Latest Property News on 'Pune'

Domina Plans Three Vedic Sub-Brands

Real estate firm Shristi Infrastructure, which had set up a joint venture hotel management company, Domina India, with Milan-based Domina Hotel Group last year, all set to introduce three sub-brands under the umbrella Vedic label in India.

About Rs 2,400 crore will be invested over five years to set up about 35-50 properties. These will be the two-star Vedic Inn, a mid-scale Vedic Domina and five-to-seven star resorts — Vedic Resorts and Palaces. The partners will have equal share in the investment. Read More »

PIL Against State over Pune Land Mafia

A city-based advocate has filed a public interest litigation (PIL) against the state government for failing to curb illegal land dealing and proliferation of land mafia in Pune.

Dinesh Gonjare has filed the PIL in the Bombay high court saying that land mafia in Pune are holding all to ransom. They are not only responsible for unprecedented hike in the real estate prices, but also for the inflationary situation citizens are trapped in. Read More »

Rs 1400 cr Township Planned in Pune

Pune-based real estate companies, the Avinash Bhosale group and Kumar Properties, have joined hands to set up a Rs 1,400-crore township in the third phase of Rajiv Gandhi Infotech Park in Hinjewadi here. The project - Megapolis - comprises 5,800 flats, studio apartments and an IT special economic zone.

Pegasus Properties, a 50:50 joint venture floated by the two firms, would develop the project over the next five years. Spread over 150 acres, the township will have all 21-storied buildings. Read More »

Residential Property Prices to go up in Pune

Pune-based real estate developers have decided to increase the per-square-foot charge for residential construction between Rs 50 and Rs 400 from April 20 due to the increasing cost of construction and heavy taxation by Pune Municipal Corporation (PMC). This was announced today by Lalitkumar Jain, president, Promoters and Builders Association of Pune (PBAP).

Pune, over the last two years, has experienced a boom in the real estate industry. However, availability of land has remained a problem as the new Development Plan (DP) for Pune has not been sanctioned and executed for quite some time. Read More »

Pune registers record Revenue Collection from Property Registration

Despite the slowdown in the growth of real estate sector, the Pune district registered a record collection of Rs 1,392 crore from registrations and stamp paper duty of property agreements for 2007-08. This is an increase of 30.22 per cent, as against Rs 1,069 crore in 2006-07. However, the registration of properties was 2,97,785 in 2007-08 as against 2,82,068 in 2006-07, which is an increase of mere 5. 57 per cent as against 16.15 per cent the previous year.

The increase in revenue collection of 30.22 per cent against 16.15 per cent document registration is being attributed to the steep increase in the property price list of Ready Reckoner by the state government. The property list has a 30-40 per cent rise in price rates for all areas except the slum and gaothan areas where only a 10 per cent rise has been recorded from January 1. Read More »

Pune Realty goes in for a correction

Ostensibly, all seems hunky-dory and that’s exactly what the city builders in Pune keep saying. But scratch the surface, follow the trail to its origin, piece together seemingly not-so-related issues and the big picture begins to emerge, one that tells a different story.

To go back to where it all began, the US sub-prime home loan rates issue has already negatively impacted most exporters, especially the IT companies. Just as the realty boom, to a large extent, was powered by the IT sector, a slowdown there, it can be logically concluded, will also have a negative effect on the domestic real estate. In fact it already has. Read More »

Builders join Hands, Float National Association

In the first week of March, seven city real estate associations signed bilateral agreements with the newly formed National Association of Realtors - India (NAR- India), which in turn has forged an alliance with National Association of realtors, USA to give itself an international appeal.

NAR-India has also kick-started the process of training estate agents for transnational referrals. While Bangalore hosted the first workshop, come June Pune - which is the largest contingent in NAR-India at 193 members - will host a similar workshop and the next year’s national conference as well. Currently, Pune estate agent Kishen Milaney is the secretary of NAR-India. Read More »

Property Show in Pune on the March 15, 16

Pune is witnessing tremendous growth in real estate sector, both in commercial and residential space. With an objective to showcase the finest properties of Pune, a leading online real estate company is organizing a two-day property show, for the first time on March 15 and 16 at Royal Western India Turf Club, Solapur Road, Pune. Around 20 leading real estate developers will be participating in the show and over 5000 property seekers are expected to visit this mega property show in two days. The Pune property show is expected to do deals worth 18 crores.

Pune is amongst the fastest growing cities in India and is experiencing a rapid need for increase in infrastructure. The city has seen rapid increase in real estate activities over the last couple of years. The city accounts 12% of all the traffic coming on the portal, with more than 10000 listed properties from the city. Read More »

European real estate giant enters India

India & China are perhaps the major real estate markets in the world now. As a concept, “branded homes” is fairly unknown in India. Yoo by Strack finds India as an attractive country to design and develop real estate projects. Real estate development company ‘Yoo by Starck’ has entered India.

The first project named ‘Yoo in Pune’ is being developed by Panchshil Realty over 21 acres of land. The first phase of this project will have six 30-storie-towers. Read More »

Industrial Units in Pune Explore Real Estate Prospects

Pune will soon get a major face lift with re-development of its industrial townships Pimpri and Chinchwad into exclusive residential area for young professionals.

Few years back, Pimpri-Chinchwad and the areas in vicinity constituted industrial hub of Pune. Its makeover is being helped by the development of bigger industrial location at Talegon-Chakan, further up the road towards Mumbai, where large manufacturing units have already come up or are under the development phase.

The makeover of every place is an immediate outcome of the changing economics and market dynamics. For example, the credit of successful change in Central Mumbai goes to the textile mills. Read More »