Pune-based Ceratec Group has rebranded to better reflect its modern vision and evolving market aspirations. The new identity, including a redesigned logo and the tagline "Exceeding Expectations," replaces the 2000 logo, symbolizing a commitment to innovation and high-quality service. Managing Director Anand Agarwal emphasized that the update aligns with their expanded service portfolio and shifting market trends. Founded in 2000 and transitioning from marble to real estate, Ceratec has developed over 65 acres in Pune and is currently focused on projects in Ravet, Hinjewadi, Balewadi, and Baner. The rebranding aims to enhance their role in Pune's dynamic real estate sector.Read more

Pune's property market is thriving, with a 60% increase in property registrations in June 2024 compared to June 2023, amounting to over 14,230 properties, as reported by Knight Frank India. Stamp duty collections also rose by 90% year-on-year. The first half of 2024 saw 97,294 property registrations, a 44% rise from the previous year. Factors driving this growth include affordability in the mid-range segment and a preference for larger apartments. Central Pune remains the main hub, but areas like West Pune are emerging as new hotspots. The market shows a strong positive trend for the rest of the year.Read more

Embassy REIT, India's first listed REIT, is considering the sale of its Quadron office campus in Pune's Hinjawadi suburb as part of a strategic move to optimize its portfolio. The Quadron property has significantly lower occupancy at 54% compared to the REIT's other Pune assets, Embassy Tech Zone and Embassy Qubix, which are performing exceptionally well. The REIT is expected to fetch over INR 1,200 crore for the 1.9 million square feet Quadron asset, which commands standard Grade-A office rents in the area. The planned sale comes as the REIT looks to finance the acquisition of new projects, particularly from its manager, the Embassy Group.Read more

Ceratec Group launches Presidential Towers in Ravet, Pune, featuring 2 and 3 BHK homes across a 4.1-acre development. Offering units from 727 sq. ft. to 1031 sq. ft., the project ensures luxury with modern finishes. Strategically located, it provides easy access to the Mumbai-Pune Expressway, Hinjewadi IT hub, and top educational institutions. Amenities include a fitness centre, swimming pool, and lush gardens. Scheduled for possession in December 2025, the project sets new benchmarks for urban living, aligning with Ceratec Group's 25-year legacy of quality and innovation.Read more

The Pune Municipal Corporation (PMC) is launching an initiative to identify unreported rental properties and recover lost revenue from property taxes. Previously, PMC offered a 40% discount on property tax for self-occupied properties, but many rented properties continued to claim this discount, causing significant revenue loss. Out of 4.5 lakh required submissions, 3.5 lakh homeowners failed to provide self-occupancy affidavits. A pilot project revealed many properties wrongly enjoying the discount. By collaborating with housing societies to identify rentals, PMC aims to generate an estimated INR 100 crore (approximately USD 1.2 million) in additional revenue.Read more

Pune's luxury real estate market has hit a new high with the sale of the "Emperor Palace" penthouse at Lodha One Bund Garden for an unprecedented INR 37 crore. This expansive 12,000-square-foot property, perched atop a residential tower, offers panoramic views of 500 acres of lush greenery, redefining luxury living in the city. Built by Lodha, the penthouse exemplifies Pune's growing demand for exclusive gated communities with top-tier amenities. This sale marks a significant milestone, surpassing previous high-end property sales and signaling continued growth in Pune's luxury real estate segment.Read more

Godrej Properties is expanding its presence in Pune with the acquisition of an 11-acre land parcel in Hinjewadi, a prime IT hub. This new project will feature mixed-use development, including housing and retail, with a potential of 2.2 million square feet and an estimated revenue of INR 1,800 crore. This move highlights Godrej Properties' confidence in Pune's real estate market, driven by its strong IT sector, educational institutions, infrastructure development, and pleasant climate. Their strategy includes a recent debut in Hyderabad and is supported by robust financial performance, despite a minor GST demand challenge.Read more

Ravet, a developing suburb on the outskirts of Pune, has gained significant popularity due to its location and affordable housing options. This emerging locality offers a mix of high-rise apartments and gated communities, attracting a diverse population. Proximity to the Pune-Mumbai Expressway and the Hinjewadi IT Park makes it appealing to working professionals. In June, Om Yashodham led real estate activity with five deals, followed by Sonigara Presidency. Apartment sizes in Ravet range from 336 to 698 square feet, with prices averaging around INR 8,258 per square foot. The area continues to grow, balancing urban conveniences with a peaceful environment, making it a sought-after destination for homebuyers and investors.Read more

The Pune Municipal Corporation (PMC) has begun demolishing 15 illegal properties along DP Road, from Mhatre Bridge to Karvenagar, in compliance with a recent Bombay High Court ruling. The court denied interim relief to property owners who had reconstructed structures despite previous demolitions. The properties, including marriage halls and eateries, were demolished to uphold environmental standards. PMC officials, noting past legal challenges, underscored their commitment to executing court orders and preserving the green belt area. This action marks a continuation of efforts to curb unauthorised constructions and maintain ecological balance in the city.Read more

Wagholi, a developing suburb in eastern Pune, has transformed from a small village into a residential and commercial hub, because of its proximity to IT parks like Kharadi. The area has seen significant real estate growth, with numerous residential complexes and affordable housing projects attracting young professionals and families. In May, Rudra Apartments and Supertech Defence Colony Phase IV led the sales, highlighting Wagholi's diverse housing options and strong market appeal. While infrastructure development is ongoing, Wagholi's mix of urban amenities and semi-rural charm, combined with its affordability, continues to draw a wide range of homebuyers, ensuring its ongoing growth and popularity.Read more

Bajaj Housing Finance, managing INR 91,370 crore (USD 10.8 billion) in assets as of March 2024, has announced an IPO to raise fresh capital and meet RBI regulations. The news boosted parent company Bajaj Finance's shares by over 4%. Bajaj Finance reported a 21.1% increase in Q4 net profit to INR 3,824.53 crore (USD 454 million). The IPO aligns with RBI's mandate for large NBFCs to list by September 2025. This move positions Bajaj Housing Finance among top listed mortgage lenders, potentially enhancing market competition and benefiting homebuyers with more loan options and competitive rates.Read more

Mahindra Lifespace Developers Limited (MLDL) reveals the final phase of Mahindra Happinest Tathawade in Pune, reporting rapid sales in earlier phases. Tower A, offering 2 BHK units and duplexes, is part of this sought-after development in the PCMC area. MLDL introduces highway-facing offices and shops, enhancing resident convenience and reaffirming its commitment to thoughtful amenities. Positioned near the Mumbai-Pune highway and Hinjewadi IT hub, the project benefits from its strategic location. Designed for modern living, Mahindra Happinest Tathawade addresses post-pandemic lifestyle needs with unique amenities and efficient space utilization. Residents enjoy easy access to transit points, health facilities, and retail options, ensuring a holistic living experience.Read more

Pune-based EFC (I) Ltd., a provider of flexible workspaces with integrated fit-out solutions, reported a remarkable 1,537% increase in net consolidated profit after tax, reaching INR 63.17 crore for the fiscal year ending March 31, 2024 (FY24), up from INR 3.86 crore the previous year. Total sales surged by 3,126% to INR 428.78 crore, compared to INR 104.06 crore in FY23. This impressive growth is driven by the rising demand for flexible workspaces among startups and small businesses in India. EFC (I)'s integrated approach, combining office space and fit-out solutions, positions them uniquely in this expanding market.Read more

Paranjape Schemes, a leading real estate developer in Pune, has successfully handed over 1,000 units across their projects in Blue Ridge Township, Forest Trails Township, and Wakad, covering a total carpet area of 450,000 square feet. This achievement underscores the brand's commitment to delivering quality homes to their customers. With these new additions, the company's presence in Pune has grown significantly, with over 5,000 units already delivered in Groves (Blue Ridge) and more than 2,000 residences in Athashri (Forest Trails). The company's premium project, The Broadway in Wakad, has also received a great response in the previous phase. These newly completed units are a testament to the company's dedication to exceptional execution and unwavering quality standards, solidifying its efficiency and reliability in the real estate sector.Read more

Prachay Capital, a prominent Pune-based NBFC, has teamed up with Knest, an Indian Aluform manufacturer, to offer financing solutions for the real estate sector. Developers often struggle with upfront costs for Aluform, crucial for high-rise buildings. Prachay's Equipment Lease Finance (ELF) and Equipment Purchase Finance (EPF) programs alleviate these financial pressures by providing flexible payment plans. Unveiled at YouthCon, Delhi, in March 2024, these solutions received enthusiastic responses, highlighting a significant shift in real estate financing. This initiative positions Pune's real estate sector for accelerated growth, benefiting from Prachay Capital's innovative approach.Read more

Aundh, in western Pune, Maharashtra, is a rapidly growing residential and commercial area known for its infrastructure and proximity to IT hubs. It offers diverse housing options, from high-rise apartments to bungalows, along with educational institutions, healthcare facilities, shopping malls, and recreational spaces. In April, Raagdari Apartments, Shriramnagar Apartment, and Anand Park Aundh each closed three deals, with most transactions being resales. Prices ranged widely, with Marvel Sindh Society at INR 28 crores and budget options like Shriramnagar Apartment at INR 6 lakhs. Aundh's varied apartment sizes and prices cater to diverse buyer preferences, reinforcing its desirability.Read more

Pune-based Roadway Solutions India Infra Limited (RSIL) has secured two major infrastructure projects in Maharashtra, valued at a combined total of INR 4,900 crore (USD 590 million). This win strengthens RSIL's position in India's infrastructure sector. The projects include constructing a 24.5-kilometer access-controlled Pune Ring Road and a 13.43-kilometer expressway connector between Jalna and Nanded. These projects, along with recent equity infusion of USD 120 million, boost RSIL's order book to over INR 11,000 crore. Senior VP B.K. Singh emphasized RSIL's commitment to innovation and excellence in transforming India's infrastructure landscape.Read more

Pune's real estate market experienced a significant boost in Q1 2024, with sales transactions rising by 49% to 27,056 and the total sales value increasing by 56% to INR 17,837 crore (USD 2.2 billion), according to Square Yards Data Intelligence. Leading developers like VTP Realty, Kolte Patil Developers, and Vilas Javdekar Developers drove this growth, with VTP Realty achieving sales over INR 950 crore (USD 1.1 billion). Affordable housing remains in demand, with 45.4% of transactions under INR 50 lakh (USD 625,000). Nearly 200 new projects were launched, covering 1.17 crore square feet, underscoring Pune's continued attractiveness for investment.Read more