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

Near Pune, 23 amalgamated villages' residents and local authorities are pleading with the state government to put the Unified Development Control and Promotion Regulations (UDCPR) into effect. Due to difficulties obtaining building permits brought on by the lack of Development Plan (DP) regulations, real estate development in these areas has halted. Construction is being hampered by this delay, which is also having an effect on developers and small property owners who need building permits. Given the anticipated population expansion, implementing the UDCPR could simplify this procedure and encourage development in certain areas. However, as the Pune Metropolitan Region Development Authority (PMRDA) currently possesses these rights, specific consent from the state government is required.Read more

The Maharashtra State Road Development Corporation (MSRDC) intends to lease two plots, one in Pune's Mangalwar Peth area and another in Lodhivali, Raigad district, both spanning around 87 acres, for a 60-year contract. They anticipate raising over Rs 358 crore through lease rent and a one-time premium. The Pune plot, conveniently located near the airport and railway station, is 8,900 sq mts, with expected lease rent of Rs 53.40 crore and a one-time premium of Rs 120 crore. The Lodhivali plot, close to industrial zones, spans 345,950 sq mts and aims for Rs 20.75 crore lease rent and a one-time premium of Rs 164 crore.Read more

Frustrated by the Pune Municipal Corporation's (PMC) delay in opening a bridge connecting Baner, Balewadi, Wakad, and Kaspate Vasti over the Mula River, residents filed a PIL in the Bombay High Court. The bridge, which cost over ?31 crore, was completed in the 2018-19 fiscal year but has remained closed. This has inconvenienced residents who are forced to take a longer route via the busy Mumbai-Bengaluru Highway to reach their destinations. PMC cites land acquisition issues as the reason for the delay, but residents seek court intervention to open the bridge promptly.Read more

Citizens and political activists in Pune are urging the city police and civic administration to allocate dedicated parking spaces during the upcoming 10-day Ganesh festival. Nitin Kadam, representing the Rashtravadi Urban Cell, has written to the city police commissioner proposing the use of school and college grounds in central areas as parking lots to alleviate the strain on roads. Kadam also suggested exploring the possibility of altering school timings during the festival. He proposed that schools could extend their hours until 4 pm, after which their infrastructure, such as grounds and open spaces, could be utilized for parking. This would not only help students avoid traffic chaos but also provide space for devotees to park their vehicles.Read more

The registration department's 27 offices in the Pune swiftly processed over 90% of 13,500 pending leave-and-license applications in just four days, addressing citizens' concerns about delays. This efficiency followed a directive from the joint district registrar to reduce document pendency to 50 at each office, resulting in a significant reduction in backlogs. The issue of delays in online document registration, previously attributed to software glitches, has been largely resolved, bringing relief to citizens and highlighting the importance of streamlined administrative processes and technology in governance.Read more

Naiknavare Developers, known for their community-centric projects in Pune, Mumbai, and Goa, have launched "Avasa Grassland," a premium plotted development in Chakan, Pune. This project is part of the larger Dwarka Township, offering plots ranging from 1836 sq ft to 3298 sq ft. Situated amidst a thriving community with excellent amenities and infrastructure, it's strategically located near major industrial zones and business centres. Residents will also enjoy a Forest Park, and the development includes various amenities like a Senior Citizen Sitting Area, Vegetable Garden, and more. This expansion reflects Naiknavare Developers' commitment to offering diverse real estate solutions.Read more

91Springboard, a prominent player in India's co-working space industry, has unveiled its latest Platinum Hub in Pune's bustling Baner neighbourhood. This 32,000-square-foot facility, the company's 27th hub nationwide, marks a significant achievement in its expansion strategy. The Baner Platinum Hub, capable of accommodating over 800 members, is strategically located in Pune's business district, making it an attractive destination for businesses of all sizes. Known for its superior design, comfort, lighting, sound control, and hospitality, the hub offers an innovative concept called 'Team Rooms' to cater to businesses' specific needs. This expansion reinforces Pune's appeal for start-ups and enterprises.Read more