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Pune Ring Road Connectivity- Impact on Real Estate Growth in Pune

by Ashiana / / 4511 views/ Reading Time: 6 minutes

Introduction


The Pune Ring Road plans to revolutionize connectivity across the city, transforming real estate dynamics and driving significant growth. It envisions a 173 km stretch connecting key highways and arterial roads, enhancing accessibility to peripheral areas and fueling infrastructural development. This blog will delve into how the Pune Ring Road is set to impact Pune’s real estate market, discussing the phases, development timelines, and long-term implications.

The ambitious Pune Ring Road project is undertaken by Pune Metropolitan Region Development Authority (PMRDA) with an estimated budget of INR 17,000 Crores. PMRDA will bear 1/4th of the cost of the project, while the central government will contribute 3/4th of the cost. Establishing the Ring Road will play an important role in town planning and ease commutes for everyone. Furthermore, the Pune Ring Road will be connected across major highways, connecting 29 villages around the city, creating a nexus of opportunity for everyone, especially in the real estate sector.

Pune Ring Road Connectivity- Impact on Real Estate Growth in Pune

Pune Ring Road: Map, Route, and Connectivity


The 173-km long Pune Ring Road is set to transform the city’s commuting experience, easing traffic and improving access to different parts of Pune. Besides reducing congestion, the Ring Road is expected to unlock investment opportunities in 29 real estate markets along its route. These emerging areas could develop into new housing hubs, providing excellent connectivity to the rest of the city. This would also stabilize property prices in popular areas like Kalyani Nagar, Koregaon Park, Viman Nagar, and Magarpatta.

The Ring Road will link six major highways passing through Pune, enhancing connectivity across the region:

  • Pune-Bengaluru Highway (NH-48)
  • Pune-Nashik Highway (NH-60)
  • Pune-Mumbai Highway (NH-48)
  • Pune-Solapur Highway (NH-65)
  • Pune-Ahmednagar Highway (NH-753F)
  • Pune-Saswad-Palkhi Marg (NH-965) 

To ensure smooth access to these highways, authorities have proposed two ring roads. The 173-km road will be built by MSRDC, while another will be managed by PMRDA.

Pune Ring Road Connectivity- Impact on Real Estate Growth in Pune
Image Source: Homebazaar

For more details, you can visit the official PMRDA website to view the Pune Ring Road map. 

Four Phases of Pune Ring Road


The Maharashtra State Road Development Corporation (MSRDC) has outlined the development of the Pune Ring Road in four phases, which will include multi-level interchanges, bridges, viaducts, tunnels, and multiple roadways over bridges for efficient traffic management. The Pune Ring Road is developing in these 4 phases to ensure efficient construction and timely delivery, opening new corridors of connectivity that provide direct access to essential parts of Pune. 

  • Phase 1: This phase will cover the western parts of Pune, connecting Mumbai-Pune Highway with key industrial zones.
  • Phase 2: This will extend the connectivity to the southern zones of the city, focusing on linking NH4 and important Pune ring road villages list, ensuring rural areas also benefit from this project.
  • Phase 3: The eastern parts of Pune, including Hadapsar and Wagholi, will be connected to important IT hubs, boosting commercial development.
  • Phase 4: The final phase will complete the loop, connecting NH9 with Pune-Nashik Highway and optimising the traffic load distribution.

Phase Stretch Details Length
Phase 1 Pune-Satara Road to Pune-Nashik Road Theurphata – NH 9 – Kesnand – Wagholi – Charholi – Bhavdi – Tulapur – Alandi – Kelgaon – Chimbli – NH 50 46 km
Phase 2 Pune-Alandi Road to Hinjewadi Road NH 50 – Chimbli Moi – Nighoje – Sangurde – Shelarwadi – Chandkhed – Pachne – Pimploli – Rihe – Ghotawde – Pirangutphata 48 km
Phase 3 Hinjewadi Road to Pune-Shivane Road Pirangutphata – Bhugaon – Chandni Chowk – Ambegaon – Katraj 21 km
Phase 4 Pune-Shivane Road to Pune-Satara Road Ambegaon – Katraj – Mangdewadi – Wadachiwadi – Holkarwadi – Wadkinaka – Ramdara – Theurphata – NH 9 11 km

Each phase brings new real estate opportunities, especially along the Pune ring road route. For the first phase, 24% of the required land has already been acquired, with a budget of ₹518 crores. The PMRDA has allocated ₹300 crores so far. The project will require around 1,430 hectares of land in total and will include six bridges, eight flyovers, three road over-bridges, and a 3.75-km tunnel.

Pune Ring Road Connectivity- Impact on Real Estate Growth in Pune

Impact of Pune Ring Road on The Real Estate Sector


The Pune Ring Road is set to change the game for Pune’s real estate market. The road’s strategic connectivity will directly impact several factors, including housing demand, land prices, and commercial growth. Here’s how:

New Commercial Zones


The Pune Ring Road will unlock several new commercial zones, creating hubs for business parks, retail centres, and office spaces. This development is especially beneficial for IT and industrial sectors seeking larger office spaces with excellent road map connectivity in the outskirts of Pune.

Improved Connectivity


The Pune Ring Road route will connect all the major highways, such as the Mumbai-Pune Expressway, NH4, and NH9, making peripheral areas of Pune more accessible. This route optimization map will facilitate smoother traffic flow and significantly reduce travel time as Pune expands. Key areas such as Talegaon, Chakan, Wagholi, and Hinjewadi will benefit immensely.

Infrastructure Development


The MSRDC Pune Ring Road Map plans to develop smart infrastructure such as flyovers, underpasses, and bypasses to handle the increase in vehicular traffic. This forms a part of a broader road map of Maharashtra that aims to enhance urban connectivity and support the growth of peripheral areas.

Value Appreciation


The Pune Ring Road is expected to directly impact property values. Once remote areas will transform into prime real estate, attracting investors and homebuyers. This new ring road map in Pune will uncover areas with high potential for future development, especially in the commercial and residential sectors.

Pune Peripheral Area Development


Villages like Lonikand, Koregaon, Pimpri, and Wagholi, part of the Pune Ring Road Villages List, are already experiencing infrastructural growth. These previously underdeveloped regions will witness improved road connectivity, leading to the development of new residential and commercial properties, schools, hospitals, and retail spaces.

When will Pune Ring Road be ready?


The Pune Ring Road project is expected to be completed by 2027. However, residents and businesses may start reaping the benefits of improved connectivity sooner, as the first two phases will likely be completed around 2025.

Pune Ring Road Connectivity- Impact on Real Estate Growth in Pune

Pune Ring Road: Current Status, Latest News and Progress Report


As per the latest updates in February 2024, the Maharashtra government had allocated ₹10,519 crores for land acquisition for the Eastern Phase of the Pune Ring Road, with the process expected to be completed by June 2024. Delays in the land acquisition for the western stretch, due to farmer protests over compensation, have delayed the project’s start. The entire Pune Ring Road project, estimated to cost over ₹17,000 crores, is expected to take 30 months to complete and will be divided into nine construction packages.

The Maharashtra State Road Development Corporation (MSRDC) will acquire land from 32 villages across four talukas, with landowners being compensated at five times the market value. Around 1,740 hectares of land will be acquired, of which 1,601 hectares is private land. Approximately ₹11,000 crores have been allocated for land acquisition, and the state has secured a ₹35 billion loan from HUDCO for the project.

Land measurement work has been completed for most of the villages involved, and compensation of ₹3,385 crores has been approved for the first phase of the project. The COVID-19 pandemic caused some delays, but efforts have since been accelerated.

In addition to the ring road, MSRDC is planning further projects to enhance Pune’s connectivity, including a new expressway to Nashik starting from the Pune Ring Road and a 268-km expressway between Pune and Aurangabad, which is expected to reduce travel time between Pune and Nagpur significantly.

Conclusion


The Pune Ring Road is set to change the game for the city’s infrastructure and real estate landscape. The ring road will reshape growth patterns in Pune by significantly improving connectivity, reducing travel times, and opening up new commercial and residential areas. As development progresses, previously ignored peripheral areas will experience a surge in demand, leading to property value appreciation and better infrastructure. With the completion of the Pune Ring Road on the horizon, now is the perfect time for investors and homebuyers to explore emerging real estate opportunities along the route, positioning themselves to benefit from Pune’s next growth phase.
Tags: real estate, ashiana housing,
Category: Real Estate, Investment,

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Q1. What is the current development of the New Ring Road Pune?

The New Ring Road Pune project is progressing. 90% of the land for the western phase has been acquired. Initial construction has begun, and the road is expected to be completed by 2027. It aims to improve connectivity and boost real estate growth in Pune’s peripheral areas​.

Property rates near the new Pune Ring Road range from ₹25 to ₹50 lakh for 2 BHK flats in areas like Wagholi and Hadapsar. For 3 BHKs, prices vary between ₹50 lakh to ₹1.5 crore depending on the locality and its infrastructure.

Construction work for Pune’s new Ring Road is set to start in January 2024. This major infrastructure project is expected to improve connectivity by linking various highways and bypassing traffic-congested areas. Land acquisition is already well underway, with nearly 60-90% of the necessary land procured in key regions. The first phase of construction will focus on the western stretch.

The new Pune Ring Road covers several key areas and villages around Pune. It stretches approximately 170 km and is divided into eastern and western zones. Some of the major areas it passes through include:

  • Western Zone: This zone covers regions like Khed Shivapur, Khadakwasla, Hinjewadi, Baner, and Wakad and connects the Mumbai-Pune Expressway.
  • Eastern Zone: This includes areas like Hadapsar, Wagholi, Lonikand, and Koregaon, which are linked to IT hubs and industrial regions.

The new ring road in Pune is expected to benefit several key areas by improving connectivity and reducing traffic congestion. Areas that will likely see the most benefit include:

  • Hinjewadi: As one of Pune’s prime IT hubs, Hinjewadi will gain smoother access to other parts of the city, making it even more attractive to professionals and businesses.
  • Wagholi: Located on the eastern side of Pune, Wagholi will see better connectivity to the city’s central and western areas, boosting its appeal for residential and commercial developments.
  • Baner and Balewadi: These rapidly growing residential and commercial areas will benefit from faster commutes and reduced traffic, enhancing their value for real estate investment.

About The Author

Ashiana, Ashiana Housing build homes. Homes surrounded by vast green spaces and fresh breeze. Homes cocooned in secured gated complexes. Homes where futures are forged and there are opportunities to grow. And Homes in environments brimming with healthy activity, trust and respect. At heart, we build communities with care.

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