Real Estate

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

Pune, a hub of educational and vocational institutes is also known for its manufacturing and automobile industries. And the information technology sector has changed the identity of Pune in the last decade.

Pune has experienced vast development in the past decade. And the IT sector has a major role in changing traditional Pune into smart city Pune. Major developments have planned for Pune and Twin cities in the next few years and one of is Pune Ring Road.

 

What is Pune Ring Road Project?

Rapid Social and economic development cause heavy traffic in the city and the solution for this problem, Pune Municipal Corporation, and Pimpri-Chinchwad Municipal Corporation, proposed Pune Ring Road.

This decision was taken on 12 June 2007 by the then Chief Minister of Maharashtra Shri Vilas Rao Deshmukh.

 

Purpose of the Project:

Pune’s Ring Road’s intended purpose was to keep the heavy traffic, from the three National Highways (NH-4, 9, 50) converging in Pune, outside of city limits.

 

Project in Details:

The Ring Road is projected 161 km long connecting 4 highways such as

Pune – Nashik (NH 50)

Mumbai- Pune-Solapur (NH 9)

Pune- Ahmednagar

Pune- Satara

That either pass through Pune and Pimpri-Chinchwad and city outskirts. This road will be used by nearly 10 lakh vehicles every day.

 

Covered Villages:

Ring road will cover 29 villages of the district including are Kesnand, Wagholi, Bhivandi, Tulapur, Alandi, Kalegaon, Chimbli, Nighoje, Sudavadi, Indori, Shirgaon, Chandkhed, Rihe, Gothawade, Pirangut, Urawade, Mutha Bahuli, Sangrun, Nigde, Khamgaon, Ghera Sinhagad, Kalyan (Pune District), Kondhanpur, Sriramnagar, Gogalwadi, Patharwadi, Bhivri and Kanifnath.

 

Project Overview:

  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

 

Recent Announcement on the project:

Chief Minister Fadnavis said, during foundation stone laying event of Pune Metro Line 3, Hinjawadi to Shivajinagar at Shiv Chhatrapati Sports Complex, Balewadi, in Pune on Dec 18, 2018 “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 leg.”

 

Project Impact on The city:

  1. Economic Corridor of Pune:- This proposed ring road will be developed as an Economic Corridor. Once completed, it will fuel to all sector’s growth.
  2. Triggers Several Residential Developments:- The road will develop Pune’s suburban micro-markets and trigger Several Residential Developments.
  3. Development of civic infrastructure, real estate and social infrastructure along the road.
  4. Fast and safe connectivity, reduced travel time

An overall development of Pune’s outskirts with an expected rise in both jobs and homes and improved quality of life.

 

Investment options For You:

Are you thinking to grab this opportunity for your future investment?  It is always the best move to invest in property which has the future potential of Capital value and rentals.

Quick Tip:  When you are about to invest a huge amount in property, always go with 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.

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