Advertisement
8 minutes ago
ICICI Prudential Asset Management's alternative investment fund has expanded its commercial real estate holdings by acquiring a Grade A IT park in Pune for approximately INR 520 crore. The Aditya Shagun Infinity IT Park in Baner spans around 388,000 sq ft and is leased to prominent companies including Eaton Corporation, Accenture, and Jaguar Land Rover. With an annual rent escalation of 4.7% and nearly nine years of average lease tenure, the acquisition strengthens the fund's strategy of investing in stabilized office assets. The fund has a history of similar acquisitions across Pune and other key cities, targeting steady rental income and asset appreciation.Read more
08 Mar 2026
The Pune Municipal Corporation (PMC) has made it compulsory for large housing societies to install monitoring sensors on sewage treatment plants (STPs) to ensure proper wastewater treatment and prevent untreated sewage from entering the city's drainage network and rivers. The rule applies to residential complexes with more than 100 flats and will cover nearly 750 private STPs across Pune. The sensors will send real-time operational and water quality data to a central civic monitoring system. The step forms part of the civic body's wider effort to control pollution in the Mula Mutha river and strengthen sewage management in the city.Read more
08 Mar 2026
Pune Municipal Corporation (PMC) has instructed nearly 750 housing societies with over 100 flats to install sensors on their sewage treatment plants (STPs). The sensors will provide real-time data to a central PMC unit, ensuring STPs operate efficiently and preventing untreated wastewater discharge. The move complements previous regulations requiring local sewage treatment and builds on technology used in the Mula Mutha River Pollution Abatement Project. PMC also plans air quality monitoring at construction sites, upgrades to six existing STPs, and development of 11 new plants under AMRUT funding, increasing capacity to 1,000 MLD.Read more
07 Mar 2026
The Pune Municipal Corporation (PMC) carried out a large demolition drive in Pune, removing about 78,000 sq ft of illegal constructions across the Lohegaon and Nagar Road areas. The action targeted 18 unauthorised structures, including residential units, commercial establishments and extensions built without civic approval. Officials said notices had previously been issued under the Maharashtra Regional and Town Planning Act, 1966 asking property owners to remove the violations. As the structures were not removed within the given time, PMC teams carried out demolition under development control regulations as part of the civic body's continuing action against illegal construction in the city.Read more
07 Mar 2026
The Pune Municipal Corporation (PMC) has finalised 34 locations across the city where parking facilities can be developed near Pune Metro stations to improve commuter access and last-mile connectivity. Most of these sites are within around 500 metres of Metro stations and fall under amenity spaces that can be used for organised parking. Civic officials have assessed the sites and found 31 suitable for development. Work has already started at four locations. The initiative aims to support Metro users who travel to stations using private vehicles and to strengthen the city's public transport network.Read more
06 Mar 2026
Prime Offices Fund (PRIME), managed by Nuvama Asset Management and Cushman & Wakefield Management, has acquired a 51% stake in a 1.1 million sq ft Grade A+ office development in Pune's Kharadi micro-market. The remaining 49% continues to be held by Singapore-based Keppel. The deal value is estimated at around INR 1,000 crore. With this transaction, PRIME's total portfolio has expanded to nearly 3.8 million sq ft across Delhi NCR, Chennai and now Pune, marking its entry into a key technology-driven office market.Read more
03 Mar 2026
Kolkata-based Merlin Group has acquired a 3.26-acre land parcel in Mundhwa, near Koregaon Park in Pune, for INR 273 crore, according to property registration documents. The transaction was registered in the past week, with stamp duty of INR 19.11 crore paid. The acquisition has been executed through the group's subsidiary, Merlin Prime Spaces. The developer plans to invest over INR 1,000 crore, including land cost, to build a commercial office project targeting BFSI occupiers and global capability centres. The project is expected to be completed by 2030 and could command a valuation of around INR 3,000 crore upon full occupation. The deal adds to Merlin Group's growing Pune portfolio, where it has been active since 2021 across commercial, mixed-use and premium residential segments, amid rising developer interest in the Mundhwa Koregaon Park corridor.Read more
02 Mar 2026
Shapoorji Pallonji Real Estate has announced the launch of The Vastion, a low-density luxury residential enclave at Hadapsar Annexe in Pune, comprising 25 residences across 13 villas and 12 villaments. Positioned within a mature mango orchard, the project has been planned with a strong focus on biophilic design, privacy and spatial openness. The development features 4.5 BHK villas with 5,628 sq ft of usable space and 4 BHK villaments ranging between 3,463 sq ft and 3,812 sq ft, offering configurations with private gardens or terraces. Prices start from INR 4.70 crore for villaments and INR 6.61 crore for villas. Located close to Hadapsar and key IT and commercial hubs, the project is aligned with Pune's evolving luxury housing demand.Read more
24 Feb 2026
A comprehensive survey of government-leased land across Pune district has identified 355 instances of lease violations, with the highest number recorded in Pune city and Haveli taluka. A district administration review of 2,161 leased parcels found breaches that include non-renewal of leases, unauthorised land uses, over-occupation beyond leased boundaries, illegal construction activity, sub-letting for rental income and failure to use land for specified purposes within stipulated timelines. Notices have been issued to the concerned lessees, with authorities reviewing responses ahead of possible enforcement or regularisation measures. Depending on the nature of each violation, actions may include regularisation subject to penalties, resumption of land by the government or other legal steps. The exercise follows irregularities uncovered in high-profile cases involving alleged manipulation of lease records and unauthorised sale of leased government land, prompting heightened scrutiny of lease compliance across all talukas in the district.Read more
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
Advertisement
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
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
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
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
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
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
Advertisement
