PMRDA to Allocate 9.7 Hectares of Land to Tata Group

10 Oct 2023 CW Team

The Pune Metropolitan Region Development Authority (PMRDA) has taken a significant step towards enhancing non-fare revenue for the forthcoming 23km elevated third Metro line running from Hinjewadi to Shivajinagar. PMRDA's Chief Engineer, Rinaj Pathan, revealed that a total of 9.7 hectares of land is set to be handed over to the concessionaire, Tata Group, for commercial development purposes.

Of this land, 4.75 hectares have already been transferred to the concessionaire in Balewadi, with an additional 5 hectares in Maan slated to be allocated in the near future. This move is expected to facilitate real estate development, akin to what has been achieved for the city's existing two Metro lines.

The proximity of this land to the elevated Metro line makes it an attractive proposition for real estate developers looking to invest in the area. A senior official from PMRDA commented, "Real estate developers can invest in the land as it will be close to the elevated line."

Anticipating a substantial boost to the construction sector along the Metro routes, executive council member of Credai-National, Shantilal Kataria, expressed optimism about the transformation of Pune's cityscape. Kataria remarked, "We can anticipate high-rises and premium properties getting developed along all the three Metro lines. Increased Floor Space Index (FSI) for developers embarking on projects along the Metro route will undoubtedly support the Metro's objectives."

The allocation of land for commercial development marks a significant milestone in the ongoing expansion and development of Pune's Metro network, with potential far-reaching impacts on the city's urban landscape.

Real Estate

05 Dec 2025

RBI Rate Cut Boosts Confidence Across Housing Market

Industry Context and Market DynamicsThe real estate industry has welcomed the RBI’s rate cut as a timely boost to affordability and demand. With home prices having risen steadily across major markets, even a marginal reduction in interest rates meaningfully strengthens purchasing power, especially for first-time and mid-income buyers.Ashish Jerath, President – Sales & Marketing, Smartworld Developers, observes:“The RBI’s 25-basis-point cut, bringing the repo rate down to 5.25%, is a timely boost for the real estate sector. Lower interest rates reduce borrowing costs, enabling homeb..

BMC Resumes Rs 170 Billion Road Works, Targets 80 per cent By Jan 2026

Following the withdrawal of the southwest monsoon in October, the Brihanmumbai Municipal Corporation (BMC) has restarted work on 645 roads—covering 297.49 kilometres—under its large-scale concretisation programme. Data shows that more than 60 per cent of the resumed works are located in the western suburbs. Officials said the civic body aims to complete concretisation on 80 per cent of the roads where fresh work has begun by January 2026. Launched in 2022, the Rs 170 billion project seeks to concretise 700 kilometres of roads across Mumbai. All civil works were halted during the monsoon ..

India Pushes Digital Shift In Urban Land Mapping

The Department of Land Resources (DoLR) under the Ministry of Rural Development has convened a National Symposium on NAKSHA – the National Geospatial Knowledge-based Land Survey of Urban Habitations – to advance India’s transition to modern, technology-driven land mapping. Speaking at the inaugural session, Secretary Manoj Joshi underscored the urgent need to move revenue departments away from outdated, tape-based methods and rough hand-drawn sketches. He stressed that adopting latitude–longitude-based digital mapping and GIS-linked registration systems is essential for economic stabi..