RBI Expected To Hike Rates, CRR

The Reserve Bank of India will announce its annual monetary policy on April 20, 2010. In an exclusive interview with CNBC-TV18, Indranil Sengupta, Chief Economist, DSP Merrill Lynch, speaks about his expectation from the monetary policy.

As Indranil Sengupta said on CNBC-TV18, “We are looking at the RBI hiking rates and the CRR by 25 basis points on Tuesday and also tightening provisioning requirements on bank lending to real estate norms.”

Read the article in MoneyControl, Expect RBI to hike rates, CRR by 25 bps on April 20: DSP ML.

Preity Zinta’s Pune Builder Connection

Preity Zinta is likely to be declared the heiress to Shandar Amrohi, who is one of the co-owners of Kamalistan Studios (worth Rs 600 crores) that originally belonged to Meena Kumari and Kamal Amrohi. It is said to be a prime property, being eyed by several builders.

There is a strong rumour that suggests that at some point Preity will sell some part of her IPL stake and redevelop the Kamalistan property along with a high-profile builder from Pune.

Read the rest of the article, Preity Rich Zinta is worth more than ‘1000 cores’.

Bus Rapid Transport System For Aundh-Ravet Route

The Asian Development Bank (ADB) has shown interest in providing loan to PCMC Infrastructure Company Private Ltd, the special purpose vehicle (SPV) floated to implement different projects under the mass transport system, especially the Bus Rapid Transport System.

The PCMC under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) has approved the two BRTS routes— Aundh-Ravet and old Mumbai-Pune Road.

Read the complete article, ADB may fund PCMC projects.

PCNTDA Wins Land Cases

The Pimpri-Chinchwad New Township Development Authority (PCNTDA) will now be able to develop around 16 hectare land in Chinchwad and Wakad villages in the Pimpri-Chinchwad township as the landowners, who had demanded that their land is excluded from the PCNTDA limits, have lost their cases.

The state revenue department in 2004 had issued an order that 3.94 hectare land in survey no 208 and 6.46 hectare land in survey no 209 in Wakad village is excluded from the PCNTDA limits. The PCNTDA had challenged this order in a writ petition at the high court in 2004. The high court first stayed the order and later cancelled it after the final hearing. The SC has given a verdict in favour of the PCNTDA.

Read the TOI article, PCNTDA wins land cases.

Pharande Spaces Launches Pune Property Blog

PCMC And Pradhikaran Real Estate Comes In Sharp Focus

PUNE, April 15, 2010: Pharande Spaces, a leading construction and development firm that develops township properties in the PCMC area of Pune, India, has announced the launch of an exclusive thought leadership blog on this burgeoning real estate investment corridor.

“We have launched www.punepropertyblog.com in an effort to increase awareness about the immense real estate investment potential in the Pimpri Chinchwad Municipal Corporation. In areas such as Pradhikaran, properties are now in high demand by those who are seeking the best deals on the Pune property market,” says Anil Pharande, President of CREDAI PCMC and Chairman of Pharande Spaces. “There is no better time than the present to make in-depth information available to investors and self-use buyers who have set their sights on this promising new growth area.”

“The Pimpri Chinchwad New Township Development Authority (PCNTDA), popularly known as Pradhikaran, has been a major catalyst in the planned development of Pune’s burgeoning PCMC area,” states Avinash Gokhale, Director – Marketing & Corporate Planning, Pharande Spaces. “This development authority has transformed a once exclusively industrial zone into one of the hottest destinations for those buying residential property in Pune – and indeed in the country. We are confident that www.punepropertyblog.com will serve as an immensely useful resource to both investors and self-use buyers.”

Considering the relative newness of Pradhikaran on Pune’s real estate investment landscape, the information so far available on the internet is sketchy and conflicting. Anil Pharande is confident that www.punepropertyblog.com will go a long way in setting the record straight, and in helping those looking at real estate investment properties in Pune to make more informed decisions.

About Pharande Spaces:

Pharande Spaces are amongst the most dynamic construction companies in the Pradhikaran area of Pune, with several landmark integrated township projects (including the award-winning Culture Crest) to their credit. Recent launches which have attracted widespread attention are Woodsville and, in a joint venture with The Rama Group, Celestial City.

Website: http://www.pharandespaces.com

Email: pharandespaces@gmail.com

Address: Pharande Spaces, Sneh Leela Chambers 2nd Floor, 1237, Apte Road, Shivajinagar, Pune-411004.India.

Phone: +9109881128024, 098817 45862

You may reprint or quote this article with full credit to the author and a link back to PunePropertyBlog.com

PCMC Cuts Non-Essential Costs

The Pimpri-Chinchwad Municipal Corporation (PCMC) seems to be displaying better financial wisdom than the PMC in Pune when it comes to spending on “non-essential” matters.

The PCMC has slashed spending on various birth anniversaries of national leaders by 30%, terming it as “non-essential” expenditure.

Read the rest of the article, PCMC cuts down on ‘non-essential’ costs.

Pune Citizens Dedicate One Hour A Week For Environment

More than 600 citizens in Pune resolved to dedicate one hour every week to improve the city’s environment on Sunday. The first activity they will undertake is the cleaning up of all the 150 nullahs that flow through the Pune and Pimpri-Chinchwad Municipal Corporation limits.

The first ‘Pune Resolve Conference’ held at Garware college on Sunday was organised by Samarth Bharat Vyaspeeth (SBV). Around 100 NGOs working in health, education, public governance, environment, transport, river conservation and bio-diversity participated.

Read the rest of this TOI article, Citizens pledge one hour every week for city.

Increased Police Security For Pune

State Home Minister R R Patil on Sunday said that he will form a committee to study the feasibility of reviving 150 closed police chowkies in the city for increasing the police presence to enhance security situation.

Patil was in the city for a meeting with elected representatives of political parties and top government officials at the police commissionerate to review the law and order situation. Mayors of the Pune Municipal Corporation (PMC) and Pimpri Chinchwad Municipal Corporation (PCMC) were also present in the meeting.

Read the rest of the Sakaal Times article, Govt may reopen 150 city police chowkies.

Pune Citizens Must File Tree Cutting Applications Immediately

The High Court restrictions on tree cutting has put the garden department of the Pune Municipal Corporation in a tight spot. To avoid trouble due to obstructive trees in monsoon, the department has asked citizens to file their applications for tree cutting immediately.

The process of cutting trees, which pose a danger to life and property, is usually taken up by the civic body at the onset of monsoon. But since May 2009, the HC has made it mandatory for the PMC and citizens to seek its permission before cutting any tree in the city.

Citizens can call the garden department on 25538553 or 25532514 or send their applications with a photograph of the tree to be felled on the address: The Garden department, PMC, Sambhaji garden, J M road, Shivajinagar, Pune 5.

Read the rest of the TOI article, PMC invites applications for tree cutting.

Census To Start In Pune, Pimpri-Chinchwad

Come May 1 and residents of Pune, Pimpri-Chinchwad and the surrounding rural areas will begin to participate in the National Housing Census and National Population Registry drive.

All residents of Pune district will have to fill up two questionnaires with 50 questions when the enumerators conduct the house-to-house survey. They will seek data like names of family members, age, income, education, standard of living and property details. A photograph of every family member above the age of 15 and their finger prints will be collected.

Snap shot

Population in 2001 : 72,67,535

Projected population in 2011: 91,42,379

Increase of around 20% to 25%

Census in will be conducted in 14 talukas, 11 municipal councils, 3 cantonment boards, 14 wards of the PMC and 4 wards of the PCMC

Read the rest of the TOI article, Govt machinery shifts gear for May 1 census exercise.