29 Oct 2025

A Pune builder has withdrawn from a proposed land deal with a Jain charitable trust after public protests and circulating rumours of irregularities. The project, involving about 12,000 m2 (3.5 acres) owned by the Seth Hirachand Nemchand Smarak Trust, had already progressed to a sale at INR 311 crore. The developer, Gokhale Landmarks LLP, cited the ethical implications and reputational damage as reasons for ending the transaction, and requested the trust to cancel the arrangement and refund INR 230 crore paid so far.Read more

28 Oct 2025

Smartworks Coworking Spaces Ltd has leased more than 500 seats at its Pune centre to Davies Shared Services (India) Pvt Ltd, the Indian subsidiary of UK-based global professional services firm Davies. The company, which recently went public, manages around 12 million sq ft of workspace across 14 Indian cities and Singapore. Smartworks follows a model of leasing large bare-shell properties from landlords and subleasing them to medium and large enterprises. It also recently leased 5.57 lakh sq ft at Intellion Park, Navi Mumbai, marking its largest campus in the city.Read more

28 Oct 2025

Pune's housing market witnessed a sharp rise in property activity during the past month, with registrations increasing by 23% year-on-year and stamp duty revenues reaching INR 523 crore, according to Knight Frank India. Over 1.45 lakh properties were registered in the first nine months of the year, marking the highest volume in four years. The shift in the festive calendar supported buyer sentiment, while the demand for larger homes and properties priced above INR 1 crore continued to strengthen across micro-markets led by Central Pune.Read more

27 Oct 2025

Swedish furniture giant Ikea is preparing to make its debut in the Pune market with a lease agreement for over 37,000 sq ft of space at Phoenix Marketcity mall in Lohegaon's Viman Nagar area. The company, which entered India in 2018, has finalised a 59-month lease with Vamona Developers. The store will mark Ikea's expansion into another major urban market. IKEA is currently present in India with 3 large-format stores in Hyderabad, Navi Mumbai, and Bengaluru; two city stores in Worli and West Delhi; one Plan and Order Point in Bengaluru.Read more

24 Oct 2025

Maharashtra's Charity Commissioner, Amogh Kaloti, has intervened to stop the sale of a 12,000-square-meter property in Pune's Model Colony owned by the Seth Hirachand Nemchand Smarak Trust. The property, which includes a Jain boarding facility and Mahavir Digambar Jain Temple, was set to be sold to Gokhale Constructions for INR 311 crore. Opposition from sections of the Jain community led to the intervention, with the Commissioner ordering a 'status quo' and seeking a detailed report. The trust maintains that all legal processes were followed during the sale.Read more

24 Oct 2025

Pune Municipal Corporation suspended two TDR department officials for permitting illegal construction at a Baner property. The sixth-floor slab was complete, and work on the seventh floor had begun without approval, while the proposal for additional TDR was still under review. This step reflects PMC's ongoing efforts to ensure compliance with building rules and prevent misuse of development rights. Earlier, sanitation staff were suspended and other officials transferred. The civic body is actively inspecting properties to detect violations and strengthen regulatory oversight.Read more

15 Sep 2025

The construction of the new Sadhu Vaswani Bridge in Pune's Koregaon Park area has reached around 50% completion, with the completion timeline now extended to March 2026. The delay is mainly due to the challenges of building over active railway tracks and rerouting essential utilities. Since the old bridge's demolition in 2024, commuters have faced long traffic diversions, affecting daily travel. The Pune Municipal Corporation (PMC) is working closely with railway authorities to manage disruptions and ensure the project progresses efficiently, while the new bridge aims to improve connectivity and ease congestion in the area.Read more

12 Sep 2025

Pune Municipal Corporation commissioner Naval Kishore Ram has called for stronger private participation in city development, citing the unsustainable revenue model of its properties. He explained that PMC spends INR 4,000 to maintain facilities but earns only INR 2,000, with auditorium rents set at just INR 1,000 despite daily maintenance costs of INR 2,000. Ram emphasised that hesitation to adopt PPP has left many reserved amenity lands unused or misused. He said private developers could create hospitals, schools, parking, and sports complexes on such sites. He also set a target of 75 km of quality road construction annually, with INR 200 crore recently sanctioned for repairs.Read more

13 Aug 2025

The Pune Municipal Corporation has now made it mandatory to display project names residential or commercial in Marathi. This directive came after a strong push from the Maharashtra Navnirman Sena, which had earlier flagged widespread non-compliance. The municipal commissioner issued a circular enforcing this rule across both ongoing and new projects, aligning with the state's Marathi language policy. Civic officials will be inspecting sites to ensure full compliance. With building approvals having tripled over recent years, this move seeks to balance rapid urban growth with cultural preservation. Builders must now comply or risk delays in project certifications.Read more

07 Aug 2025

Pune's residential property market evolved significantly in H1 2025, with rising demand for premium, spacious homes. The city recorded the highest average ticket size growth among Tier 1 cities, up 7% to INR 0.74 crore. Premium homes made up 45% of market value, while affordable units under INR 1 crore retained a 55% share. With over 45,000 units sold and nearly 39,000 launched, Pune balances aspiration with accessibility. Key growth areas include North West Pune and PCMC. Experts cite the city's lifestyle appeal, strategic location, and upcoming connectivity to Navi Mumbai Airport as driving momentum. Pune's housing story now blends inclusivity with premiumisation.Read more

06 Aug 2025

In a major real estate deal, KRC Queens Pvt Ltd, a subsidiary of K Raheja Corp, has acquired a 7.43-acre land parcel in Mahalunge, Pune, for INR 195 crore. The land, purchased from Mahalunge Real Estate Developers Pvt Ltd, is designated for a new residential township project. This strategic acquisition highlights K Raheja Corp's growing presence in the Pune market and its commitment to developing large-scale residential projects to meet the city's increasing housing demand.Read more

05 Aug 2025

Pune Municipal Corporation has doubled its property-tax discounts for green features over the past six years from about 86,000 beneficiaries in 2019-20 to roughly 1.5 lakh now offering 5-10% relief to owners with functional solar panels and vermicomposting systems. The corporation claims surprise inspections and cancellations if installations go offline, but local activists and experts challenge the enforcement's consistency. While this incentive is part of broader efforts to promote sustainability, questions remain over actual performance and oversight. The scheme coincides with a wider push in Maharashtra municipalities for green-rated buildings through fiscal, not built-area, perks.Read more

25 Jul 2025

IndoSpace has launched 'IndoSpace Chakan V', a 188-acre industrial and logistics park within the MIDC Chakan belt in Pune, with an investment of USD 120 million. This marks the company's largest industrial development in India and its eighth facility in the Pune region, expanding its local footprint to 525 acres. The park is positioned along major highway corridors and offers multimodal connectivity to key industrial hubs. Designed with sustainability features and advanced technology, it targets sectors including automotive, engineering, electronics, and third-party logistics.Read more

24 Jul 2025

Following the Maharashtra cabinet's approval to merge civil areas of Pune and Khadki cantonments with the Pune Municipal Corporation (PMC), debate has sparked over Floor Space Index (FSI) norms for redevelopment. Currently capped at 0.5 in cantonment zones, proposed revisions to 1.0 still fall short of PMC's existing FSI range of 1.1 to 3.0. Residents and developers are urging clarity to ensure fair development post-merger. The process awaits final notification from the Centre and requires coordination among PMC, the Defence Ministry, and other agencies. The merger is part of a nationwide move to integrate cantonment civil areas with municipal bodies to streamline governance.Read more

16 Jul 2025

The Pimpri Chinchwad Municipal Corporation (PCMC) has introduced a dedicated five-member vigilance squad to tackle illegal construction activities and penalise staff negligence. The move follows growing public concern over delayed civic action and continued unauthorised developments. The new squad will probe complaints filed through the Saarthi helpline and those escalated to senior officers, with findings being reported directly to the Municipal Commissioner. This decision comes after demolition of structures such as a 1,200 sq ft illegal building in Rahatani and thousands of unauthorised units in areas like Kudalwadi and the Indrayani riverbed, underscoring the urgency of the issue.Read more