10 Mar 2025

A CoEPTU report has confirmed that all 4,883 PMAY flats in Sector 12, Pimpri Chinchwad are structurally stable, but leakage issues, especially in toilets, require urgent repairs. The Pune Metropolitan Region Development Authority (PMRDA) has directed the developer to complete repairs within a month. Following resident protests, PMRDA conducted an inspection, revealing 85% of repairs are completed. Similar quality concerns have arisen in other PMAY projects across India, highlighting the need for better construction oversight. The Pimpri Chinchwad case underscores the importance of monitoring and enforcing quality standards in affordable housing projects nationwide.Read more

07 Mar 2025

Tata Katcon Exhaust Systems has leased 77,800 sq ft of industrial space in Chakan, Pune, from Malpani Group for 10 years, starting this month. This follows Tata Toyo Radiator's similar lease last year. The rental is INR 29 per sq ft, with a five-year lock-in. Malpani Group is expanding its industrial park footprint, adding 3 million sq ft in Chakan. India's industrial park demand is rising due to industrial growth, government incentives like Make in India and PLI schemes, and infrastructure improvements under PM Gati Shakti, boosting demand for well-connected industrial spaces.Read more

Harish Fabiani, Chairman of Indialand

07 Mar 2025

Pune, traditionally known as the Oxford of the East, is rapidly evolving into a major IT and real estate destination. Over the past decade, industrial growth and startup culture have fuelled this transformation, supported by favourable government policies such as MahaRERA and the Make in India initiative. The influx of foreign direct investment (FDI) has further strengthened Pune's position, with recent major investments from Microsoft and Inteva Products. This IT expansion has triggered a real estate boom, particularly in commercial and luxury housing. Meanwhile, infrastructure projects, including Pune Metro and the Ring Road, are enhancing connectivity and urban living, making Pune an attractive destination for businesses, investors, and professionals.Read more

06 Mar 2025

Hrithik Roshan has extended the rental agreement for a 9,209 sq. ft. commercial office space located in Pune's World Trade Centre, EON Kharadi. As per property registration documents accessed by CRE Matrix, the renewed lease entails a monthly rent of INR 6.08 lakh, with a security deposit of INR 11.67 lakh. The lease has been assigned to Regus Ruby Business Centre Pvt Ltd, with a tenure of 36 months starting from late September 2024. The agreement includes a 5% annual rent escalation clause. A stamp duty of INR 58,500 and a registration fee of INR 1,000 were paid for the registration. The office, situated on the eighth floor, also provides parking for nine four-wheelers and 18 two-wheelers.Read more

06 Mar 2025

The Pune Metropolitan Region Development Authority (PMRDA) Metro Line 3, which connects Hinjewadi and Shivajinagar, is now slated to begin operations by the end of the year. The project was scheduled to be finished in 2023, but difficulties with land acquisition, traffic, and the COVID-19 epidemic caused several delays. The integrated flyover at University Chowk and the purchase of land at Raj Bhavan are two important elements that remain unfinished despite 85% of the construction being finished. Trial runs are scheduled to start in October or November after construction is finished.Read more

03 Mar 2025

Pune's real estate market saw an 8% YoY decline in property registrations, with 16,330 transactions in January 2025, down from 17,786 a year earlier. Despite the drop, stamp duty revenue remained stable at INR 590 crore, indicating higher-value property sales. Demand for homes priced above INR 1 crore rose from 13% to 15%, with larger apartments (800+ sq ft) also gaining traction. Central Pune led transactions with 81% market share, while West Pune saw rising demand. Experts anticipate market stability, driven by strong employment opportunities and potential home loan rate cuts, sustaining growth in Pune's premium housing segment.Read more

28 Feb 2025

Godrej Properties (GPL) has clocked sales of INR 1,000 crore from its recently launched residential project, Godrej Evergreen Square, in Pune. The firm sold more than 1,398 apartments over 1.23 million square feet, which is the most successful project launch in the city for GPL both in value and volume. The Hinjewadi project was launched in November 2024, only four months after the acquisition of land. With a developable area of 2.41 million square feet, the project is expected to yield INR 2,045 crore in revenue. Pune has been one of GPL's core markets, and it has contributed heavily to its record pre-sales of INR 12,929 crore in FY23. The good reaction to this launch reflects increased housing need in Hinjewadi, a key IT destination. In spite of such successes, shares in Godrej Properties closed 2.23% down at INR 1,986.20 on the BSE earlier this week.Read more

27 Feb 2025

Gramercy Info Park Pvt Ltd, a subsidiary of Pune-based Panchshil Realty, has acquired two industrial land parcels in Navi Mumbai's Ghansoli area for INR 615 crore, according to Propstack.com. The first parcel, spanning 73,600 sq m in the TTC Industrial Area, was purchased for INR 235.34 crore, while the second, covering 1.18 lakh sq m, was acquired for INR 379.65 crore. Panchshil Realty, known for luxury developments, has previously partnered with the Trump Organization for Trump Towers in Pune. The TTC Industrial Area has experienced a 9.05% rise in property values over the past year. This acquisition highlights the increasing demand for industrial and commercial spaces in Navi Mumbai and strengthens Panchshil Realty's presence in the Mumbai Metropolitan Region.Read more

27 Feb 2025

MagicLoans reported a sharp rise in demand for high-value home loans in Q4 2024, with the INR 50 lakh - INR 1 crore segment accounting for 36% of total disbursals. Pune led with a 30.6% share, followed by Hyderabad (22.6%), Bengaluru (17.3%), and Gurugram (14.2%), which recorded the highest average loan size. The surge is driven by the RBI's recent rate cut, rising property prices, and government-backed initiatives like the SWAMIH Fund. With home loan disbursals doubling since early 2024, India's housing market is set for continued expansion, driven by increasing affordability and demand for premium properties.Read more

26 Feb 2025

Pune's real estate market, particularly in Pimpri-Chinchwad, is witnessing strong investment activity, with developers expanding into high-growth suburbs. UC Punawale Skyscrapers LLP recently acquired a land parcel in Punawale for INR 129 crore, reflecting confidence in the region's residential demand. Areas like Punawale, Ravet, and Tathawade are experiencing rising property values due to affordability, connectivity, and proximity to commercial hubs. Key transactions in Ravet and Tathawade reinforce their potential, while Mahalunge and Baner are emerging as premium destinations. With continued developer interest and infrastructure expansion, Pune's suburban real estate market is poised for sustained growth.Read more

26 Feb 2025

The Pimpri Chinchwad Municipal Corporation (PCMC) has proposed a INR 9,675.27 crore budget for 2025-26, focusing on infrastructure, green development, and social welfare while keeping property tax unchanged. Key projects include DP road construction, water supply improvements, and Indrayani river revitalization. A drone survey added 2.5 lakh properties to the tax net, with QR-coded property records planned. INR 200 crore green bonds will fund non-motorized transport and eco-friendly projects. Investments in sanitation, health, education, and fire safety are also prioritized. With INR 1,000 crore more than last year's budget, PCMC aims for sustainable urban growth and improved public services.Read more

24 Feb 2025

Godrej Properties Ltd., in collaboration with Tvasta Engineering, has launched India's first-ever 3D-printed G+1 villa at Godrej Eden Estate, Pune, marking a transformative breakthrough in construction. Completed in just four months using additive manufacturing, the project demonstrates the efficiency, precision, and sustainability of 3D printing in India. This innovative initiative sets new benchmarks in real estate investments in India by reducing construction time, material waste, and costs. By leveraging computer-modeled designs and eco-friendly materials, the villa paves the way for smarter, greener urban developments, positioning India alongside global leaders in revolutionary building technologies.Read more

24 Feb 2025

Recent developments in Pune real estate news highlight a robust market as Mumbai-based Hiranandani Group signs a joint development agreement with Pune-based Krisala Developers for a 105-acre project in North Hinjewadi. The integrated township will feature residential, commercial, and retail segments, with an investment of INR 2,000 crore and expected revenue of INR 7,000 crore. Both companies hold equal stakes while RERA approvals are underway, boosting investor confidence. In addition, Phase 1 covers 30 acres with INR 500 crore investment. In related Mumbai real estate news, Mahindra Lifespace's redevelopment initiative further underscores the region's dynamic real estate momentum, driving change.Read more

21 Feb 2025

Pune-based developer Solitaire Group has acquired nearly 10 acres of land in Wagholi for over INR 129 crore through its entity, Westcon Spaces Pvt Ltd. The acquisition, completed in four transactions on February 6, includes a 5-acre plot for INR 50 crore and a 4-acre parcel for INR 40 crore, with additional smaller purchases. While the company has not disclosed development plans, Wagholi's rising demand, proximity to IT hubs, and infrastructure growth suggest potential residential projects. Pune's real estate market remains strong, with developers actively securing land, mirroring trends in cities like Mumbai and Bengaluru.Read more

17 Feb 2025

The Pimpri Chinchwad Municipal Corporation (PCMC) has demolished 2,137 illegal scrap godowns and industrial units across 372 acres in Kudalwadi, Chikhali, with 806 structures removed in a single day. The action follows safety violations, including the absence of fire clearances, labor law breaches, and environmental violations. This crackdown intensified after a fire in Talawde killed 14 people. The PCMC plans further demolitions in areas like Walhekarwadi and Kalewadi. With migrant workers displaced, officials are exploring NGO partnerships for relief efforts while continuing to enforce safety regulations against illegal industrial operations.Read more

11 Feb 2025

The municipal corporations of Pune and Pimpri Chinchwad have proposed to keep property taxes unchanged for the financial year 2025-26, bringing some relief to residents. While the proposal has already been approved by the Pimpri Chinchwad Municipal Corporation (PCMC), the Pune Municipal Corporation (PMC) is yet to give its approval. Both cities have been governed by municipal commissioners in the absence of elected representatives due to delayed elections. Despite the proposal, concerns about the quality of services remain among citizens.Read more

10 Feb 2025

The Pune and Pimpri Chinchwad metro network will expand with a budget allocation of INR 838.96 crore for FY 2025-26. Maha Metro will prioritize the PCMC-Nigdi and Swargate-Katraj extensions, ensuring financial stability for ongoing projects. While Phase 1 is operational, pending infrastructure work at Khadki and Range Hills stations continues. Metro ridership reached 160,000 daily commuters in January. Additionally, INR 230 crore has been allocated for Mula-Mutha river pollution abatement, with funds supporting Sewage Treatment Plants (STPs). These initiatives will enhance urban transit, last-mile connectivity, and sustainability, ensuring Pune's continued infrastructural growth.Read more

07 Feb 2025

The Mumbai-Pune "missing link" project, expected to complete by August 2025, is aimed at improving the Mumbai-Pune Expressway by reducing the distance between the two cities and cutting travel time by 30 minutes. The project, costing INR 6,600 crore, has faced multiple delays due to engineering challenges and the difficult terrain. Key components like tunnels and viaducts are in place, with ongoing work on the second viaduct. The project is designed to enhance safety and reduce accidents, particularly in the hazardous ghat section, while also addressing seasonal disruptions caused by falling debris.Read more

06 Feb 2025

The Pune Municipal Corporation (PMC) has initiated an auction of 46 properties to recover INR 11 crore in unpaid property taxes. Despite announcing a similar auction last year for 50 properties, only two were sold as most defaulters settled their dues at the last moment. The PMC has already seized properties where no legal disputes exist and has begun the auctioning process. PMC follows a structured approach, sealing properties and imposing a penalty of 2% per month on unpaid taxes. Successful bidders must pay an initial 20% of the bid amount within two days and the remainder within 15 days, though owners can reclaim their properties if dues and auction expenses are cleared within the same period.Read more