The Maharashtra Pollution Control Board (MPCB) has issued a show-cause notice to Cybage Software for alleged environmental violations during the construction of its new building in Kalyaninagar, Pune. The notice, prompted by resident complaints, cites excessive noise levels and improper water discharge. MPCB officials also observed expired blasting permissions and inadequate soundproofing measures. Residents of the nearby Kumar Kruti Housing Society reported noise and dust disturbances, with some considering relocation due to health concerns. Cybage, maintaining that it holds all necessary clearances, must respond within seven days or face potential penalties. This case highlights the need for stricter environmental compliance in urban developments.Read more

Mastercard has announced the inauguration of a cutting-edge Tech Hub in Pune, India, marking the latest addition to the company's global technology hub network. This new facility, situated in the Bluegrass Business Park, will house over 6,000 technologists and engineers, making it Mastercard's largest workforce in a single city worldwide. Aligning with India's "Viksit Bharat" vision, the Pune Tech Hub will focus on tackling complex technological challenges, ensuring secure, seamless, and efficient payments globally, while also supporting the development of innovative solutions for the domestic market, including financial inclusion initiatives and Aadhaar-based services.Read more

The Maharashtra government has approved two new metro rail routes in Pune, aimed at enhancing urban mobility. The Khadakwasla-Swargate-Hadapsar-Kharadi and Nalstop-Dahanukar Colony-Warje-Manikbaug lines will span 31.63 kilometres, featuring 28 stations, and will be constructed by Maha Metro at an estimated cost of INR 9,897 crore. Union minister Murlidhar Mohol emphasised the significance of these developments for Pune's transportation infrastructure, while local MP Supriya Sule celebrated the long-awaited approval for improved connectivity. The project is expected to alleviate traffic congestion and bolster economic growth in the region.Read more

The Pune Housing and Area Development Board, a regional unit of MHADA, has opened the registration and application process for the sale of 6,294 housing units. These homes are spread across Pune, Pimpri-Chinchwad, Solapur, Kolhapur, and Sangli districts. The lottery offers units under various schemes, including the first-come, first-served and Pradhan Mantri Awas Yojana schemes. The government is also planning to expand affordable housing in areas like Alandi and Shirur, with redevelopment projects in old MHADA colonies. The online lottery for these units is scheduled in the coming weeks.Read more

Officials in Pune announced that the possession of new facilities will be handed over gradually in a phased manner, featuring world-class infrastructure including spacious courtrooms and amenities for staff and litigants. In a recent cabinet meeting, the naming of the subway and flyover on the Katraj-Kondhwa stretch of national highway in Pune after RSS sarsanghchalak Balasaheb Deoras was approved. This proposal was made by the Pune Municipal Corporation at the request of the Pune Medical Services and Research Foundation, recognising Balasaheb Deoras as the third sarsanghchalak of the Rashtriya Swayamsevak Sangh.Read more

VTP Realty's recent allotment event for its two WOW projects in Hinjewadi Phase 1 set a new benchmark in Pune's real estate market. Attracting over 1,000 prospective homebuyers, the day-long event showcased the grandeur and luxury of the projects, featuring impressive designs and world-class amenities. The overwhelming response resulted in numerous bookings, highlighting the strong demand for these exclusive properties. CEO Sachin Bhandari emphasised the company's commitment to exceeding customer expectations. VTP also engaged its global clientele through live streaming, further solidifying its leadership in the luxury real estate sector. This event transformed the landscape of property launches in Pune.Read more

The Pune Municipal Corporation (PMC) generated around INR 1,600 crore from property tax in the first half of the financial year, aiming for a target of INR 2,400 crore by March 2025. However, nearly 5.05 lakh property owners have yet to pay, with significant opposition from residents in merged areas due to inadequate facilities. While PMC initiated a drive to seal defaulters' properties, it faced pushback and paused the effort. Despite these hurdles, PMC collected approximately INR 2,400 crore from building permissions and is taking measures like property confiscation to improve tax recovery.Read more

The Pune Metropolitan Region Development Authority (PMRDA) has directed the concessionaire, Pune IT City Metro Rail Limited (PITCMRL), to submit a detailed micro plan for completing the 23km Metro Line 3 route by March 2025, ahead of a Central Government meeting on the project's viability gap funding. PMRDA has also sought a plan for the 1.7km integrated flyover, and has issued show-cause notices to the concessionaire for not repairing roads along the route. Deputy Chief Minister Ajit Pawar had recently called for round-the-clock work on the project to meet the deadline and ensure the roads used for traffic diversion are in good condition.Read more

Prime Minister Narendra Modi virtually inaugurated a 3.68-km section of the Pune Metro from District Court to Swargate, marking the completion of the first phase of the project. In his speech, he criticized the previous Congress-led UPA government for delaying the metro's progress, stating that no work had been done until his administration laid the foundation in 2016. The Prime Minister also launched projects worth INR 11,200 crore and laid the foundation for the metro's extension to Katraj. He emphasized the importance of modernizing Pune's transport and infrastructure to boost urban development and connectivity in Maharashtra.Read more

Rising Sun Holdings, co-owned by Adar Cyrus Poonawalla, has acquired approximately 2.20 lakh sq ft of office space across four floors in Pune's Cerebrum IT Park for a total of INR 395 crore. The seller, Zawareh Soli Poonawalla, facilitated the sale through four separate transactions. This significant investment aligns with Rising Sun Holdings' strategy to expand its presence in India's commercial real estate sector. The company has also diversified into hospitality and other high-value real estate segments, reinforcing its role as a major player in the market despite global economic challenges.Read more

Nvidia Corp has renewed its 375,000 sq ft office lease in Pune's Yerwada for a long-term period of 10 years, with a monthly rent set at INR 81 per sq ft. The agreement includes a 5% annual rent escalation, aligning with market standards for premium office spaces. Nvidia's presence in India, particularly in Pune, underscores the region's significance as a technology hub, driving advancements in AI, cloud computing, and more. As demand for tech solutions rises, Pune's commercial real estate market is expected to experience further growth in the coming years.Read more

A group of Uruli Devachi and Phursungi residents are preparing to challenge the recent decision to demerge the areas from Pune Municipal Corporation (PMC). They are worried about high property taxes and the lack of basic services. They believe creating a new municipal council won't fix these problems. They plan to take their case to the Bombay High Court. The locals plan to challenge the demerger notification in the HC. Protests have already taken place, and further legal steps are expected too.Read more

Knight Frank India's latest report reveals that Pune registered 13,397 property sales in September 2024, marking a 3% year-on-year increase. Stamp duty collections soared by 40%, reaching INR 592 crores. The residential sector in Pune continues its robust growth, with 127,108 properties registered in the first eight months of 2024, reflecting a 40% rise compared to 2023. Demand for mid-range and luxury homes, particularly in the INR 50 lakh to INR 1 crore segment, has driven this growth. Pune's real estate market remains strong, supported by rising incomes, positive buyer sentiment, and ongoing infrastructure developments.Read more

Around 18,000 properties in Pune Municipal Corporation's (PMC) newly merged areas remain outside the property tax system, resulting in a loss of INR 80 crore. The PMC has initiated disciplinary action against 45 officials for negligence. Despite merging 34 areas since 2017, many properties have yet to be taxed, causing dissatisfaction among property owners over high tax rates and inadequate infrastructure. PMC introduced reforms, including regular staff transfers, to improve tax collection. Activists allege collusion between officials and locals to avoid assessments. The PMC faces pressure to resolve loopholes and improve accountability in tax collection.Read more

315Work Avenue has expanded its presence by leasing 56,000 square feet of office space at International Tech Park Pune (ITPP), following a previous lease of 44,000 square feet in the same tech park. ITPP, a Grade A technology park developed by Ascendas-Singbridge, spans 2.5 million square feet. With six centers across 0.6 million square feet in Pune, 315Work Avenue now offers around 12,000 workstations. The company manages a total portfolio of approximately 2.5 million square feet and 50,000 workstations in Bengaluru, Chennai, Mumbai, and Pune, with plans to expand into New Delhi & NCR and Hyderabad.Read more

Prestige Exora Business Parks, a subsidiary of Bengaluru's Prestige Estates, has acquired a prime 4.57-acre land parcel in Pune's fast-growing Kharadi area for INR 200 crore. The deal, finalized in April 2024, marks Prestige's expansion into Pune's booming real estate market. Kharadi, known for its IT parks, corporate offices, and upscale residential developments, has become a hub for land investments due to its proximity to Pune's IT corridor and excellent connectivity via the Pune-Mumbai Expressway. Prestige's acquisition from B U Bhandari M&M Real Estate agents aligns with its strategy to capitalize on Pune's dynamic housing and commercial sectors.Read more

Suzlon Energy has sold its headquarters, One Earth in Hadapsar, Pune, for INR 440 crore to OE Business Park Pvt Ltd, supported by 360 ONE Alternates Asset Management. The company has leased back the property for up to five years, with the option to sublease parts of it. This sale-and-leaseback transaction is part of Suzlon's strategy to adopt an asset-light model, freeing up capital to support its growing 4 GW order book and drive long-term growth. The move aligns with Suzlon's goal of maintaining operational stability and creating sustainable value for its stakeholders.Read more

The Royal Western India Turf Club in Pune, a historic hub for horse racing, has undergone a major renovation led by Yohan and Michelle Poonawalla. The two-year project revitalised the venue by blending its rich heritage with modern amenities, aiming to attract new audiences and enhance financial sustainability. Key updates include refurbished guest rooms, restored cottages, and improved outdoor spaces. This transformation, driven by the Poonawalla family's deep-rooted passion for horse racing, reflects a broader trend of modernising sports venues while preserving their historical significance. The club now stands as a rejuvenated community hub for racing enthusiasts.Read more

Awfis Space Solutions has expanded its partnership with Nyati Group, securing an additional three lakh square feet of grade-A workspaces under its managed aggregation model. This move increases Awfis' total workspace with Nyati to five lakh square feet across Pune. The company now operates around one lakh seats across 169 centres in 17 cities. Awfis has also signed agreements for 15,668 more seats, reinforcing its growth. With a client base dominated by large corporations and MNCs, Awfis maintains a strong portfolio, reflecting its strategic focus on asset-light expansion and long-term client relationships.Read more

Pune has experienced a significant rise in property owners claiming tax discounts for rainwater harvesting, with numbers soaring from 306 in 2012-2013 to 3,716 in 2022-2023. Despite this tenfold increase, overall adoption remains low. The Pune Municipal Corporation (PMC) offers up to 10% tax rebates for rainwater harvesting, solar energy systems, and vermicomposting, with broader interest seen in the latter two. As water scarcity becomes a pressing issue, the PMC and local legislators stress the importance of rainwater harvesting in new constructions, aiming to enhance water conservation and sustainability efforts across the city.Read more