Pune’s Strategic Land in Limbo: PMC’s Unusual Decision Benefits Mahametro Permanently
Swargate, 14th February 2024: In an unexpected twist, the Pune Municipal Corporation (PMC) has altered its previous decision to lease a 13,941 square feet plot at Swargate to Maharashtra Metro Rail Corporation Limited (Mahametro) for a decade. Rather than continuing with the initial plan, a discreet decision was made during a recent standing committee meeting to permanently transfer the crucial plot to Mahametro in exchange for a sum of Rs 38 crore 54 lakh 57 thousand. This decision not only impacts PMC’s revenue stream but also signifies the relinquishment of control over a significant plot.
The context for this decision lies in the ongoing construction of the metro network in Pune, particularly the near-completion of two routes – Vanaj to Ramwadi and Swargate to Pimpri-Chinchwad. As part of the Swargate to Pimpri-Chinchwad route, an underground metro station has been established at Jhe Chowk in Swargate, anticipated to become operational in the coming months.
Initially, when Mahametro started the work on the underground metro station at Swargate, plans were in place to create a transport hub integrating PMPML, ST station, and commercial networks. The land at Swargate Chowk, owned by the Water Supply Department, was leased to Mahametro in 2021 for approximately 13,941.94 sq.m.
According to PMC’s seat allotment rules, the annual rent was fixed at 12 % of the Ready Reckoner rate by a committee established on January 17, 2023. With a 10-year lease term, PMC stood to earn over 5 crores annually, with provisions for rent adjustments based on recalculated rates.
However, a recent decision by the Standing Committee on February 8, supported by the General Assembly, has paved the way for the permanent transfer of this land to Mahametro. The agreed-upon amount is Rs 39 crore 54 lakh, sourced from the funds owed to PMC. An agreement is expected to be formalized between PMC and Mahametro, subject to the approval of the Maharashtra State Government.
