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Pune Smart City Development Corporation awaits PMC approval for project: ‘6th letter since Oct’

The Rs 1,251-crore hub will be constructed on a 10.84-acre plot in Balewadi

Written by Ajay Jadhav | Pune |
July 19, 2018 2:14:01 pm
To manage its 3,700 bills, PMC hires management service worth Rs 36 lakh Once the PMC gives necessary permissions for the project, which will be carried out on a Public Private Partnership (PPP) basis, the PSCDCL will begin the process of appointing a developer.

Awaiting the approval of the Pune Municipal Corporation (PMC) for implementation of the Rs 1,251-crore multimodal transit hub project, the Pune Smart City Development Corporation Ltd (PSCDCL) has again sent a reminder the civic body.

In a communique to municipal commissioner, PSCDCL CEO Rajendra Jagtap said it was in the process of structuring the project and had made numerous requests to the PMC regarding the implementation of the project.
“We once again request the PMC’s support for an approval of the necessary decisions for implementation of the project through a discussion on priority in the forthcoming meeting of the general body meeting of the civic body,” he said. He added that once the PMC gives necessary permissions for the project, which will be carried out on a Public Private Partnership (PPP) basis, the PSCDCL will begin the process of appointing a developer.

According to PSCDCL, this was the sixth communication to PMC related to the implementation of the ambitious project with the first letter being sent in October last year. It has been demanding the transfer of proposed land parcel with development and monetisation rights, approval on leasing and sub-leasing of land parcel for 60 years, waiver of upfront land premium towards lease and FSI premium on proposed land parcel and change in land use from the Public Semi-Public zone to commercial use for Transit Oriented Development zone.

The proposed transit hub in survey 26 1/A in Balewadi would come up on 10.84-acre of land and have a total of 19 lakh sq feet of construction which includes FSI available from TOD and incentive FSI from Green Building. In addition, there would be construction for 9.71 lakh sq feet for parking area for four-wheelers and two-wheelers. The location is adjacent to the national highway 48 on the eastern side, with direct access through two major roads Balewadi Road and Balewadi -Hinjewadi road to Pune city.

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The PSCDCL board of directors had, on June 14, approved the release of expression of interest to explore the feasibility and viability of the project and the access the market conditions.

The proposed Transit hub will be a state of the art mixed land use development, integrating public and private transport with adequate numbers of bus and paratransit bays to take care of inter-city, intra-city, para-transit demand, integration with the city Bus Rapid Transit (BRT) system, bus transit facilities for both inter and intra city services of PMPML, MSRTC and private operators, integration of proposed metro station as part of the proposed Shivajinagar – Hinjewadi corridor being developed by PMRDA, commercial development including high quality office, retail, hospitality and other facilities, multi-level car parking for commuters and other users of the development. Bus parking for around 80 buses, Parking for 1,942 four wheelers and 3,884 two wheelers, Commercial office space of around 17.5 lakh square feet, retail development of around 4 lakh square feet. In addition, the transit hub terminal would also have sufficient integration with the metro station proposed to be developed by PMRDA.

The total value to the PMC would be around Rs 600 crore, which includes construction of the transit hub facility at Rs 60 crore without incurring any cost to the civic body, Rs 200 to Rs 300 crore for the bidding value of land parcel which will be combination of upfront payment and lease payment over the life of the asset and Rs 280 crore from land premium.

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First published on: 19-07-2018 at 02:14:01 pm

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