Housing Edge

19/01/2024

Pune Metro Under Construction Lines (Phase 1 to Line-3)

Line-1 (Purple Line): Pimpri Chinchwad Municipal Corporation (PCMC) – Swargate

Number of Stations: 14

Station Names: PCMC, Tukaram Nagar, Bhosari, Kasarwadi, Fugewadi, Dapodi, Bopodi, Khadki, Range Hill, Shivaji Nagar, Civil Court, Budhwar Peth, Mandai, Swargate

Line-2 (Aqua Line): Vanaz – Ramwadi

Number of Stations: 16

Station Names: Vanaz, Anand Nagar, Ideal Colony, Nal Stop, Garware College, Deccan Gymkhana, Sambhaji Park, PMC, Civil Court, Mangalwar Peth, Pune Railway Station, Ruby Clinic, Bund Garden, Yerawada, Kalyani Nagar, Ramwadi

Line-3: Hinjawadi – Civil Court

Number of Stations: 23

Station Names: Megapolis Circle, Embassy Quadron Business Park, Dohler, Infosys Phase II, Wipro Phase II, Pall India, Shivaji Chowk, Hinjewadi, Wakad Chowk, Balewadi Stadium, NICMAR, Ram Nagar, Laxmi Nagar, Balewadi Phata, Baner Gaon, Baner, Krushi Anusadhan, Sakal Nagar, University, R.B.I., Agriculture College, Shivaji Nagar and Civil Court.

Type: Public-Private Partnership (PPP)

Owner: Pune Metropolitan Region Development Authority (PMRDA)

Note: Official color not yet assigned; shown in red in maps below.

Pune Metro Approved Lines (Phase 1 Extension)

Line-1 (Purple Line): Pimpri Chinchwad Municipal Corporation (PCMC) – Nigdi

Number of Stations: 4

Station Names: Chinchwad, Akurdi, Nigdi, Bhakti Shakti

Pune Metro Proposed Lines (Phase 1 Extension + Phase 2)

Line-1 Extension (Purple Line): Swargate – Katraj

Line-2 Extension (Aqua Line): Vanaz – Chandni Chowk

Length: 1.5 km

Stations: 2

See in-depth information within Phase 2’s page

Line-2 Extension (Aqua Line): Ramwadi – Wagholi

Line-4: Civil Court – Loni Kalbhor (Kadam Wakwasti)

Note: This line may function as an extension of Line-3 (Hinjawadi – Civil Court). Its detailed project report (DPR) for prepared by the Delhi Metro Rail Corporation. Spurs are planned to be built to Saswad and Swargate

Line-5: Khadakwasla – Kharadi

Length: 25.65 km

Type: Public-Private Partnership (PPP)

Owner: Pune Metropolitan Region Development Authority (PMRDA)

Line-5’s Spur Line: SNDT – Warje – Manik Baug

Length: 8 km

See in-depth information within Phase 2’s page

High Capacity Mass Transit Route (HCMTR or Ring Line): Ambedkar Chowk – Siddhi Garden – Lulla Nagar – Viman Nagar- Deccan College – Kirloskar

Length: 36 km

See in-depth information within Phase 2’s page

Pune Metro Route Map (Phase 1 & Line-3)

The embedded map below shows the location of all stations for Phase 1 (exact) and Line-3 (tentative), and can be zoomed into!

https://goo.gl/maps/zjME52wE6vqt3her5

08/12/2022

BENEFITS OF MahaRERA

1. HIGH LEVEL OF TRANSPARENCY: Before RERA Act, there was a lack of transparency in the real estate sector; buyers were left to the mercy of developers to obtain possession of property they purchased, promoters and developers could publish non-factual advertisements, etc. However, with the introduction of RERA, the consumer is provided all the information related to the project he has purchased his property in, the developer has to mandatorily adhere to registration of the project with RERA, report on its progress, intimate about delays, if any, is penalized for the same, etc. Additionally, buyers have the right to question each step involved in both development and promotion.

2. ADHERENCE TO LAW AND ORDER: Now that MahaRERA has come into force, there is no scope for developers to funnel funds collected from investors and redirect them to some other projects. Down payment has been fixed at 10%. 7Non-compliance to RERA provisions attracts penal action of imprisonment up to 3 years as well as financial penalty.8

3. ACCOUNTABILITY: It is mandatory for Developers to deposit 70% of all funds paid towards a particular project into a single account. These funds are to be used only for construction or cost of land. Developers must also report progress periodically on the project to the regulatory authorities.9

4. INCREASED TRUST: Perhaps the greatest benefit that customers have is the reinforced trust in the real estate sector. This has led to reinvigoration of the sector and greater confidence among property buyers.

MahaRERA has come as a blessing to real estate customers in Maharashtra, who can now buy the home of their dreams with confidence.

27/11/2022

Maharashtra to launch its own housing scheme for homeless people

The state government will launch its own housing scheme for those left out of the Pradhan Mantri Awaas Yojana (PMAY) and Awaas plus yojana, announced deputy CM Devendra Fadnavis.

26/11/2022

Maharashtra to build Pune-Nashik Expressway with eyes on better connectivity, job growth

The 180 kms expressway will provide better connectivity of Mumbai, Pune and Nashik golden triangle.
In a move that would serve as a fast connectivity net between two important cities in the state, the In a move that would serve as a fast connectivity net between two important cities in the state, the Maharashtra government is set to build an expressway project between Pune and Nashik.

To be developed by Maharashtra State Road Development Corporation (MSRDC) the 180-km Pune-Nashik expressway will be built on the lines of pune Mumbai, Indian Express reported.  The new expressway will also create more jobs and give a boost to Maharashtra’s economy.

20/11/2022

https://realty.economictimes.indiatimes.com/news/industry/soon-maharera-valuers-to-check-progress-of-projects/95440815

10/11/2022

https://realty.economictimes.indiatimes.com/news/industry/hdfc-capital-advisors-invests-over-rs-1550-crore-in-six-projects-of-sp-real-estate/95390974

The investment made through structured debt instruments will flow into six projects spread over nearly 7 million square feet in Mumbai and Pune. It will be utilised for financial closure of projects, repayment of high-cost debt, and working capital, the companies said.

12/10/2022

Maharashtra government focuses on e-registration of properties.

The property registration department has in the run-up to Diwali reached out to more developers across the state to commence e-registration of first-sale units from their offices.

07/09/2022

https://etrealty.com/s/q9yry0v

Of the total six, the work on the Mann Mhalunge town planning scheme has already commenced, said officials.

09/08/2022

New Pune airport to be constructed at Purandar tehsil.

The proposed new Pune airport will be constructed at Purandar tehsil. This is the same site that was identified by the then chief minister Devendra Fadnavis government and approved by the Ministry of Defense and Civic Aviation, mentioned chief minister Eknath Shinde as per a HT report.

The original site at Purandar tehsil is located through six villages including Munjwadi, Khanavadi, Kumbharwalan, Pargaon and Wanpuri. The permission taken by the earlier government for a site near Baramati Taluka has been revoked and development will start now at Purandar tehsil. According to reports, the old plan had the landing facility at Purandar and the terminals at Baramati Taluka.

24/05/2020

Realty News -

Government extends PMAY housing loan subsidy for Middle Income Group until March 2021

The government has extended credit linked subsidy scheme (CLSS) for Middle Income Group (MIG) under the Pradhan Mantri Awas Yojna (PMAY) by one more year until March 2021 in a bid to boost demand for real estate and construction activity.

Separately, finance minister Nirmala Sitharaman also announced the plan to launch affordable rental housing scheme for migrant workers or urban poor under the PMAY.

The decision to extend the scheme by a year is estimated to result in investment worth Rs 70,000 crore in the housing sector, the minister said while detailing the second tranche of Rs 20 lakh crore stimulus package.

Under the scheme, middle income homebuyers with annual income of Rs 6-18 lakhs can avail the benefit of subsidised interest on their home loans. The scheme is aimed at achieving government’s objective of housing for all.

“The extension of CLSS for Middle Income Group is an action oriented reform for the revival of affordable housing segment ensuring job creation, and stimulus to demand and boosting the supply chain,” said Jaxay Shah, Chairman, CREDAI National.

The government had introduced CLSS in June 2015 for home loans to customers from the economically weaker section (EWS), Low Income Group (LIG), and was extended to the MIG since January 2017.

24/05/2020

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23/05/2020

Realty News - 1% Concession on Stamp Duty.

The one per cent concession in stamp duty announced in the Maharashtra budget will start from April 1.

The concession is applicable to Mumbai Metropolitan Region, Pune, Nagpur and Pimpri Chinchwad for a period of two years, they said.

"The one per cent concession on stamp duty will be on registration of documents pertaining to sale and lease of immovable property, gift deeds etc," an official informed.