Gramercy Info Park Pvt Ltd, a subsidiary of Pune-based Panchshil Realty, has acquired two industrial land parcels in Navi Mumbai's Ghansoli area for INR 615 crore, according to Propstack.com. The first parcel, spanning 73,600 sq m in the TTC Industrial Area, was purchased for INR 235.34 crore, while the second, covering 1.18 lakh sq m, was acquired for INR 379.65 crore. Panchshil Realty, known for luxury developments, has previously partnered with the Trump Organization for Trump Towers in Pune. The TTC Industrial Area has experienced a 9.05% rise in property values over the past year. This acquisition highlights the increasing demand for industrial and commercial spaces in Navi Mumbai and strengthens Panchshil Realty's presence in the Mumbai Metropolitan Region.Read more

The Pimpri Chinchwad Municipal Corporation (PCMC) has proposed a INR 9,675.27 crore budget for 2025-26, focusing on infrastructure, green development, and social welfare while keeping property tax unchanged. Key projects include DP road construction, water supply improvements, and Indrayani river revitalization. A drone survey added 2.5 lakh properties to the tax net, with QR-coded property records planned. INR 200 crore green bonds will fund non-motorized transport and eco-friendly projects. Investments in sanitation, health, education, and fire safety are also prioritized. With INR 1,000 crore more than last year's budget, PCMC aims for sustainable urban growth and improved public services.Read more

Pune's real estate market, particularly in Pimpri-Chinchwad, is witnessing strong investment activity, with developers expanding into high-growth suburbs. UC Punawale Skyscrapers LLP recently acquired a land parcel in Punawale for INR 129 crore, reflecting confidence in the region's residential demand. Areas like Punawale, Ravet, and Tathawade are experiencing rising property values due to affordability, connectivity, and proximity to commercial hubs. Key transactions in Ravet and Tathawade reinforce their potential, while Mahalunge and Baner are emerging as premium destinations. With continued developer interest and infrastructure expansion, Pune's suburban real estate market is poised for sustained growth.Read more

Recent developments in Pune real estate news highlight a robust market as Mumbai-based Hiranandani Group signs a joint development agreement with Pune-based Krisala Developers for a 105-acre project in North Hinjewadi. The integrated township will feature residential, commercial, and retail segments, with an investment of INR 2,000 crore and expected revenue of INR 7,000 crore. Both companies hold equal stakes while RERA approvals are underway, boosting investor confidence. In addition, Phase 1 covers 30 acres with INR 500 crore investment. In related Mumbai real estate news, Mahindra Lifespace's redevelopment initiative further underscores the region's dynamic real estate momentum, driving change.Read more

Godrej Properties Ltd., in collaboration with Tvasta Engineering, has launched India's first-ever 3D-printed G+1 villa at Godrej Eden Estate, Pune, marking a transformative breakthrough in construction. Completed in just four months using additive manufacturing, the project demonstrates the efficiency, precision, and sustainability of 3D printing in India. This innovative initiative sets new benchmarks in real estate investments in India by reducing construction time, material waste, and costs. By leveraging computer-modeled designs and eco-friendly materials, the villa paves the way for smarter, greener urban developments, positioning India alongside global leaders in revolutionary building technologies.Read more

Pune-based developer Solitaire Group has acquired nearly 10 acres of land in Wagholi for over INR 129 crore through its entity, Westcon Spaces Pvt Ltd. The acquisition, completed in four transactions on February 6, includes a 5-acre plot for INR 50 crore and a 4-acre parcel for INR 40 crore, with additional smaller purchases. While the company has not disclosed development plans, Wagholi's rising demand, proximity to IT hubs, and infrastructure growth suggest potential residential projects. Pune's real estate market remains strong, with developers actively securing land, mirroring trends in cities like Mumbai and Bengaluru.Read more

The Pimpri Chinchwad Municipal Corporation (PCMC) has demolished 2,137 illegal scrap godowns and industrial units across 372 acres in Kudalwadi, Chikhali, with 806 structures removed in a single day. The action follows safety violations, including the absence of fire clearances, labor law breaches, and environmental violations. This crackdown intensified after a fire in Talawde killed 14 people. The PCMC plans further demolitions in areas like Walhekarwadi and Kalewadi. With migrant workers displaced, officials are exploring NGO partnerships for relief efforts while continuing to enforce safety regulations against illegal industrial operations.Read more

The municipal corporations of Pune and Pimpri Chinchwad have proposed to keep property taxes unchanged for the financial year 2025-26, bringing some relief to residents. While the proposal has already been approved by the Pimpri Chinchwad Municipal Corporation (PCMC), the Pune Municipal Corporation (PMC) is yet to give its approval. Both cities have been governed by municipal commissioners in the absence of elected representatives due to delayed elections. Despite the proposal, concerns about the quality of services remain among citizens.Read more

The Pune and Pimpri Chinchwad metro network will expand with a budget allocation of INR 838.96 crore for FY 2025-26. Maha Metro will prioritize the PCMC-Nigdi and Swargate-Katraj extensions, ensuring financial stability for ongoing projects. While Phase 1 is operational, pending infrastructure work at Khadki and Range Hills stations continues. Metro ridership reached 160,000 daily commuters in January. Additionally, INR 230 crore has been allocated for Mula-Mutha river pollution abatement, with funds supporting Sewage Treatment Plants (STPs). These initiatives will enhance urban transit, last-mile connectivity, and sustainability, ensuring Pune's continued infrastructural growth.Read more

The Mumbai-Pune "missing link" project, expected to complete by August 2025, is aimed at improving the Mumbai-Pune Expressway by reducing the distance between the two cities and cutting travel time by 30 minutes. The project, costing INR 6,600 crore, has faced multiple delays due to engineering challenges and the difficult terrain. Key components like tunnels and viaducts are in place, with ongoing work on the second viaduct. The project is designed to enhance safety and reduce accidents, particularly in the hazardous ghat section, while also addressing seasonal disruptions caused by falling debris.Read more

The Pune Municipal Corporation (PMC) has initiated an auction of 46 properties to recover INR 11 crore in unpaid property taxes. Despite announcing a similar auction last year for 50 properties, only two were sold as most defaulters settled their dues at the last moment. The PMC has already seized properties where no legal disputes exist and has begun the auctioning process. PMC follows a structured approach, sealing properties and imposing a penalty of 2% per month on unpaid taxes. Successful bidders must pay an initial 20% of the bid amount within two days and the remainder within 15 days, though owners can reclaim their properties if dues and auction expenses are cleared within the same period.Read more

The Pimpri Chinchwad Municipal Corporation (PCMC) has fined 221 construction sites INR 31.4 lakh for breaching pollution control norms over the past six weeks. As part of the Graded Response Action Plan (GRAP), PCMC aims to curb rising pollution, particularly in areas like Punawale, Tathawade, and Moshi, where AQI levels have reached unhealthy levels. Two firms received stop-work orders for repeated violations. PCMC is considering increasing fines from INR 10 to INR 100 per sq. meter to enhance compliance. A dedicated monitoring team has been formed, reinforcing efforts to balance urban growth with environmental sustainability in the rapidly developing region.Read more

The Pune Municipal Corporation (PMC) has requested 15 government land parcels from the state to fast-track several pending development projects. These include initiatives such as 24x7 water supply, road widening in various areas, and the creation of a playground in Shivajinagar. The civic administration highlighted that many projects have been delayed due to the unavailability of land. Once allocated, the state land will help move forward essential projects like roadworks, riverbank beautification, and construction of water tanks. The PMC has secured approval for the land acquisition, which will require INR 25 crore for the 15 parcels.Read more

The Pune Municipal Corporation (PMC) has initiated efforts to recover commercial taxes from businesses operating in slum areas, aiming to generate approximately INR 100 crore in revenue. This move follows the civic body's struggle to recover dues from larger defaulters, including mobile towers that owe INR 3,500 crore. While PMC is focusing on slum-based businesses, civic activists have urged them to prioritise larger defaulters and discourage recurrent tax amnesty schemes. The Slum Rehabilitation Authority (SRA) projects have rehabilitated approximately 11,000 slum dwellers, yet challenges remain due to space constraints and the demand for rehabilitation within the same locations.Read more

The Pune Municipal Corporation (PMC) has intensified its crackdown on unauthorized constructions, demolishing over 125 illegal structures in Shivejinagar, Chandannagar, and Kondhwa. The drive targeted encroachments on Maha Metro land near Dengale Bridge and unauthorized shops and food stalls operating without permits. Despite prior warnings, many continued operations, prompting immediate action. The initiative is part of PMC's ongoing efforts to maintain public order and compliance with building regulations. As Pune faces rapid urbanization, such measures are crucial for ensuring organized development and preserving public spaces across the city.Read more

Madhuri Misal, Minister of State for Urban Development and Transport, has announced a critical meeting in Mumbai next week to address property tax collection and civic challenges in Pune's 34 merged areas. Discussions will cover seven to eight key topics, including a comprehensive development plan, streamlining urban planning responsibilities, and creating policies for biodiversity parks and hilltop areas. Misal also prioritized infrastructure issues, urging timely road repairs and strict action against delays. As Pune grows, this meeting aims to align development with community needs, ensuring improved civic services and sustainable urban growth under Pune Municipal Corporation's expanding role.Read more

The Pune Municipal Corporation (PMC) approved 16 high-rise projects in 2024, a 78% increase from 2023, marking the highest approvals since 2016. Defined under the UDCPR as buildings over 24 meters tall, some of these new projects reach up to 160.45 meters and are concentrated in areas like Balewadi, Kharadi, and Bopodi. While urban planners support vertical growth for urban densification, concerns remain about strained infrastructure. PMC officials emphasize rigorous scrutiny and improved infrastructure, including twin water pipelines, but residents fear increased traffic and water shortages. The PMC must balance urban growth with essential infrastructure to ensure sustainable development.Read more

The Pune Municipal Corporation (PMC) is inviting housing societies to apply for up to a 10% property tax rebate for 2025-26 by adopting green initiatives like vermiculture composting, rainwater harvesting, and solar energy systems. Applications are open until February 15, 2025, with operational projects qualifying for the rebate. In 2023-24, 128,000 properties applied for similar benefits, though inspections revealed maintenance lapses in some cases. The PMC is addressing this through community awareness programs and additional incentives. This initiative aligns with PMC's environmental goals, fostering a culture of sustainability while offering tax relief to compliant property owners.Read more

The Pune Municipal Corporation (PMC) has announced a new initiative to disconnect water supply from properties with unpaid property tax dues. The action will target both residential and commercial properties, with a particular focus on residential ones. The drive, which began on January 2, 2025, aims to recover significant revenue, with a target of INR 2,600 crore for the current fiscal year. To supplement their efforts, the PMC has also launched a music band initiative that has already raised INR 60 crore in a month. Legal advice is being sought to ensure that the measures taken comply with the law.Read more

The Pimpri Chinchwad Municipal Corporation (PCMC) has intensified its drive against property tax defaulters, sealing 202 properties in just three days. Over 10,000 properties with overdue payments exceeding INR 1 lakh each have been identified. The enforcement has spurred payments, with 398 defaulters clearing INR 9 crore in dues after the crackdown. PCMC, which oversees 6.3 lakh properties, has collected INR 569 crore in property tax revenue this year. Officials stress the importance of timely payments, noting that defaulters are notified before action. Even government offices with pending dues face penalties. This campaign aims to enhance municipal revenue for better services and infrastructure.Read more