A Pune developer has formally withdrawn from a ₹230 crore property transaction with a Jain trust following sustained religious opposition from the community over land in Model Colony.

Institutional investors in India are increasingly adopting Development Management Agreements (DMAs) to maximize returns while mitigating execution risks in high-value urban real estate projects across Mumbai, Bengaluru, Gurugram, and Pune.

Maharashtra's Charity Commissioner has ordered a status quo on a contentious ₹230-crore land deal involving Seth Hirachand Nemchand Smarak Trust and Gokhale Landmarks LLP in Pune's Model Colony, following protests over an allegedly undisclosed Jain temple on the property.