Maan Mahalunge Hitech City is the first of its kind town planning project undertaken by the Pune Metropolitan Region Development Authority (PMRDA). It is the first among the 45 town planning schemes that the PMRDA plans to implement in the future alongside the proposed Pune outer ring road.
What is Maan Mahalunge Hitech City?
Maan Mahalunge Hitech city will be a 700 Acre township that involves land acquisition from more than 6500 farmers in order to create a mega project.
Some facts regarding Maan Mahalunge Hi Tech City:
Total Area Covered: 250 Hectares
Planned Budget: INR 650 Crores
Projected Investment Potential: INR 21,300 Cr
Target Of Completion: 3 Years
Date Of Ground-Breaking: 15th November, 2018
*Source: Hindustan Times
This planned scheme is close to the city’s biggest IT hub, Rajiv Gandhi Infotech Park at Hinjewadi. The Government plan is to create world class infrastructure here with planned facilities that include concrete roads, drainage, schools, etc.
The previously planned date of commencement of work was supposed to be 10th February 2020 but the nationwide lockdown that was imposed on account of the Covid-19 pandemic, slowed down the work.
How this will impact the Pune real estate market
We believe that the Maan Mahalunge Hi Tech city will definitely drive a sense of positivity in the real estate market in Pune. The citizens are always looking out for good infrastructure in their vicinity. With a project of this scale, it will surely be a coveted residential and commercial hub.
Moreover, the location of this town planning project is excellent. On one side is the biggest IT hub of Pune and on the other side is one of the most sought after residential and commercial hubs of the city like Baner, Balewadi, Wakad, Pashan & Bavdhan.
The location is blessed with a lot of greenery and abundant water supply which makes it a very pleasant environment to live in. It is also located on the Mumbai-Bengaluru bypass that will make it easy for people to commute to other locations in Maharashtra easily.
Another positive impact of this project will be that the working professionals will reduce their commuting time as their offices will be close to their homes, thus reducing costs and pollution.
Current Status Of Maan Mahalunge HiTech City
The current status of this project is that the land acquisition is still not finished and that is the one of the reasons why the work has not started in full swing. We hope that whatever hurdles are being faced are sorted out soon.
(Also Read: What is the difference between PMC and PMRDA?)