Pune News Desk

27 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

1 hour ago

CRE Matrix said office rentals in Navi Mumbai are about 21% lower than the average rentals in major Tier-1 cities, making the market increasingly attractive for multinational companies and global capability centres (GCCs). According to the firm's report, Navi Mumbai Rising: A Comprehensive Perspective on India's Next Commercial Real Estate Hub, average office rents in the city are around INR 70 per sq ft per month. The report highlights strong growth in the region's commercial real estate sector, supported by infrastructure development, competitive costs and rising occupier demand. Navi Mumbai currently has around 32.7 million sq ft of prime office stock with over 430 occupiers, while an additional 23.5 million sq ft of office space is expected to be developed by 2031.Read more

4 hours ago

National Highways Authority of India-sponsored Raajmarg Infra Investment Trust will allocate the anchor portion of its upcoming INR 6,000 crore initial public offering exclusively to domestic investors, according to NHAI Chairman Santosh Kumar Yadav. The anchor book will open on March 10, ahead of the IPO subscription window from March 11 to March 13. The InvIT has set a price band of INR 99-100 per unit and plans to allocate over INR 1,700 crore to anchor investors. The public offering marks the first time NHAI is opening its highway asset monetisation programme to retail investors, aiming to unlock value from operational road assets while offering a long-term investment instrument linked to India's national highway infrastructure.Read more

14 hours ago

The Maharashtra government has announced a major underground metro corridor connecting Wadala to the Gateway of India in Mumbai at an estimated cost of INR 23,487 crore. The project, proposed as Metro Line 11, was outlined during the state budget presentation and aims to strengthen connectivity to South Mumbai. The government also indicated plans to extend the line from Dharavi to Bandra suburban railway station and Bandra Terminus in the future. Along with this corridor, the state highlighted progress on several metro expansions, tunnel projects and transport infrastructure developments aimed at improving urban mobility across the Mumbai Metropolitan Region.Read more

09 Mar 2026

The Maharashtra government is considering an increase of more than 5% in ready reckoner (RR) rates from April 2026, a move linked to the state's rising debt burden and widening revenue deficit. RR rates serve as the government's benchmark property valuation used to calculate stamp duty and registration charges. Officials indicated that the revision is under evaluation by the state registration department after district-level consultations and analysis of property transactions across major urban markets. In several cities such as Mumbai, Pune and Thane, transaction values already exceed existing benchmark rates, prompting the government to examine a revision to better align official valuations with market trends. The final decision is expected before the end of March, and if implemented, the change could increase the cost of property registrations across the state.Read more

09 Mar 2026

The Competition Commission of India (CCI) has approved a proposed transaction involving Bagmane Prime Office REIT acquiring stakes in several Bagmane Group entities. The deal includes the direct acquisition of Bagmane Developers Private Limited, along with its subsidiary Bagmane Green Power LLP, and the indirect acquisition of Bagmane Rio Private Limited. The transaction also involves the transfer of the commercial asset Luxor @ Bagmane Capital Tech Park through the acquisition structure. Under the deal, the REIT's sponsor group and certain third-party shareholders will receive REIT units in exchange for transferring their shareholdings in the target companies. Bagmane Prime Office REIT was registered with the Securities and Exchange Board of India in July 2025. The approval confirms that the combination does not raise competition concerns.Read more

09 Mar 2026

L&T Finance Ltd has launched Spoorthi , a specialised financing programme designed to support women entrepreneurs seeking home loans or loans against property (LAP) for business expansion and working capital needs. Announced ahead of International Women's Day, the initiative offers relaxed eligibility criteria, extended loan tenures and reduced interest rates for women borrowers. The programme will initially be rolled out across major metropolitan markets including Mumbai, Delhi, Bengaluru, Chennai, Pune, Ahmedabad, Kolkata, and Hyderabad. The initiative reflects the company's focus on encouraging greater financial inclusion and supporting women-led enterprises through easier access to credit.Read more

09 Mar 2026

Embassy Office Parks REIT has raised INR 1,400 crore through the issuance of non-convertible debentures (NCDs), continuing its strategy of securing long-term capital from institutional investors. The 10-year debt instrument was priced at a fixed coupon of 7.49% and was fully subscribed by one of India's largest life insurance companies. According to the company, the transaction forms part of its broader effort to extend the average maturity profile of its debt while market conditions remain favourable. This marks the REIT's second 10-year debt issuance during the current financial year. Embassy REIT manages a portfolio of more than 50 million sq ft of office assets across key markets including Bengaluru, Mumbai, Pune, Chennai and the National Capital Region.Read more

09 Mar 2026

State-owned National Highways Authority of India-backed Raajmarg Infra Investment Trust has announced a price band of INR 99 to INR 100 per unit for its INR 6,000 crore Initial Public Offering. The InvIT issue is scheduled to open for subscription on March 11 and close on March 13, while bidding for anchor investors will take place on March 10. The public issue aims to attract wider investor participation in national highway infrastructure while helping monetise highway assets. The investment manager for the trust is Raajmarg Infra Investment Managers Pvt. Ltd., which includes participation from several leading banks and financial institutions.Read more

09 Mar 2026

Nagpur Municipal Corporation's action against commercial property tax defaulters has covered only a small portion of the total outstanding dues. Out of around INR 190 crore pending from over 2,000 non-residential properties, warrants have been issued in just 359 cases, accounting for roughly 11.7% of arrears. A large share of high-value defaulters owing more than INR 5 lakh each remains outside strict recovery measures. With over INR 167 crore still untouched by warrant proceedings, concerns have emerged over the effectiveness of enforcement efforts.Read more