The beautiful and modern city of Pune is one of the fastest-growing cities in India and has witnessed a surge of development in the last few years and continues to grow despite the uncertainties COVID-19 brought along. Owing to its beautiful weather and abundance of greenery creates an environment that welcomes people of all age groups and backgrounds to live peacefully in this lovely city. Pune stands strong as a world-renowned educational hub and hosts a vast job market. With the recent developments in the IT, automobile, and other industries, Pune has attracted several job-related and education-related migrations from all over India that have increased the demand for better real estate options. The physical and social infrastructure of Pune is wonderfully built. It accommodates a reflection of the rich cultural heritage of the city along with the new modernized vibe that makes Pune what it is today.
About Pune Ring Road
The idea to build the Pune Ring Road was originally conceptualized in 2007, with the purpose of boosting the connectivity in the city and its suburban areas. However, the lack of funding led to the project being postponed. In a recent development, the government of Maharashtra approved a budget of INR 26,831 crore for the construction and land acquisition of the 173-km-long Ring Road. It involves the acquisition of around 1554.64 hectares of land for the completion of the project. The circular, 173-km route of the road, is not only expected to improve the poor commuting conditions across the city but is also going to open investment avenues in 29 real estate markets that lie along the approved alignment of the Ring Road.
Impact of the Pune Ring Road
The construction of Pune Ring Road will result in a reduction in the overall traffic and will facilitate commute within the city. The vehicles traveling to areas like Saswad, Nashik, Ahmednagar, Konkan, and Mumbai pass through Pune which causes traffic congestion and leads to excessive air and noise pollution. The proposed Ring Road is anticipated to reduce pollution by about 25% and boost socio-economic development in the region. Once the road is operational, the micro-markets along the Ring Road are likely to come up as housing hubs owing to the easy connectivity across the city. This could, in turn, cool down the high property prices of the major hubs of the city like Koregaon Park, Kalyani Nagar, and Viman Nagar. The project would improve road connectivity in Pune and would significantly reduce the travel time and the distance to the neighbouring cities as well.
At Pyramid Lifestyle, along with setting trends in the residential and commercial market of Pune, we also like to educate our audience with the latest developments in the ever-growing city of Pune. Our projects are a true reflection of purity and precision in all aspects of their construction. They are thoughtfully placed in the most active parts of the city, ensuring a convenient stay and good returns on your investment. Visit www.pyramidlifestyle.com to know more about our projects and get in touch with us!