It has been over a decade since the authorities planned to develop an international airport in Pune. The wait is soon going to be over as Maharashtra Chief Minister Devendra Fadnavis has announced the beginning of Pune International Airport’s construction. The airport would be located in Purandar region of Pune and would be named after its great Maratha warrior, Chhatrapati Sambhaji Raje. This international airport project will un-box numerous benefits in the coming years and would be a great blessing to the Pune real estate sector. Let’s take a sneak peek into the proposed project and gather more information about it.
Some Quick Facts About C.S.R International Airport
Here’s a quick look at the facts of the upcoming international airport in Pune:
- The airport will span a complete area of 2,400 hectares. It encompasses seven talukas in Purandar tehsil
- It is located 40 km north of the city of Pune
- Post-construction, it will assist in diverting the excessive air traffic from Lohegaon Airport
- The proposed airport is said to have 2 airstrips for a smooth take-off
- The construction of metro is proposed from Bhosari to the new airport. The construction of the first phase has commenced
- The estimated cost of this project is INR 14,000 crore. The actual cost will be known once the statistics are finalized
- The project for this project is managed by Dorsch, a German consulting company
The Take Off
The government of Maharashtra has chosen Purandar as the place for the construction of the new international airport. Initially, Chakan was chosen as the location for the airport but due to some opposition by the local farmers, the government had to shift to Purandar. The airport would spread across an area of 2,400 hectares. With an international airport in the city, the surrounding regions will experience a facelift. Demand for quality housing and world-class infrastructure would increase in and around the Purandar region in Pune.
The Maharashtra government has also planned to connect the Chhatrapati Sambhaji Raje International Airport to different parts of the city via metro network. Metro would connect the airport to Bhosari region in Pune. It would pass through the areas of Moshi and Chakan. The metro connectivity, along with the international airport would provide seamless connectivity to the people. This, in turn, would further encourage the real estate demand in the area.
A proposal is also passed for the construction and expansion of the ring roads around the international airport. These roads will connect the international airport with the major industrial hubs in Pune, thus triggering international commerce in the areas. Commercial real estate demand would also increase in Pune as a result of these infrastructural developments. Businesses would invest more in industrial hubs like Talegaon, Chakan, and PCMC as they would provide better international trade opportunities.
The Major Expectations
The construction of Chhatrapati Sambhaji Raje International Airport is estimated to be completed by 2022-23. By the end of this five-year tenure, this airport will bring noticeable changes in the city. First of all, it will assist to divert the increasing rush of the air traffic faced by Lohegaon airport. Secondly, it will open doors to international business prospects, thus boosting Pune’s corporate sector.
The Future of Real Estate In Pune
Post construction of the international airport, the real estate sector of Pune will grow quickly. It will entirely transform the real estate of the adjoining areas. The high demand for the residential townships and other infrastructural development is likely to unlock the doors of Pune real estate. In other words, the construction of the airport will make the demand for residential and commercial properties touch skies.
On An Ending Note…
The construction of Chhatrapati Sambhaji Raje International Airport will be beneficial for Pune real estate. As per the proverb ‘Rome was not built in a day’, the changes will take time but they will be worth at the end. So, let us wait for the forthcoming years of comfort and benefit after the inauguration of Chhatrapati Sambhaji Raje International Airport.