Swargate, Pune, 14th February 2024: The Pune Municipal Corporation (PMC) has taken an unexpected turn in its decision-making, opting to permanently transfer a crucial 13,941 square feet plot at Swargate to Maharashtra Metro Rail Corporation Limited (Mahametro). Contrary to the original plan of leasing the land to Mahametro for a decade, the recent discreet decision, made during a standing committee meeting, involves a permanent handover in exchange for a sum of Rs 38 crore 54 lakh 57 thousand. This decision not only affects PMC’s revenue stream but also signifies the relinquishment of control over a significant plot.
The backdrop of this decision lies in the ongoing construction of the metro network in Pune, specifically 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, expected to become operational in the coming months.
Originally, when Mahametro initiated work on the underground metro station at Swargate, plans were devised 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.
As per 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.
