Pune Metro has decided to develop and operate a retail and commercial complex above the Swargate Metro station, one of Pune’s busiest transport hubs, on a Public-Private Partnership (PPP) basis. The meticulously planned project unfolds in two phases.
In phase 1, Pune Metro will construct the Swargate Metro station itself. In phase 2, they will develop a retail, shopping, and commercial complex above the station. As part of the Pune Metro Rail Project (PMRP), Pune Metro has already built a bare-shell structure on the designated land parcels for both phases. Under the Transit Oriented Development plan, they are developing a land parcel of about 17,000 SqM at Swargate. The station will smoothly integrate with bus services, private vehicles, and pedestrian access.
Pune Metro will partially develop a civil structure on the site, including immovable assets and a multi-storied building. The building will have six floors above ground, two basement parking levels, and upper and lower concourse level property spaces and parking. The total area will be approximately 77,373 SqM.
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The development of Metro services will boost commercial activities due to increased footfall from commuters, making the site attractive for property development. Pune Metro will then hand over the project to the selected bidder on a long-term license basis. The bidder will be responsible for additional finishing and completion works necessary for marketing, operation, and maintenance of the project for thirty years, extendable by another thirty years.
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Disclaimer: The information herein is based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. Furthermore, The image featured in this article is for representation purposes only. It does not in any way represent the project. If you wish to remove or edit the article, please email editor@biltrax.com.
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