Pune News Desk

24 Feb 2026

The Pune Municipal Corporation general body has unanimously rejected a proposal to raise property tax by five per cent for the upcoming financial year, choosing instead to retain existing tax rates. The move was backed by councillors across party lines who expressed concern about imposing additional financial burdens on city residents and emphasised the need to improve tax collection efficiency and bring more properties into the tax net rather than increasing rates. Meanwhile, the Pimpri Chinchwad Municipal Corporation is also expected to maintain the status quo on property tax, as procedural and legal requirements including the constitution of a standing committee needed to approve any hike have not been fulfilled, effectively stalling proposals for revised levies. Critics and civic leaders have urged administrative reforms to strengthen revenue performance without raising tax rates.Read more

Pune News Desk

24 Feb 2026

Intercontinental Exchange has significantly expanded its footprint in India through a long-term lease of nearly 2 lakh sq ft of office space in Pune's Magarpatta Cybercity, signalling confidence in the city as a strategic hub for global capability centres (GCCs). The space spans nine floors in Tower S3 and will serve as a Global Capability Centre for ICE Mortgage Technology India, supporting product engineering, technology operations and back-end services for its global platforms. The lease includes a monthly rental of INR 1.73 crore with periodic escalation clauses and underscores the broader trend of multinational firms choosing Pune for scalable, large-format office campuses. The move reinforces Pune's growing stature among India's leading cities for corporate office demand and technology-led real estate growth.Read more

Pune News Desk

24 Feb 2026

Pune's real estate market opened the year with a moderation in recorded transactions, as property registrations in January 2026 declined by 17 per cent on a year-on-year basis, according to a market report by Knight Frank India. Data compiled from the Inspector General of Registration and Controller of Stamps, Maharashtra showed that 14,527 properties were registered in the district during the month, compared with 17,449 in the same month last year. Stamp duty collections weakened by 5 per cent, totaling around INR 609 crore, suggesting that while fewer transactions were recorded overall, higher-value deals helped sustain revenue intake more robustly than volumes. Market observers noted that the slower registration pace follows a high base in early 2025, and that the relatively smaller dip in revenue points to continued traction in mid-to-premium segments. The trend suggests a market recalibration rather than a sharp contraction in demand.Read more

22 Feb 2026

Mantra Properties has launched a 45-day home buying initiative titled Zero is the new hero, running from mid-February to the end of March across all its ongoing Mantra and Burgundy projects in Pune. The campaign is structured around eliminating multiple upfront and ancillary costs typically associated with residential purchases, including GST, booking amount, floor rise, premium charges, legal fees and loan processing charges. By absorbing or rationalising these components within the overall pricing framework, the developer aims to present a clearer and more predictable cost structure for buyers. The initiative is positioned against Pune's steady residential absorption trends, with Mantra seeking to reduce decision friction and improve transparency at a time when pricing complexity often delays purchase commitments.Read more

Pune News Desk

22 Feb 2026

The Maharashtra government has directed the Pune Metropolitan Region Development Authority (PMRDA) to prepare a draft structure plan for the Pune Metropolitan Region (PMR), aiming to establish a strategic framework for future urbanisation, infrastructure and public utilities. The move follows legislative changes introduced in the Maharashtra Regional and Town Planning (MRTP) Act that replace detailed development plans with broader structure planning at the regional level. The draft will focus on high-level regional mobility corridors, road hierarchies, essential services and identification of environmentally sensitive areas, without delving into plot-specific land use zoning. Officials said the plan is expected to be completed within six months and will form the basis for subsequent detailed planning efforts to accommodate anticipated population growth and spill-over from core cities such as Pune and Pimpri-Chinchwad. Chief Minister Devendra Fadnavis emphasised that the structure plan will underpin coordinated infrastructure and development projects across the metropolitan region.Read more

Pune News Desk

20 Feb 2026

The Maharashtra state government has formally designated the Pune Municipal Corporation (PMC) as the planning authority for 23 areas that were merged into its jurisdiction in 2021, resolving long-standing administrative and planning ambiguities. Under the new arrangement, PMC will take over responsibilities previously held by the Pune Metropolitan Region Development Authority (PMRDA) for issuing building permissions, approving development plans, and overseeing infrastructure upgrades in these merged areas. The move follows sustained advocacy by local representatives, civic officials and residents to streamline governance and address delays that affected civic services and development. State officials have revoked PMRDA's special planning authority status in the merged villages, and formal handovers of planning documents and revenue streams are expected shortly. Proponents say the change will enhance regulatory clarity and accelerate planned urban development in fringe localities of Pune.Read more

Pune News Desk

18 Feb 2026

A Pune Municipal Corporation (PMC) enforcement action has resulted in a private real estate developer being fined INR 10 lakh for illegally dumping construction debris on the Mutha riverbed near key city landmarks, including areas close to the PMC headquarters, Amruteshwar Ghat and Jayantrao Tilak Bridge. The civic body also sealed the associated construction site and issued a stop-work order, with officials initiating criminal proceedings against the builder and associated parties for environmental violations. The action followed public outcry after images of debris disposal circulated on social media, prompting a probe by the solid waste management department. PMC authorities said they are drafting new debris management policies and plan to establish dedicated secured dumping centres across the city to prevent further unlawful waste disposal and protect river ecology.Read more

18 Feb 2026

Saheel Properties recently inaugurated Luxton by Saheel in Wakad, marking the start of construction and a new approach to residential living in Pune. Positioned as the city's first 5-star lifestyle residence, Luxton integrates hotel-inspired comfort and attention to detail into everyday life. The project offers unique features like a 4,000 sq. ft. grand lobby, rooftop club, Rooftop Aqua Theatre, and designer home interiors. With dedicated work-from-home pods, wellness zones, and community spaces, it reflects modern lifestyle needs. Luxton builds on Saheel Properties history of introducing Pune-first innovations, offering a home that balances convenience, wellness, and social living.Read more

Pune News Desk

16 Feb 2026

An allegedly unauthorised reinforced cement concrete (RCC) structure on Pune's Baner Hills has continued to stand more than five years after the Pune Municipal Corporation (PMC) issued an order for its demolition, prompting renewed concerns from local residents and environmental groups about delayed enforcement. The structure, located in a zone reserved as a biodiversity park (BDP), was found to have been constructed without civic approval, and a notice was issued at the end of 2020 directing its removal within 30 days. Despite this, the structure which houses a statue remains intact, with activists and citizens groups urging prompt action to address potential safety risks given its proximity to a busy highway. PMC officials have said the matter is currently subject to ongoing court proceedings.Read more

11 Feb 2026

Daily ridership on Pune Metro has stabilised at about 200,000 passengers over the past four months, indicating that commuter adoption has reached a plateau following the opening of new sections and service extensions, officials said. The figure reflects sustained use of the rapid transit system despite expectations of further growth as additional corridors are completed. Transit authorities noted that ridership had climbed steadily in earlier months as new stretches were commissioned, and the current stability is seen as a consolidation phase ahead of future expansions. Pune Metro's ridership stability underscores its emerging role as an important component of the city's public transport network, even as last-mile connectivity and feeder services remain key to driving further increases.Read more

10 Feb 2026

The Pune Municipal Corporation has intensified efforts to recover long-pending property tax dues by targeting 58 major defaulters, mostly from the commercial real estate segment. After repeated notices failed, the civic body has begun sealing properties and initiating legal attachment, with provisions for online auctions if payments remain unpaid. Property tax arrears in Pune currently stand at nearly 5,500 crore, excluding disputed cases. While collections have improved this year, unpaid dues from a small group continue to strain revenues. The PMC has also adopted public naming measures to encourage compliance. Citizen representatives support strict recovery from defaulters, stressing that improved enforcement is preferable to increasing property tax rates.Read more

09 Feb 2026

Global logistics automation company Vanderlande has opened its India Innovation Centre in Pune, strengthening its technology development and customer support capabilities in the Asia-Pacific region. The new facility will focus on research, software development and testing for automation solutions across airport baggage handling, parcel logistics and warehouse operations. Leveraging India's engineering talent, the centre will support product customisation, system integration and faster deployment for aviation, e-commerce and logistics clients. It will also play a role in training and skill development for next-generation automated operations. The Pune centre complements Vanderlande's global network and reflects growing demand for automation driven by rising volumes, labour challenges and the need for faster, more reliable logistics systems.Read more

Pune News Desk

07 Feb 2026

The Union Budget for 2026-27 has allocated INR 517 crore for the Pune Metro project to support ongoing construction and planned network expansion. The funding is aimed at completing pending Phase I works and moving preparatory activities for Phase II corridors. Key focus areas include the Pimpri Nigdi elevated stretch and the Swargate Katraj underground section. With daily ridership remaining above two lakh passengers, the allocation reflects sustained demand for metro services across Pune and Pimpri-Chinchwad.Read more

Pune News Desk

06 Feb 2026

The Pune Municipal Corporation (PMC) has placed before its standing committee a proposal to raise property tax by 10 per cent for the upcoming financial year, prompting widespread criticism from citizens' groups and activists. The proposal, intended to bolster civic revenue amid rising expenditure and slow growth in income, will be considered by the committee in the coming days, with final approval required from the full civic body before mid-February. Critics argue that increasing tax for compliant property owners is unjust when substantial dues, reportedly around INR 7,000 crore, remain uncollected from major defaulters, including commercial entities, government departments and disputed claims. Opponents have urged the administration to prioritise recovery of outstanding taxes and to explore alternative revenue avenues rather than imposing a higher tax burden on ordinary taxpayers. The issue has become contentious in the run-up to key municipal budget decisions.Read more

Pune News Desk

05 Feb 2026

Godrej Properties Ltd has strengthened its Pune footprint by acquiring an 8.5-acre land parcel in the rapidly growing Mahalunge micro-market, marking a strategic expansion in one of India's most dynamic residential hubs. The acquisition was made through an outright purchase and is planned primarily for group housing development with a developable potential of about 2.1 million square feet and an estimated revenue potential of approximately INR 2,000 crore. Situated in the Mahalunge-Maan-Nande belt within the Mahalunge-Hinjewadi corridor, the site benefits from strong connectivity, proximity to key employment hubs such as Hinjewadi and Baner-Balewadi, and emerging infrastructure including the upcoming Pune Inner Ring Road. Godrej's leadership views the land purchase as a critical step in deepening its presence across high-potential micro-markets in major Indian cities.Read more

Pune News Desk

02 Feb 2026

Maharashtra Metro Rail Corporation Ltd (Maha Metro) has invited bids for key infrastructure works on the Ramwadi Wagholi section of the Pune Metro Phase-2 expansion, signalling progress on one of the city's largest upcoming transport corridors. The tender covers construction of an elevated Metro viaduct and a six-lane elevated road beneath it along a 4.8-km stretch between Ramwadi and Tuljabhavani Chowk, part of the longer 11.6-km corridor featuring 11 stations. Both works are planned to be executed in tandem to minimise disruption and to integrate transit and road infrastructure. The broader Phase-2 project, approved by the Union Cabinet, is estimated at around INR 3,626.2 crore and will extend the Pune Metro network eastwards to Wagholi, improving connectivity on heavily congested routes and supporting urban mobility. Maha Metro has scheduled pre-bid engagement and set a timeline for bid submissions, with construction expected to span 42 months from commencement.Read more

Pune News Desk

01 Feb 2026

Stamp duty collections from Pune's property market crossed approximately INR 7,119 crore in calendar year 2025, the highest annual total in the past four years, even as property registrations edged down marginally, according to real estate consultancy Knight Frank India. The city recorded around 1,85,657 registrations during the year, reflecting a 2.3 per cent year-on-year decrease, but sustained demand for higher-value homes supported revenue growth. In December 2025, registrations were lower than the same month a year earlier, influenced partly by a high comparative base, yet values indicated continued underlying demand. Smaller homes up to INR 1 crore continued to account for the bulk of registrations, while larger units saw modest share growth, underscoring enduring interest in both mid-segment and premium housing in Pune's residential market.Read more

01 Feb 2026

Pune's residential property market continued to display strong end-user demand in 2025, with housing sales significantly outpacing new supply, according to the Pune Housing Report 2025 by CRE Matrix in association with CREDAI Pune. The city recorded around 81,000 registered apartment sales during the year, compared with 64,000 new housing launches, indicating demand running well ahead of supply. Transaction values crossed INR 63,000 crore, reflecting a marked shift towards larger homes and higher ticket sizes. While homes priced below INR 1 crore continued to dominate overall volumes, premium and luxury segments saw the fastest growth. Supply additions were impacted by approval delays across multiple planning authorities, resulting in fewer new project launches. Despite these constraints, Pune remained India's most affordable major housing market while leading the country in residential sales volumes.Read more

22 Jan 2026

The Pune Municipal Corporation has extended its property tax amnesty scheme after collecting INR 713 crore from defaulters during the initial phase. Around 1.24 lakh property owners cleared pending dues by availing a 75% waiver on penalties. The scheme helped ease long-standing tax arrears that had increased due to monthly penalties on delayed payments. Encouraged by the response, the civic body decided to allow more time for additional defaulters to participate. The collections are expected to support municipal finances as budget preparations continue.Read more

17 Jan 2026

Kolte-Patil Developers Ltd has entered into a joint development partnership with a landowner to develop a residential project in Pune, with an estimated revenue potential of INR 850 crore. The proposed housing project will be developed at Bhugaon and will have a total developable area of around 1.1 million square feet. The company disclosed the transaction in a regulatory filing, stating that the project's expected gross developable value reflects the total sales potential of the development. The identity of the landowner has not been disclosed. The agreement aligns with Kolte-Patil Developers strategy of expanding through asset-light partnerships in key residential markets.Read more