Pune Ring Road: The Game Changer of City’s Realty Market

Pune is one of the educational and vocational hubs of India. As a result, the city experiences humungous census inflow throughout the year. It’s myriad of educational and professional opportunities has made Pune an ideal place to settle down for people all over India and even abroad. The fastest growing IT industry along with manufacturing and automobile sector narrates the tale of the development of this city from a traditional base to a highly cosmopolitan smart city within a decade. To accommodate migrated census, the expansion of Pune was on priority. However, the pace of population inflow and urban expansion were not at par, leaving Pune in the midst of hazardous traffic condition. To resolve the problem the idea of Pune Ring Road was brought in by the government.

What is Pune Ring Road Project?

Pune Ring Road project is the result of rapid social and economic development of the city.  With a view to cope with the increasing population and streamlining the growing traffic condition, the construction of Pune Ring Road was proposed by Pune Municipal Corporation, and Pimpri-Chinchwad Municipal Corporation, which received an acknowledgement by former Chief Minister of Maharashtra Shri Vilasrao Deshmukh in the year 2007.

Purpose of the Project:

Pune’s Ring Road’s intended purpose is to reduce the stress of vehicular congestion within the city limits. It is planned in a way that heavy traffic, from the four National Highways i.e. Pune-Nashik, Mumbai- Pune-Solapur, Pune- Ahmednagar and Pune- Satara, which are now converging in Pune remains outside the city limits.

Project in Details:

The Ring Road is projected 161 km long circular road connecting 4 highways namely:

  • Pune – Nashik (NH 50)
  • Mumbai- Pune-Solapur (NH 9)
  • Pune- Ahmednagar
  • Pune- Satara

The ring road proposal is being conducted for the greater motive of connecting the remote outer locations of Pune together. This road will be used by nearly 10 lakh vehicles every day.

Proposed Pune Ring-Road Layout

Project Overview:

Here is a snapshot of the proposed Ring Road project in Pune:

  1. Total Length: 161.74 km
  2. Total Cost: ₹104.08 billion (US$1.4 billion)
  3. Service Lanes: 2 on both sides
  4. Flyovers: 12
  5. Rail Bridges: 4
  6. Bridges: 7 (over Valleys)
  7. Subway Roads: 14
  8. Tunnels: 13

The Villages to be Covered Under Ring Road Project:

The ring road will cover 29 villages of Pune district. They are Kesnand, Wagholi, Alandi, Kalegaon, Chimbli, Nighoje, Pirangut, Shirgaon, Bhivandi, Tulapur, Sudavadi, Indori, Chandkhed, Rihe, Gothawade, Urawade, Mutha Bahuli, Sangrun, Nigde, Khamgaon, Ghera Sinhagad, Kalyan (Pune District), Kondhanpur, Sriramnagar, Gogalwadi, Patharwadi, Bhivri and Kanifnath. The Pimpri-Chinchwad Municipal Corporation and Pune Municipal Corporation is about to acquire the required lands for this project from their respective jurisdictions. The Public Works Department has recommended the Design-Finance-Build-Operate-Transfer (DFBOT) model for this project. It would connect highways such as Pune-Nashik, Mumbai-Pune-Solapur, Pune-Ahmednagar and Pune-Satara that passes either through Pune and Pimpri-Chinchwad or border around these areas.

Recent Announcement on the project:

During foundation stone laying event of Pune Metro Line 3, Hinjawadi to Shivajinagar at Shiv Chhatrapati Sports Complex, Balewadi, on Dec 18, 2018, Chief Minister Fadnavis said, “Work on land acquisition for the proposed 36 km ring road project has already started and the project will take off soon as the land acquisition process is in the last stage.”

Scope of Real Estate Development:

The construction of ring road obviously brings in the expansion of Pune City and the easy connectivity attracts in urban development of these places. Real estate being the intrinsic part of the development of a city is also about to flourish at the adjoining places of Ring Road.

Here comes the connectivity plan of the project:

  • Towards the north east it connects Theur to Chimbali near Moshi intersected by the Ahmednagar highway and Nashik highway.  Interestingly it’s here the iconic L-axis and Woodsville projects are in full swing nearing completion.
  • The ring road further connects North West from Chimbali to Pirangut, intersecting Mumbai highway and Paud road. The lavish Vaarivana project is located along this stretch at Urse near Talegaon.
  • Moving ahead towards south western side it connects to Shivapur intersected by Satara highway.
  • Continuing ahead and coming a full circle in south eastern direction it connects Shivapur to Theur, intersected by Baramati and Solapur highway.

Project Impact on the city:

  1. Improved Traffic Conditions: The prime purpose of Ring Road is to streamline traffic flow of the city. It will restrict the out station public vehicles and commercial fleets from entering within city limits.
  2. Economic Corridor of Pune: This proposed ring road is going to be an ‘Economic Corridor’. Once completed, it will fuel to all sector’s growth.
  3. Triggers Real estate Developments: The road will develop Pune’s suburban micro-markets and trigger real estate developments.
  4. Infrastructural development: Along with real estate, development of civic and social infrastructure is about to peak pace along the road.
  5. Easy Connectivity: Fast, easy and safe connectivity will be ensured with reduced travel time.
  6. Improved Quality of Life: The development of Pune’s outskirts will bring a rise in opportunity and balance in professional and personal commitments, which triggers improved quality of life.

Investment Options For You:

Are you thinking to grab this opportunity for your future investment?  If you are yet to make a real estate investment then Ring Road can serve the destination for you. It is always the best move to invest in a property which has the future potential of investment returns.

Quick Tip: 

When you are about to invest a huge amount of your hard-earned money in a property, it is wise to select the most trusted real estate brand.

Pharande Spaces is one of the leading real estate and construction brand in Pune and PCMC. It has earned enormous trust and goodwill of its customers because of transparent and ethical trade practices, customer-centric approach, innovation and commitment to quality.

Take a look on ongoing projects of Pharande Spaces nearby Pune Ring Road.

For more details visit on http://www.pharandespaces.com/

So, what’s your take on real estate investments around Pune Ring Road? Kindly share your opinion in the comment section.

 

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