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PMRDA to lease out prime land in Shivajinagar to raise funds for Pune Metro line 3
PMRDA to lease out prime land in Shivajinagar for Pune Metro line 3, expected to raise over ₹500 crore. State govt provided land instead of direct financial assistance.
The Pune Metropolitan Region Development Authority (PMRDA) has decided to lease out prime land located in Shivajinagar adjacent to the old Pune-Mumbai highway to raise funds for the Pune Metro line 3 (Hinjewadi to Shivajinagar). The PMRDA has estimated the base price of this land as ₹396.50 crore.
In 2019, the state cabinet had given three government land parcels in Pune city to the PMRDA as part of the funding for the proposed Pune Metro line 3.
An official of land and estate of the PMRDA deputy collector, said, “The state government has handed over land to the PMRDA that was initially designated for the government polytechnic, dairy development, and police department. We have initiated the leasing out of 7.14 hectares of dairy development land for a long period (80 years). The land is located adjacent to the old Pune-Mumbai highway. We are expecting over ₹500 crore from long-term lease.”
“Instead of giving direct financial assistance of ₹1,200 crore, the state government has provided land to help raise funds for the PMRDA metro rail project,” he said.
The PMRDA has cleared structures on this land and published a tender on March 12, 2024. The land is located in Bhamburda plot numbers 19 and 20, Shivajinagar.
In total, the state government provided 53.94 acres of land to the PMRDA which includes 26 acres from the government polytechnic on Ganesh Khind Road; 17.64 acres from the dairy development department in Shivajinagar; and 10.3 acres from the Pune rural police and wireless department. The estimated cost of the metro route from Hinjewadi to Shivajinagar is ₹8,312 crore.
Meanwhile, the PMRDA is working on Pune Metro line 3; a 23.3 km route from Mann village through Hinjewadi to Shivajinagar. Around 40% of the work has been completed. Deputy chief minister Ajit Pawar recently reviewed the project, and urged that it be completed speedily. Additionally, the PMRDA is building a double-decker flyover on Ganesh Khind Road as part of the Pune Metro line 3, which is expected to be completed by November next year.
Once operational, line 3 will cover the 23.3 km distance from Mann Metro Depot to Civil Court in Shivajinagar in less than 40 minutes, down from the current hour-long road journey. The Metro line 3 will have 23 stations, connecting places like Baner Road, Balewadi, Aundh, and Pune University. The project is being developed under a PPP model with an initial concession period of 35 years for the project implementing agency.
