The proposed Pune International Airport has obtained approval and work will start soon after the go-ahead given by the Central Government. The Maharashtra Government has already obtained the requisite clearances from the MoD (Ministry of Defence) for preparation of the DPR (detailed project report) for the upcoming report. The name of the airport will be Chhatrapati Sambhaji Raje International Airport and it will come up with costs estimated at around Rs. 14, 000 crore.
The airport will cover 2, 400 hectares which covers villages in Purandar and 1, 300 hectares is already owned by the Government. The site at Purandar has already garnered approvals from the AAI (Airports Authority of India). The airport is located 45 kilometres away from the Pune city center and will cater to both domestic and international operations. The public-private partnership method will be used for building this new airport and it will relieve the current Lohegaon airport of the huge traffic. The project could be finished within 4 years.
There will be 6 routes linking to this airport which includes the National Highways 17 and 4. A metro railway link to the airport from Bhosari may also be developed in the future. The real estate markets near the new airport will definitely get a major boost once work starts in full swing. Commercial development will get a boost with several offices, stores and hotels opening here and this will ultimately have a positive impact on the residential real estate category as well.
Chief Minister of Maharashtra, Devendra Fadnavis, has also confirmed the building of special ring roads which will link this airport to major industrial and business zones in Pune including some areas in Talegaon MIDC, Chakan MIDC, Rajiv Gandhi Infotech Park and the Bhosari MIDC. Areas like Saswad, Bibvewadi, Bhosle Nagar and Dhanori which are near the airport will witness a rise in overall residential real estate demand as per reports. Additionally, locations such as Hadapsar, Raigad, Rajgurunagar, Magarpatta City, PCMC, Satara, Talegaon, Kolhapur and Sangli should get a boost since property prices and demand should go up due to the construction of the new airport.