Pune clears Rs 2,634 crore for HCMTR land acquisition

The 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).

The land acquisition proposal was approved on Wednesday by the civic standing committee.

The land will be acquired in Bopodi, Aundh, Bhamburda, Erandwane, Kothrud, Hingne, Parvati, Munjeri, Wanawadi, Hadapsar, Mundhwa, Vadgaonsheri, Lohegaon, Yerawada and Dhanori.

The move follows a recent review meeting chaired by chief minister Devendra Fadnavis, which directed authorities to expedite the HCMTR and inner ring road projects.

At a subsequent meeting at the district collector’s office on August 28, the PMC was directed to submit its land acquisition proposals by August 31. The civic body has since forwarded the proposals to the collector’s office.

The acquisition will be carried out under the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013, and Section 126 of the Maharashtra Regional and Town Planning Act, 1966, according to a statement issued by the PMC.

Under the 2013 law, 30 per cent of the estimated compensation is generally required to be deposited before issuing the Section 19 notification. However, the district collector has directed the PMC to deposit the full compensation amount at the final award stage.

Standing committee chairman Shrinath Bhimale said the PMC would have to bear the acquisition cost for the HCMTR within its jurisdiction.

“According to the minutes of the meeting chaired by the chief minister, the concerned agencies have been directed to undertake land acquisition within their respective jurisdictions and bear the associated cost. Therefore, the PMC will have to bear the land acquisition expenditure for the HCMTR within its jurisdiction,” Bhimale said.

Ulka Kalaskar, joint municipal commissioner and chief accounts and finance officer (expenditure), said the PMC would induct three financial experts to help structure funding for major infrastructure projects.

“We are inducting three financial domain experts as part of the technical consultancy team. They will act as a support system for the civic administration by assisting in preparing RFPs, structuring loan conditions, and working out fund-raising and repayment mechanisms. They will also assess options such as VGF and land monetisation,” Kalaskar said.

Kalaskar said an estimated Rs 2,000 crore was required for land acquisition, but the PMC was not expected to bear the entire amount.

“The financial requirement will not necessarily have to be met by the PMC alone. An SPV model with shared equity among the local, state and central governments is being considered. The requirement will also be spread across different phases instead of being paid as a single upfront amount,” she said.