Keeping the need for development in mind, a lot of new road construction projects keep coming up. It is important to keep the infrastructural development ongoing or else it will not accelerate the growth of the country in the right direction. After the Mumbai- Pune expressway or the regional ring road in Hyderabad, we are now going to shift our focus to the Pune ring road project.
The Pune ring Road runs for as much as 128 km of circular stretch. The main aim behind making this road was to improve the current commuting conditions and to set the right groundwork that will help in further infrastructural development of the city. Let us dive deeper into the details of this project and the impact it will have on the people of Pune.
The project was conceptualized back in 2007 by the Maharashtra State Road Development Corporation Limited. However, the approval took a lot of time and several issues came up, especially regarding land acquisition. The proposed aim was to control the traffic flow that was entering the city and to manage it well.
As per reports and records, the concentration of four-wheelers increased by 9.57% and two-wheelers by 8.24% in a single year (2017 to 2018). So, the right steps were needed to accommodate the extra traffic coming in and the answer came in the form of the Pune ring road.
The Route Maps
The net budget for this project has been fixed at Rs. 17,000 crores. It is the Pune Metropolitan Region Development Authority that will be developing this circular stretch. Orders were given to make it in four separate phases.
The central government will be contributing three fourth of the project cost while one-fourth will be borne by the Pune metropolitan body. The latter would dive into the town planning schemes to procure the money needed.
This stretch will have as many as two service lanes and eight flyovers. Along with this, four bridges will be made over railways. There are going to be 13 tunnels, 14 subway roads, and 7 viaducts.
The main bottleneck came in the process of land acquisition as the PMRDA could only acquire 24 percent of the land. The reason is a shortage of funds.
Here are the details of the route map for the construction phases.
- Phase 1: Theurphata – NH 9 – Kesnand – Wagholi – Charholi – Bhavdi – Tulapur – Alandi – Kelgaon Chimbli – NH 50
- Phase 2: NH 50 – Chimbli Moi – Nighoje – Sangurde – Shelarwadi – Chandkhed – Pachne – Pimploli – Rihe – Ghotawde – Pirangut phata.
- Phase 3: Pirangutphata – Bhugaon – Chandni Chowk – Ambegaon – Katraj
- Phase 4: Ambegaon – Katraj – Mangdewadi – Wadachiwadi – Holkarwadi – Wadkinaka – Ramdara – Theurphata – NH 9
The Ring Road And Real Estate
As per the reports and estimates, this ring road is going to have a huge positive impact as far as the real estate sector in the city is concerned. Once this road is developed, it will lead to smarter and better commuting and much more managed traffic. This means that the city can pick up momentum and capitalize on the growth it is already witnessing. A lot of real estate developers and big firms are expressing interest as Pune has shown great promise as a potential market for great job seekers as well.
The PMRDA is also actively involved in town planning schemes. They have been working in the Mhalunge and the Mann areas. This township is going to be spread over as many as 700 acres of land. The budget is slated at Rs. 450 crores and it is expected to generate gross revenue of upwards of Rs. 10,000 crores in the next 5 years. The government surely has a lot of hope for this project.
This is not all as more than 15 townships are expected to be developed along phase 1 itself of the ring road. Several areas have been marked and these include
- Wadachi Wadi
- Manjri Budruk
- Urali Devachi
The PMRDA clearly stated that it plans in raising a fourth of the project cost through these town planning schemes. So, one can be sure that massive real estate expansion is on the cards as far as Pune is concerned. One is likely to see several sky-rise buildings and complexes come up in the not-too-distant future in the city.
The Current Status
As per the latest media reports, as many as 1,740 hectares of land are being acquired and this process has kickstarted. Of this, 1601 hectares will be private land and the compensation offered will be calculated as per the current market value rate.
90 percent of the measurement work is already done. It is the land acquisition part that is taking the most time. On the western part, the land acquisition has started too.
33% of the budget for land acquisition has been disbursed and the government is working actively to push this project towards completion.
The Pune government is also leaving no stone unturned to ensure they can raise the right money by planning the townships and generating a good source of income. As more and more IT companies come to the city and celebrate a good source of revenue, the real estate market is likely to witness good growth and this will bear the right fruits.
The project also ended up facing major delays owing to the Covid-19 induced pandemic. However, the Pune corporation is now pushing itself hard to ensure that the project can see a speedy completion. Private land is being acquired at a great speed to ensure the process can move in the right direction.
What is the length of the Pune ring road?
The length will be 128 kilometres long. It will however be a circular stretch and hence the name ring road
What is the key aim behind this project?
The Pune Ring Road Project was mainly conceptualized to ease traffic congestion and cut down on the travel time
Will the Pune ring road project impact the real estate industry?
Of course, any big road construction project is always going to have some impact on the real estate industry. The planned townships and the road project will likely have a very positive and fruitful impact on the world of real estate in Pune. A lot of big real estate firms are also expressing interest in making new complexes, both residential and commercial in Pune. The government aims to generate massive revenue from it.