Everything to know about the Pune Metro project
The foundation stone for the Pune Metro was set in December 2016 after being conceptualized in 2009. The Maharashtra Metro Rail Corporation Limited (MahaMetro) has covered both elevated and underground options inside the partially functional corridors from Pimpri Chinchwad Municipal Corporation (PCMC) to Swargate and Vanaz to Ramwadi, with a projected cost of about Rs 11,400 crore.
Over 900 trains are anticipated to run to ease the commute, each of which may have three carriages. Once fully operational, trains may run for 19 hours each day, from 5 AM to 12 AM, moving at a maximum speed of 80 kilometers per hour. The grand finale of each strain is expected between December 2022 and early 2023 after being delayed due to issues with land acquisition and the COVID-instigated lockdown. According to the Pune Metro’s current popularity, all 10 of its stations have been open for business since the system’s March 2022 opening. The current operating hours on each line are 13 to 14 hours. There are about 27 trains that run, and the fare ranges from Rs 10 to Rs 20, with a roundtrip costing Rs 30.
The extension of physical property is significantly influenced by infrastructure development. Pune Metro’s micro-markets, particularly those that are close to the stations that are already operating, are benefiting greatly from a significant increase in asset values. According to Gauri Godse, Manager of Fusion Homes in Pune, “PCMC has many land parcels, both public and private. Ever since the announcement about the metro rail was made, the fees have increased by at least 7–8% in the north. Either developers are constructing residential flats, or private individuals are donating their land to developers. To make a significant Return on Investment, the majority of those who are conserving resources in this area lease them (ROI). The location is prepared to receive the center-level subway.
The impact of the metro has yet to be felt in the case of micro markets, which already score highly on connection and livability. “Deccan Gymkhana will have a dedicated station, but being a top-notch neighborhood already, it’s tough to state whether or not the price rise is due to the metro or demand among homebuyers,” says Bhagwat Latkar, Proprietor, Phoenix Properties, in Pune. It’s miles but to benefit the anticipated steam because the metro challenge has been significantly delayed. However, once the Pune Metro is fully operating, it will likely have an impact on the real estate market, with at least a 10% price increase in the advanced areas or much more in the developing districts.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.
