Major Highlights on the Upcoming Multiple Infra Projects in Pune!

Pune enters the spotlight as PM Modi inaugurates multiple development projects in the city.

These projects will eventually culminate in the growth of Pune as a city on par with urban metropolitans like Mumbai. Consequently, it will have a long-term impact on Pune real estate.

Here’s what you need to know about the projects in Pune:

1. Pune Metro Rail: A New Beginning

The PM inaugurated the Pune metro. He took a ‘joyride’ with school children, and thus marked an important milestone in the city’s history. He also opened and did an inspection of the exhibition at the Garwaare Metro Station. 

The Pune metro is a collaborative effort between the Maharashtra government and the Centre. The entire project is estimated to cost around ₹11,420 crore. PM Modi also inaugurated the RK Laxman Art Gallery Museum. 

2. Pune’s Green City Initiative

The PM talked about the long-term vision of switching to green transportation in Pune, and eventually in India. By increasing the number of green vehicles like electric cars, Pune will see a ride in sustainability and mobility. The Pune metro rail project is another attempt at improving the mobility of the city. It hopes to reduce the number of traffic jams in Pune and provide cheaper alternatives to people who commute back and forth for work.

3. Modern Waste Management System

The PMO said every city must have a modern waste management system to boost the circular economy. In a city as large as Pune, using technology to manage waste and sewage will cut down on several costs. It will also significantly remove dangers that are associated with manual scavenging.

4. Nadi Utsav 

In a country where water resources like rivers are worshiped, Nadi Utsav will be welcomed by the citizens. The PMO said that the Nadi Utsav seeks to remind people of the value of these water resources. 

5. The Gati Shakti Masterplan

The government of India recently launched its Gati Shakti Masterplan. The masterplan seeks to boost the ongoing construction in Pune with integrated focus. 

The Gati Shakti Masterplan will smoothen the paperwork and ensure the timely completion of projects in Pune. This could mean major milestones for the real estate in Pune, especially with affordable transportation like metro. 

As PMO said himself, Pune has solidified its identity as an educational and cultural hub. It is why modern amenities have now become a necessity for the people of Pune. 

How will this impact real estate in Pune?

Pune has always had a knack for attracting students and young professionals. As a city, it has shown remarkable development over the past decade. Projects like the construction of the metro, sustainable technology and more will contribute considerably to the physical infrastructure of the city. 

Since Pune is also a site for migration, the metro will greatly help students and workers in their travel. It will reduce the overall travel time and the fare considerably. Moreover, the metro is safer, and often touted as a cleaner alternative as compared to other public transports.

Encouraging an eco-friendly lifestyle by switching to green transport will become a major milestone for Pune. This year, Pune was in the news for mandating grey water to be used for construction purposes. The shift to green vehicles will further nurture the sustainable lifestyle that Pune is aiming for.

Conclusion: A promising future for Pune in real estate

The move to inaugurate multiple development projects in Pune holds promise for the future. The development projects will inevitably impact the real estate scene in Pune.

With its bustling infrastructure, Pune is already a prime location for real estate investors. The city is only slated to grow in terms of real estate, especially after these projects take shape. The city will see a lot of traffic, particularly from the fintech sector. The call for a greener city will also become a major tipping point for investors as people are increasingly moving towards eco-friendly lifestyles.

Thus, the decision to green signal these projects couldn’t have come at a better time.

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.