The Pune Metropolitan Region Development Authority (PMRDA) is considering implementing a transit-oriented development (TOD) charge similar to Mumbai's MMRDA, targeting new buildings near the Hinjewadi Shivajinagar Metro line to fund urban development. While some stakeholders question additional fees, PMRDA aims to balance developer profits with broader infrastructure enhancement, awaiting the outcome of Mumbai's pilot proposal.
.png)
The Pune Metropolitan Region Development Authority (PMRDA) is considering the implementation of a transit-oriented development (TOD) charge for new residential and commercial buildings situated in close proximity to the Hinjewadi Shivajinagar Metro line. Drawing inspiration from the Mumbai Metropolitan Region Development Authority (MMRDA), which has proposed a similar charge for projects near the Gundavali-Dahisar East Metro 7 line, the PMRDA aims to enhance urban development and infrastructure funding through this strategy.
Following the footsteps of its Mumbai counterpart, the PMRDA envisions introducing a TOD charge as a means to capitalize on the potential benefits that arise from real estate developments closely intertwined with public transportation networks. The MMRDA has already laid the groundwork for this concept by proposing such charges in relation to the Metro 7 line, albeit pending clearance from the urban development department. Chief Minister Eknath Shinde has shown a vested interest in this proposal, conducting a preliminary meeting to discuss its implications.
Deepak Singla, the Additional Commissioner of PMRDA, expressed that their plan would closely mirror that of the MMRDA once the latter secures approval. The specific charges to be levied and the distance thresholds between buildings and the Metro line will be defined subsequent to obtaining the necessary permissions. The envisioned system could potentially set a precedent for subsequent constructions along the Hinjewadi-Shivajinagar Metro line.
While developers traditionally reap financial benefits from projects situated around government infrastructure, the introduction of these supplementary charges is poised to redirect some of these gains back into the development of crucial urban amenities. This indicates a concerted effort to foster more comprehensive urban growth and to allocate resources for the overall enhancement of the region's infrastructure and services, as highlighted by an authoritative source.
However, not all stakeholders are share the same enthusiasm. A prominent builder based in Pune, occupying a senior role within a leading developer organization, expressed reservations regarding the introduction of further charges. The builder pointed out that a 1% Metro cess is already included in the stamp duty charge, and the imposition of additional fees could potentially be perceived as redundant. Concerns were also raised regarding the practical implications of these charges, as any financial burdens imposed on developers could ultimately be transferred to property buyers.
In summary, the PMRDA's contemplation of a transit-oriented development charge for new buildings in proximity to the Hinjewadi Shivajinagar Metro line is a strategic move inspired by the MMRDA's analogous proposal for the Metro 7 line. While awaiting formal approval, the PMRDA aims to synchronize its approach with that of the MMRDA. This ambitious endeavour is motivated by a desire to channel some of the economic benefits associated with real estate developments back into the broader urban development agenda. As discussions unfold and potential concerns are weighed, the outcome of this proposal will likely influence the future landscape of urban development in the Pune metropolitan region.
Advertisement
Facebook
Whatsapp
