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Maha Metro real estate development plans get a boost
The Maharashtra government has granted the Maharashtra Metro Rail Corporation (MahaMetro) special planning authority status, which will allow it to control the development of land along the Metro Rail alignment in Pune and generate its own revenue. The Nagpur Metro project, for which commercial development of land has already begun, has already received SPA status from MahaMetro. Non-fare box revenues for Pune Metro are expected to be dominated by real estate development. This would strengthen the financial viability of the 33-kilometre, Rs 114.2 billion Pune Metro project, which is set to begin operations in December.
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