All You Need To Know About Pune Metro Project
Money has started pouring in for the Pune Metro as the Maharashtra government on March 8 allocated 23 per cent of its Rs 1,722-crore Budget approved for the Pune Metropolitan Region Development Authority (PMRDA) for the rail system. The Budget was allocated to reserve and begin the acquisition of 13.3 hectare of land for the development of the third corridor of the Pune Metro, the Hinjewadi-Shivaji Nagar line.
Here is all you need to know about the project.
Line-I: The 16.65-km route of the Pune Metro will run between Pimpri Chinchwad Municipal Corporation and Swargate. With 15 Metro station, the route will be both elevated and underground. In 2016, Prime Minister Narendra Modi had laid the foundation stone of this line, which is likely to become operational in 2021.
Plans are also underway to extend the line to Nigdi. The route will have three stations, Chinchwad, Akurdi and Nigdi. In 2018, the detailed project report (DPR) for the extension of the Pimpri-Swargate Metro route to Nigdi was approved by the Pimpri Chinchwad Municipal Corporation (PCMC).
Line-II: The 14.7-km Line-II of the Pune Metro will run between Vanaz and Ramwadi. With 16 Metro stations, the route will be completely elevated and will connect with Line-I and Line-III at the Civil Court Station. The work on this route is on and is likely to be operational by 2021.
Line-III: The 23.3-km stretch with 23 Metro stations will be the longest route on the Pune Metro running between Hinjewadi and Shivaji Nagar. This route will be constructed in two phases. The foundation stone of this project was laid by Modi in last year.
Impact on real estate
Line-I and Line-II of the Pune Metro are expected to connect some of the key commercial areas with the residential ones in the city. Localities such as Swargate, Dapodi, PCMC and Nigdi that fall on Line-I route are some of the prime commercial areas that house IT companies, special economic zones and government offices. On the other hand, Line-II has some of key residential localities, including Kalyani Nagar, Mangalwar Peth, Anand Nagar, Ideal Colony, Kothrud, among others.
Meanwhile, Line-III will also be connecting IT parks in Hinjewadi to some of the emerging residential localities of Balewadi and Shivajinagar.
The mix of these three lines will have a positive impact on the prices and monthly rentals both commercial and residential properties in these areas.
Property prices (in Rs psf)
Rent (in Rs per month)