-Mutha river, earmarked for the Pune Municipal Corporation's (PMC) riverfront development project. The debris accumulation on the river's left bank has resulted in uprooted trees, loosened roots, and the demise of plants and shrubs. Activists argue that PMC is disregarding their objections and pre-emptively planning to cut trees without proper permissions. They highlight that this practice threatens the environment and the river's water quality. PMC claims it hasn't violated any orders and will address the issue once complaints are received.Read more

A representative from the Pune Metropolitan Region Development Authority (PMRDA) recently disclosed that they have concluded the selection of approximately 510 plots and identified 5,800 beneficiaries for their town planning scheme. Under the scheme, beneficiaries will receive 50% of their land back at the same site. This marks a significant step forward in their urban development efforts, demonstrating the organization's commitment to planned growth and efficient land allocation within the Pune region. The scheme's progress showcases PMRDA's dedication to enhancing the infrastructure and quality of life for the local population.Read more

ASK Property Fund, part of the ASK Group, has invested Rs 225 crore in Pune through its ASK Real Estate Special Opportunities Fund IV. The project primarily consists of residential units, and Kumar Realty is the developer behind the integrated Megapolis township in Hinjewadi. The area's proximity to IT firms and multinationals has fuelled a demand for residential properties, with over 9,000 units sold in the past two years and a 6-8 percent year-on-year price increase. ASK Property Fund has invested in 15 projects in Pune, focusing on mid-segment and affordable housing near job centres.Read more