Pune Ring Road's Western Phase Land Acquisition: A Boost to Real Estate
The western phase of Pune Ring Road's land acquisition is expected to be completed by June end, paving the way for a real estate boom in the region.
Pune Ring RoadLand AcquisitionReal EstateInfrastructure DevelopmentProperty PricesReal Estate PuneJun 14, 2024
The Pune Ring Road project is a 170 km-long ring road that will connect the city's suburbs and provide an alternative route for traffic heading towards Mumbai. The project is being implemented by the Maharashtra State Road Development Corporation (MSRDC) and is expected to be completed in phases.
The western phase of the project, which is currently underway, will involve the acquisition of around 1,500 hectares of land. The land acquisition process is expected to be completed by June end, following which the construction work is likely to begin.
The Pune Ring Road project is expected to have a significant impact on the real estate sector in the region. With the project, the connectivity to the suburbs will improve, making them more attractive to homebuyers and investors. The project is also expected to lead to an increase in property prices in the region.
Many experts believe that the Pune Ring Road project will be a game-changer for the real estate sector in Pune. With improved connectivity, the suburbs are likely to witness a surge in demand for housing and commercial spaces. The project is also expected to attract more businesses and industries to the region, leading to an increase in employment opportunities.
The Pune Ring Road project was first proposed in 2007, but it gained momentum only in 2017 when the Maharashtra State Road Development Corporation (MSRDC) was appointed as the implementing agency. The project is being funded by the Maharashtra government and is expected to be completed in phases.
Maharashtra State Road Development Corporation (MSRDC) is a state-owned corporation responsible for the development and maintenance of roads in Maharashtra. The corporation was established in 1996 and has since implemented several road projects in the state.
Frequently Asked Questions
What is the Pune Ring Road project?
The Pune Ring Road project is a 170 km-long ring road that will connect the city's suburbs and provide an alternative route for traffic heading towards Mumbai.
When is the land acquisition for the western phase of the project expected to be completed?
The land acquisition for the western phase of the project is expected to be completed by June end.
How much land will be acquired for the western phase of the project?
Around 1,500 hectares of land will be acquired for the western phase of the project.
What will be the impact of the Pune Ring Road project on the real estate sector?
The project is expected to improve connectivity to the suburbs, making them more attractive to homebuyers and investors, and leading to an increase in property prices.
Who is implementing the Pune Ring Road project?
The Maharashtra State Road Development Corporation (MSRDC) is implementing the Pune Ring Road project.
Related News Articles
Industrial and Logistics Real Estate Demand Surges by 50% in Q3
According to Savills, a leading real estate advisory firm, the demand for industrial and logistics properties saw a significant boost in the July-September quarter, recording an impressive 50% growth. The absorption in this sector reached 17.5 million squ
Air India's Real Estate Sell-Off Fails to Take Flight
Air India's attempt to sell 56 properties across India has been met with little interest, with less than 10 properties sold so far.
Arika by Birla Estates Reaches Milestone with Rs 3000 Cr Sales
Arika, a project by Birla Estates, has achieved a remarkable milestone by recording sales of Rs 3000 crore, setting a new benchmark in the Indian real estate sector.
1-Oak's Debut Project Eden@1 Sells Out in Just 15 Days: A Testament to Global Expertise and Local Appeal
In a groundbreaking achievement, international real estate developer 1-Oak's flagship project, Eden@1, has completely sold out within a mere 15 days. This unprecedented success highlights the company's global expertise and strong local appeal.
NCR Experiences 61% Surge in Office Absorption Despite 22% Drop in Net Supply in 2024
The National Capital Region (NCR) saw a significant 61% increase in office absorption in 2024, primarily fueled by the robust demand from Global Capability Centers (GCCs) and the technology sector, despite a 22% decline in net supply.
Government Concedes: Slowing the Pace of Reforms
The government has decided to slow down its ambitious reform agenda in response to mounting public pressure and economic concerns, marking a significant shift in policy direction.