PMC Approves Rs 2,634 Crore for HCMTR Land Acquisition Across 15 Areas From Bopodi to Dhanori
Pune Municipal Corporation has approved an estimated Rs 2,634 crore for acquiring nearly 4.98 lakh square metres of land across 15 locations for the proposed High Capacity Mass Transit Route (HCMTR), with the standing committee clearing the proposal on Wednesday following a CM-chaired review meeting that directed expediting the HCMTR and inner ring road projects. The land will be acquired in Bopodi, Aundh, Bhamburda, Erandwane, Kothrud, Hingne, Parvati, Munjeri, Wanawadi, Hadapsar, Mundhwa, Vadgaonsheri, Lohegaon, Yerawada and Dhanori under the Right to Fair Compensation Act 2013 and Section 126 of the Maharashtra Regional and Town Planning Act 1966. The district collector has directed PMC to deposit the full compensation amount at the final award stage rather than the standard 30 percent pre-notification deposit. Standing committee chairman confirmed that PMC will bear the acquisition cost for HCMTR within its jurisdiction as directed in the CM meeting minutes.
However, joint municipal commissioner and chief accounts officer confirmed that PMC is not expected to bear the entire Rs 2,000 crore plus financial burden alone with a Special Purpose Vehicle involving shared equity among the civic body, state government and central government being actively considered. The financial requirement will also be spread across different phases rather than paid as a single upfront amount. PMC is inducting three financial domain experts as part of its technical consultancy team to help structure funding including preparing RFPs, structuring loan conditions, working out fundraising and repayment mechanisms and assessing options like Viability Gap Funding and land monetisation. For a city that has watched the HCMTR remain on paper for years, the Rs 2,634 crore land acquisition approval combined with financial expert induction and SPV structuring represents the most concrete and funded step the project has ever taken toward becoming a physical reality on Pune's roads.
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