2016 is going great for Pune. It was included in the first list of Smart City Project. The work on the new international airport is progressing. And now the Union Cabinet has approved the first phase of the much awaited Pune Metro Project.
In the 1st phase, two lines will be developed. One would run roughly 14.7 k.m. from Ramwadi to Vanaz. The other would span 16.6 k.m. and run between Swargate and Pimpri Chinchwad. The former would be entirely elevated corridor while the latter would include both underground and elevated portions.
The entire project cost for the Pune Metro is estimated to be around ₹11,420 crore. The investment will be made jointly by the state and central governments. Around sixty percent of the cost requirements would be met by loans.
The project has seen its share of delays but now with the approvals in place, it is projected that the metro would be up and running within 5 years of commencement of work. The groundbreaking ceremony is expected to be held on December 24 when the Prime Minister is scheduled to visit Pune.
Pune has witnessed a flurry of development in real estate with bright prospects luring homeowners from across the nation. This has taken some toll on the overall traffic conditions in the city. The proposed Metro project would provide much-needed relief to the growing traffic. It will also have an incremental effect on the quality of living in the city with around 50 lakh populace directly being benefited from this project.