Maharashtra Chief minister Devendra Fadnavis cleared a proposal to fund the ring road project through town planning schemes. The Pune Metropolitan Region Development Authority will undertake 12 9km the project in two phases, the first of which is expected to complete in three years. The entire project is estimated to take seven years for completion.
The town-planning schemes were floated as a means to fund the project, on the lines of the Gujarat model of land monetization. The CM approved the proposal at the third PMRDA general body meeting in Mumbai. More than 10,000 hectares will be acquired for the 20-plus townplanning schemes along the ring road, which is estimated to cost Rs.17,412 crore.
The detailed project report will be prepared by a consortium of three companies -Intelligent Information Conversions Technologies (Hyderabad), Monarch Surveyors and Engineering Consultants Private Limited (Pune), and India International Infrastructure Engineers Ltd (Bengaluru).
PMRDA chief Kiran Gitte has proposed for the Surat and Ahmedabad town planning models for setting up corporate and industrial hubs along the ring road, likely near the Chakan industrial belt and the proposed airport in Purandar.
Gitte further said that with over 2 lakh people needing affordable housing, they will look to attract as many builders as possible to the town planning schemes. With Pune saturated, these individual clusters can take on a lot of projects, he added.
Most of the clusters will come up on government land, while the PMRDA will also acquire and develop private land which will be sold back to the original owners. PMRDA was recently granted 7,800 hectares of government land for this purpose.But before proceeding with the schemes, the authorities will first clear the land of encroachments before fencing it off.