The Khadki Cantonment Board (KCB) has proposed the excision of 326 acres from its civilian zones and their integration with the Pune Municipal Corporation (PMC), impacting nearly 29,000 residents. This decision follows consultations with defence and civic authorities, including the Southern Command and Bombay Engineering Group. While the merger could enhance municipal services, it also raises concerns over security and development restrictions near defence establishments. Feedback from the PMC and state government remains pending, and no final decision has been made regarding the merger, which includes maintaining certain defence-controlled zones.Read more

Avalara India, a leader in tax compliance automation, has secured approximately 1,80,000 square feet of office space at Panchshil Business Park East in Viman Nagar, Pune. This acquisition highlights Avalara's strategy to expand its presence in India and leverage world-class infrastructure to support innovation and operational efficiency. Known for its cloud-based tax automation solutions, Avalara simplifies tax challenges across industries. The deal, facilitated by CBRE India, further establishes Panchshil Business Park East as a premier destination for global enterprises.Read more

The Pune Municipal Corporation (PMC) has successfully recovered over INR 34 crore from property tax defaulters in the past fortnight by using music bands. These bands play loud music outside properties of defaulters, mostly commercial establishments, to shame them into settling their dues. The defaulters have not paid taxes for periods ranging from one year to ten years. Despite sending recovery notices, many owners had failed to respond, prompting this unconventional approach. PMC continues its efforts to meet a property tax revenue target of INR 2,600 crore for the 2024-25 fiscal year.Read more

PNT Reporter

The Mhalunge-Maan town planning scheme in Pune is set for progress in 2024. Covering 250.5 hectares and benefiting 5,800 residents, the scheme aims to develop a sustainable urban space with planned infrastructure and land use. Aligned with PMRDA's broader urban growth plans, the scheme supports the proposed 128-km inner ring road and adopts a land redistribution model inspired by Gujarat. Residents will receive 50% of developed land, with an arbitrator overseeing allocations. Alongside five other town planning initiatives spanning 751.55 hectares, the project seeks to enhance connectivity, attract investments, and improve living standards, marking a key milestone in Pune's urban development.Read more

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NES, the data centre arm of TCC, leased its 4 MW IT capacity facility in Hinjewadi, Pune, to a leading data centre company. Completed in just four months, the facility supports high-density racks and advanced IT needs, showcasing NES's technological expertise and operational excellence. Its strategic location in Pune's IT hub added to its appeal. Managing Director Umesh Sahay praised the achievement, highlighting the industry trust and NES's commitment to innovation. This milestone marks NES's strong entry into the data centre sector, positioning it as a key player in delivering top-tier, scalable IT solutions for the future.Read more

PNT Reporter

The Pune Metro is a major rapid transit initiative designed to ease travel within one of Maharashtra's most dynamic cities. Officially approved in 2016 and operational from March 2022, the system currently includes two lines spanning over 31 kilometers, serving vital residential, commercial, and industrial zones. Developed by Maharashtra Metro Rail Corporation Limited (MahaMetro), it employs modern rolling stock, automated fare collection, and eco-friendly features like regenerative braking and solar power utilization. Despite cost escalations, construction delays, and fluctuating ridership, the planned addition of a third line and future extensions signal long-term growth. The Pune Metro aspires to deliver reliable, efficient, and sustainable urban transportation.Read more

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The Pune Metropolitan Region Development Authority (PMRDA) has sought structural inspections of 4,883 flats built under the Pradhanmantri Awas Yojana, after multiple complaints from residents regarding issues like ceiling leaks, bathroom problems, and toilet leakages within a year of moving in. The flats, constructed for economically weaker sections and low-income groups, were handed over to beneficiaries last year. PMRDA has contacted IIT Bombay and CoEP Technical University for the inspection to ensure the safety of the buildings. Developers are working on repairs, but some issues, like lack of manpower and security removal, have raised concerns among residents.Read more

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The Pune Metropolitan Region Development Authority (PMRDA) recently filed six FIRs against illegal constructions and has submitted applications for three additional cases. Despite prior stop-work notices, construction activities continued, leading to legal actions. Demolitions were paused for two months following a Supreme Court directive limiting such actions to structures on roads and water bodies. With election duties concluded, PMRDA plans to resume normal operations, including demolitions of unauthorised structures. The department ensures that complaints are investigated, and opportunities are provided to regularise structures where possible, but restricted or unapproved constructions face demolition.Read more

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Pune's real estate sector witnessed a sharp increase in October 2024, registering over 20,894 properties-a 39% year-on-year growth-driven by festive demand and favorable economic conditions, according to Knight Frank India. Stamp duty collections also surged 52% to INR 751 crores during the month. The city recorded 159,306 registrations in the first 10 months of 2024, reflecting a 30% rise from the previous year. Demand for larger apartments and luxury homes grew, with properties above INR 1 crore making up 14% of October's sales. Central Pune led transactions, holding 80% of the market share, as infrastructure development and affordability continued to attract buyers.Read more

The Pune Municipal Corporation (PMC) faces a projected INR 300 crore shortfall in property tax collections, primarily due to election-related restrictions and halted tax recovery in newly merged areas. By October, PMC collected INR 1,725 crore against its INR 2,600 crore target, with an additional INR 600 crore expected by March 2025. Efforts to enhance recovery in merged villages have been stalled by the poll code and state directives. With property tax as a key revenue source for its INR 11,601 crore budget, PMC must explore alternative strategies and collaborate with state authorities to stabilize finances and meet fiscal commitments.Read more

Pune has established itself as a prominent co-working hub in India, ranking second in the country for office space collaboration transactions. Between 2018 and September of this year, Pune recorded 123 transactions, driven by a rising preference among companies for flexible co-working environments over standalone offices. Knight Frank's report covering eight major metropolitan cities reveals that Pune's growing co-working market is part of a larger trend nationwide. Bangalore remains the leader, yet Pune's substantial growth highlights the city's pivotal role in India's evolving office space sector.Read more

The Pune Metropolitan Region Development Authority (PMRDA) has approved over 200 projects after developers identified alternative water sources beyond the municipal limits. These clearances follow PMC and PCMC's inability to supply water to areas outside their jurisdictions. Developers pledged to obtain water from the Pune Zilla Parishad and Maharashtra Jeevan Pradhikaran. Both PMC and PCMC face water shortages due to rising demand and limited resources, stressing the need for sustainable solutions. PMRDA's approach balances the expansion of infrastructure with resource management, urging developers to secure dependable water sources for sustained growth across the Pune metropolitan area.Read more

Shriram Properties Limited (SPL) has signed a Joint Development Agreement for a six-acre land parcel in Undri, Pune, to develop a mixed-use project featuring over 650 apartments and retail/commercial spaces. With a total saleable area exceeding one million square feet, the project has an estimated revenue potential of INR 700-750 crore and is expected to launch in H2 FY25. SPL also plans to secure rights for an additional eight acres primarily for retail and commercial development.Read more

Panchshil Realty's subsidiary, Wagholi Estates, sold a 4.8-acre land parcel in Pune's Wagholi to Vilas Javdekar Infinitee Developers for over INR 103 crore. The land is part of Panchshil's 4.5 million sq ft IT park project, with 1 million sq ft designated for residential development in this mixed-use layout. Registered on October 21 with a stamp duty of INR 7.21 crore, the transaction highlights growing demand for land in high-growth areas like Pune. As major cities such as Mumbai, Chennai, and Bengaluru expand, developers and investors are actively pursuing land for new residential, commercial, and mixed-use projects.Read more

Residents and members of the Pimpri Chinchwad Cooperative Housing Societies Federation (PCCHSF) have opposed the municipal corporation's proposal to convert 1.55 hectares of land in Tathawade from a public semi-public zone to residential use. They argue that this decision could set a precedent for similar conversions, jeopardizing public amenities. A senior PCMC official noted that citizens have time to raise objections before the proposal is sent to the state government for a final decision. Concerns were also raised about the impact on local education and the lack of elected representatives to voice citizens' needs.Read more

The Pimpri Chinchwad Municipal Corporation (PCMC) is intensifying efforts to register unregistered properties, issuing notices to 52,787 owners identified during a comprehensive property assessment survey. Over 200,000 properties lack registration, with 4,261 owners responding by paying dues. PCMC has completed geo-sequencing for 855,000 properties and employed drones for effective identification. Utilising QR codes on notices, residents can file objections online, enhancing accessibility. Currently, PCMC has 630,000 registered properties, collecting INR 977 crore in property taxes for FY 2023-24. The initiative aims to increase annual tax revenue to INR 1,500 crore, improving city infrastructure and services.Read more

Property transactions in Pimpri Chinchwad are set for a transformation as the civic administration finalises the integration of data between the property tax department and the Inspector General of Registration (IGR) office. This automation will eliminate the need for separate registration applications, expediting property transfers. Once the data is updated, owners will receive notifications to pay transfer fees online, which will be included in property tax bills if unpaid. Deputy Municipal Commissioner Avinash Shinde highlighted that this integration aims to rectify issues with outdated ownership information, ensuring accurate billing and reducing penalties for delayed payments.Read more

Pune's property market saw high growth in the year 2024, with 1,38,412 registrations during the first nine months, up 29% year-on-year (YoY). Stamp duty collections surged by 38%, exceeding INR 5,253 crores. However, September 2024 witnessed a 33% drop in property registrations due to the inauspicious 'Shraadh' period, leading to a 13% decline in stamp duty collections to INR 508 crores. Luxury properties worth INR 1 crore and above rose to 14%, while demand for larger homes continued. Central Pune dominated with 80% of transactions, though West Pune's share grew to 12%, reflecting the city's evolving residential preferences.Read more

Delays in state approvals are jeopardising six proposed town planning schemes in the Pune Metropolitan Region, including Maan-Mhalunge and others. Designed on the Gujarat model, these projects aim to develop around 1,000 hectares but are causing uncertainty among landowners. While the central government is expected to allocate infrastructure funds, the ongoing delays may hinder the timely implementation of these vital developments.Read more

Pune's property market saw a 33% drop in registrations in September 2024, with only 11,056 units registered, compared to 16,604 in the same month last year. This decline is largely attributed to the cultural observance of the Shraadh period, during which buyers avoid significant financial transactions. Despite this temporary downturn, Pune's property market has shown resilience overall. From January to September 2024, property registrations grew by 29%, totaling 138,412 units, and stamp duty collections reached INR 5,253 crore, a 38% year-on-year increase. Shishir Baijal, Knight Frank India's Chairman, emphasized Pune's strong market fundamentals, driven by rising incomes, positive buyer sentiment, and ongoing infrastructure development.Read more