The proposed 170km Pune ring road is expected to be completed by December 2025, MSRDC officials told on Friday.
On Thursday, the state cabinet gave approval to the Maharashtra State Road Development Corporation (MSRDC) to raise a loan of Rs 35,629 cr to acquire land for three major road infrastructure projects in the state from Housing Urban Development Corporation (HUDCO).
According to officials, of the three road projects, the Pune ring road project will be allocated nearly Rs 11,000 crore for land acquisition from 83 villages in the Pune district.
“The approval to raise loans will help MSRDC speed up the land acquisition process to commence the actual work. We need around Rs 11,000 cr for completing the land acquisition process for the entire stretch and we should complete the announcement of compensation for these lands in all these villages by mid-December,” said a key MSRDC official. The proposed project was the need of the hour as it would segregate urban and local traffic from usual highway vehicles.
With the land acquisition process, which includes a survey and announcement of compensation, underway in 72 of the 83 villages, the project should be completed as per the deadline given by chief minister’s war room, added officials. The survey has been completed in all the villages while the compensation amount has been declared for 15 villages
By January the contractor will be appointed and work will commence in April 2023. It will be completed in approximately 32 months, so by December 2025, added the official.
While land acquisition costs have been raised from HUDCO, the actual project cost which is about Rs 16,000 cr will be raised through various financial institutions.