Pune ring road project: ₹3,500 crore sanctioned for land acquisition
The project cost is ₹10, 520 crore for land acquisition and ₹17, 723 crore is expected to be spent for the ring road construction work.
The state government has given its in-principle approval for seeking funds of Rs3,500 crore from the Housing and Urban Development Corporation (HUDCO) which too has sanctioned the loan for the ring road project. According to the rules of government, till 80 per cent of work related to land acquisition was not completed, the work on the ring road project cannot begin. Administrative officials said that with the availability of the funds, the work for land acquisition will pick up pace.
Pune ring road project which is divided into east and western zones will be completed in two phases. The project cost is ₹10, 520 for land acquisition and ₹17, 723 crores is expected to be spent for the ring road construction work. Since the initial cost is related to land acquisition, the construction cost would be considered later. A meeting regarding the issue of funds was held during an inter-ministerial group meeting in mantralaya and the order seeking approval for HUDCO loan was taken by public works department deputy secretary DB Vibhute on Friday, who issued an order to the effect.
The remaining amount apart from the sanctioned loan will be given by the state government. According to the terms and conditions of the loan, the first instalment of the loan is scheduled to be repaid within eight months. The remaining amount for the project will be gathered from different financial institutions, the authorities said.
The 140 km ring road project is being executed by the Maharashtra State Road Development Corporation (MSRDC) and is expected to be completed by December 2025 while its earlier completion date was set as March 2025. The MSRDC started granting compensation to farmers for the ring road project and the first award of Rs5.65 crore has been given to a farmer from Urse for 2.05-acre land.
The ring road project has been divided into the eastern and western zones, wherein the eastern zone comprises Maval and Kelawade while the western zone comprises Bhor, Haveli and Mulshi talukas of the district.
Additionally, the acquisition of 395 hectares of land has to be carried out in 37 villages along Sinhagad road. The administration has completed the measurement of land in 36 out of the 37 villages, and preparations are underway for awarding compensation.
The state government has made a provision of Rs1,500 crore for land acquisition along Sinhagad road, and Rs250 crore has been credited to the account of the Pune district collector for the first phase.