City Beat: India's Pune & China's Jinhua To Become Sister Cities [Video]

The city of Pune is likely to join hands with China's Jinhua as a sister city. The decision was taken when recently a delegation of the Chinese city's municipal corporation visited Pune and officials of the Pune Municipal Corporation (PMC). According to PMC Major Prashant Jagtap, the tie up could help Pune to develop various infrastructure projects, including transportation, water supply and river development.

With the development of stronger civic infrastructure in Pune, which is also a part of the Smart Cities list, real estate here would become more lucrative and developers and home buyers would want to invest in the city.

In another development, builders in Pune, a city that witnessed a drop of 53 per cent in new launches in the financial year 2015-16 over the financial year 2014-15, are on a wait-and-watch mode on launching new projects. It seems developers are waiting for the Maharashtra government to enforce the new development control regulation (DCR) norms before they initiate any new launches in the city. These regulations are expected usher in many changes in terms of floor area ratio usage and transfer of development rights.

However, monthly data show new launches in the city picked up in the month of May and by implementing the new development control norms, the state will be able to give a major boost to property markets in Pune.