Mass transit project moves into fast lane

PUNE: Politicians have given a green signal to allot transfer of development rights (TDR) against land acquisition for the long-pending High Capacity Mass Transit Route (HCMTR) project recently. The move may spell good news for the real estate market in the city.
The decision was taken at Pune Municipal Corporation's (PMC) general body meeting on Friday.
"The move will speed up the process of land acquisition for this project.Development TDR will provide momentum to the land acquisition process. People who own land and wish to develop it will benefit the most," a corporator said. Other elected members across party lines were also of the same view.
A civic official said if a construction firm wishes to develop part of the HCMTR, it will get development TDR that can be used in other projects.
The nearly 34km-long and 24-metre wide road proposed in the 1987 development plan, is yet to see the light of day. The municipal authority has so far acquired only 30% of the land and completed only 60% of the markings on the route.
The mass transit corridor will pass through several areas including Hadapsar, Mundhwa, Salunkhe Vihar, Market Yard, Parvati, Vishrantwadi and go up to the airport. It will help reduce congestion on existing roads.
The civic body will have to acquire land from private owners for a 16km section, while a 3.88km stretch of the route passes via land owned by the irrigation department. Civic officials said the TDR will be allotted for commercial and residential zones.
As per primary estimates, around 8 crore sq ft TDR will be available for development in the city. The proposal was okayed by the standing committee in 2015.
The HCMTR is a land route earmarked under the development plan of 1987 for swift movement of public transport vehicles and a rail corridor. The civic body is planning to develop a nearly 34km route under this project.