The Pune Municipal Corporation is planning to introduce credit bonds for executing the high capacity mass transit route which is also known as the inner ring road. Saurabh Rao, Pune municipal commissioner, has assured to execute the plan in three years.
Rao said that PMC had made the budgetary provision of ₹211 crore for HCMRT in the financial year 2019-20 and is planning to introduce credit bonds for the same. “PMC is working in a way that there would be no need to invest civic body’s money in this project. Instead of paying funds for acquiring land, PMC will give credit notes to the landowners. The landowners or developers would use these notes with PMC in future instead of paying for building permissions,” he said.
This project would need
~5,096 crore funds out of which
~1,550 crore will be needed for land acquisition. The HCMTRs length is 36 km and the entire road will be elevated. It would have 6 lanes and two will be dedicated for Bus Rapid Transit System. Even PMC is planning to raise cycle tracks along this road, he said. The standing committee of PMC had appointed a financial consultant for HCMTR project.
Meanwhile, HCMTR was planned 30 years ago in 1987. The main purpose of the road was to act as a ring road, but the civic body was unable to execute it.
Now, PMC has finally decided to go ahead with the project and construct the HCMTR, which will also be known as the inner ring road.
HCMTR will be completely elevated and the route will be 36 km in length, with a width of 24 km. For implementing the project, 77 hectares of land is required, and out of it, 35 hectares is already in PMC’s possession. The remaining land is owned by private parties.
The road will connect Bopodi, Savitribai Phule Pune University, Senapati Bapat road, Paud phata, Karve road, Dattawadi, Sarasbaug, Shankar Sheth road, Nehru road, Lullanagar, Ramwadi, Mundhwa, Vimannagar and Vishrantwadi.
Rao said that PMC had made the budgetary provision of ₹211 crore for HCMRT in the financial year 2019-20 and is planning to introduce credit bonds for the same. “PMC is working in a way that there would be no need to invest civic body’s money in this project. Instead of paying funds for acquiring land, PMC will give credit notes to the landowners. The landowners or developers would use these notes with PMC in future instead of paying for building permissions,” he said.
This project would need
~5,096 crore funds out of which
~1,550 crore will be needed for land acquisition. The HCMTRs length is 36 km and the entire road will be elevated. It would have 6 lanes and two will be dedicated for Bus Rapid Transit System. Even PMC is planning to raise cycle tracks along this road, he said. The standing committee of PMC had appointed a financial consultant for HCMTR project.
Meanwhile, HCMTR was planned 30 years ago in 1987. The main purpose of the road was to act as a ring road, but the civic body was unable to execute it.
Now, PMC has finally decided to go ahead with the project and construct the HCMTR, which will also be known as the inner ring road.
HCMTR will be completely elevated and the route will be 36 km in length, with a width of 24 km. For implementing the project, 77 hectares of land is required, and out of it, 35 hectares is already in PMC’s possession. The remaining land is owned by private parties.
The road will connect Bopodi, Savitribai Phule Pune University, Senapati Bapat road, Paud phata, Karve road, Dattawadi, Sarasbaug, Shankar Sheth road, Nehru road, Lullanagar, Ramwadi, Mundhwa, Vimannagar and Vishrantwadi.
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