14 May 2025

Hiranandani Communities, Krisala Developers, and Della Resorts and Adventure have partnered to develop a racecourse-themed township near Pune, with a budget of INR 550 crore. This 40-acre development will have a revenue potential of INR 1,100 crore. Della's Chairman, Jimmy Mistry, mentioned that this type of themed project increases builder receivables by 40%. The project will include a resort, conference and wedding venues, villas, and an 8-acre racecourse. Della aims to launch 10 such themed townships by FY26, targeting a revenue potential of INR 20,000 crore.Read more

07 May 2025

The Pimpri Chinchwad Municipal Corporation (PCMC) has issued final notices to 184 housing societies for failing to operate mandatory sewage treatment plants (STPs), as required under the Unified Development Control and Promotion Regulations (UDCPR) for large residential projects. Out of 456 eligible societies, 192 have non-functional or inactive STPs. The civic body has warned of water supply disconnections if compliance is not ensured. While PCMC urges sustainable water reuse, residents allege that faulty STPs were installed by builders and approved without proper checks. The issue has reignited debates over accountability in urban infrastructure and housing project clearances.Read more

06 May 2025

The Maharashtra government has approved the permanent transfer of 28 land parcels from PMC and PCMC to Maha Metro, granting it full ownership to develop commercial projects and boost non-ticket revenue for the Pune Metro. While the move supports metro expansion and financial sustainability, the PCMC has raised objections, demanding compensation as per rent policy norms for the 4,886 sq m of land transferred, including 15 sites linked to the Nigdi extension. The land-use decision is critical to the metro's financial model, but municipal pushback may impact implementation timelines if not resolved amicably.Read more

06 May 2025

Effective from May 1, 2025, Pune residents can register property documents at any sub-registrar office within the district, regardless of the property's location. This intra-district flexibility is part of Maharashtra's 'One State, One Registration' initiative, which aims to ease congestion, reduce delays, and enhance public convenience. The reform, led by the Department of Registration and Stamps, supports the broader digitization of property services in the state. The government also plans to enable inter-district registration soon, pending technical integration. The initiative marks a key step in modernizing property transactions and improving citizen access across both urban and rural areas.Read more

28 Apr 2025

Indospace has leased 1.27 lakh square-feet of warehousing space to Steelcase Asia Pacific Holdings at its industrial park in Pune. The lease, which began on January 29, is for a five-year term at a monthly-rent of INR 46.42 lakh, calculated at INR 36.37 per square-foot. The agreement includes two units, with Steelcase providing a six-month security deposit of INR 2.78 crore. According to the lease terms, the rent will increase by 5% annually. This transaction highlights continued demand for premium warehousing in key industrial hubs like Pune, reinforcing Indospace's position in India's logistics real estate sector.Read more

25 Apr 2025

Pune's real estate sector experienced unprecedented growth in March 2025, with property registrations reaching 24,430 units, a 10% increase from the previous year. Stamp duty collections soared to inr 924 crore, marking a 12.4% rise. This surge is attributed to stable economic conditions, infrastructure development, and robust homebuyer sentiment. Central Pune dominated residential transactions, accounting for 76% of the market share. The demand for larger apartments also saw a significant uptick, reflecting evolving buyer preferences.Read more

25 Apr 2025

The Pune Municipal Corporation (PMC) has launched an amnesty scheme to regularize an estimated 200,000 illegal water connections by charging a penalty of INR 4,000. However, only 130 property owners have responded so far. Unlike a 2021 scheme, this initiative includes unauthorized settlements, aiming for broader reach. Despite this, enforcement remains weak due to political resistance and repeated reconnections after disconnections. Legal residents are frustrated by continued water issues while illegal users face little consequence. To strengthen enforcement, ward-level teams have removed 835 illegal connections. The low response highlights the need for stronger policies to ensure fair and efficient water distribution in Pune.Read more

24 Apr 2025

The Pune Cantonment Board has proposed increasing the Floor Space Index (FSI) from 1.0 to 2.0 for civil areas under its jurisdiction, aiming to modernize outdated norms and support redevelopment. If approved by the Directorate General of Defence Estates, the change will impact over 2,500 properties across six wards. The move addresses long-pending resident demands for flexible construction rules to accommodate growing families. It also serves as a fallback in case the proposed merger with PMC doesn't go through. The PCB consulted COEP Tech to draft the byelaws, aligning with the Defence Ministry's push to update cantonment regulations nationwide.Read more

18 Apr 2025

The much-awaited Pune Metro line between Hinjewadi and Shivajinagar will not begin operations in 2024 as earlier expected. The Pune Metropolitan Region Development Authority (PMRDA) confirmed that only 85% of the project is complete and trial runs may begin by December, pushing the passenger launch to 2026. Developed under a public-private partnership, the line is seen as a major boost for tech professionals commuting between the IT hub and city centre.Read more

18 Apr 2025

Once a booming auto manufacturing hub, Chakan is now grappling with serious infrastructure issues that threaten its industrial future. The Federation of Chakan Industries has raised concerns over deteriorating roads, unreliable power, poor waste management, and lack of healthcare, all of which hinder productivity and deter residential growth. Employees are forced to live in distant cities, worsening traffic and urban strain. While authorities have proposed improvements-including a health center, waste processing units, better road links, and enhanced security-industry leaders remain skeptical due to repeated delays.Read more

11 Apr 2025

Priyanka Chopra's mother, Madhu Chopra, and brother, Siddharth Chopra, have leased their 4,800 sq ft property in Pune's Koregaon Park for INR 2.25 lakh per month. The five-year lease includes a 5% annual rent escalation, starting at INR 2.25 lakh and reaching INR 2.73 lakh by the fifth year, totaling an expected rental income of INR 1.49 crore. Purchased in August 2017 for INR 5.6 crore, the property's rental yield is projected to increase from 4.8% in the first year to 5.86% by the fifth year.Read more

20 Mar 2025

In a bold move to enhance property tax recovery, the Pune Municipal Corporation (PMC) has deployed an all-woman task force, the Damini Squad. The newly-formed squads have already collected over INR 1 crore within just a few days. With property tax dues amounting to nearly INR 10,000 crore, PMC aims to recover a significant portion this financial year, including outstanding amounts from properties and mobile towers.Read more

14 Mar 2025

The Pune Municipal Corporation (PMC) has unveiled a INR 12,618.09 crore budget for 2025-26, marking a INR 1,017 crore increase from the previous year. For the first time, revenue from building permissions (INR 2,899 crore) is projected to surpass property tax (INR 2,847 crore), driven by redevelopment projects and high-rise FSI expansions. Key allocations include INR 1,500 crore each for roads, water supply, sewage treatment, and merged areas. PMC's partnership with PMRDA will add INR 600 crore to revenues, while intelligent work management systems will expedite approvals. Property tax uncertainties in merged areas remain, but PMC is exploring new revenue sources to sustain growth.Read more

14 Mar 2025

Maharashtra Metro Rail Corporation (Maha Metro) is implementing an AI-powered Video Analytics System to prevent unauthorised access to Metro tracks following security breaches, protests, and suicide incidents. Pune Metro, serving 1.6 lakh passengers daily, has faced rising trespassing and safety concerns. The AI system, equipped with motion sensors and real-time surveillance, will detect unauthorised entries, suspicious behaviour, and unattended objects, enabling swift security responses. It will also help optimise train schedules by identifying peak travel hours. Officials believe this technology will enhance passenger safety, streamline security, and improve overall Metro operations in Pune.Read more

13 Mar 2025

Pune's residential real estate market continued its strong growth in 2025, driven by affordability, infrastructure development, and a thriving job market. In 2024, home prices rose 11% YoY to INR 6,590 per sq. ft., with 90,127 units sold. The demand for luxury housing (INR 3-4 crore+) surged, fueled by Pune's technology, finance, and manufacturing sectors. Luxury sales more than doubled to 825 units, but new supply lagged at 295 units. Premium housing is expanding beyond Koregaon Park and Baner to NIBM Road and Hinjewadi, boosted by Pune Metro and Ring Road developments.Read more

12 Mar 2025

The Pune Cantonment Board (PCB) is drafting new building bylaws for its civil and bungalow areas, following directives from the Directorate General of Defence Estates (DGDE). Similar efforts are underway in Khadki and Dehu Road cantonments. Currently, civil pockets have an FSI of 1, and bungalow areas have 0.5, with residents advocating for higher limits. Despite a 2015 Ministry of Defence (MoD) directive for bylaw updates, approvals are still pending. A proposed merger with municipal corporations could shift building control away from the military, making it a sensitive issue. The final decision rests with the state government and MoD.Read more