Pune Metro to Build Major Retail and Commercial Hub Above Swargate Station
Pune Metro to Build Major Retail and Commercial Hub Above Swargate Station
Pune city is a hub for development and urbanization and the Pune Metro plans to build and operate a retail and commercial complex above the Swargate Metro station through a Public Private Partnership (PPP). The city’s urbanization and metropolitan vision are expected to boost commercial activities by attracting more commuters, making the site appealing for property development.
Let’s understand this in detail:
The project initiated is divided into 2 prominent parts/ phases. The first phase is the construction of the metro station and the second phase is the development of the commercial complex above the station. As part of the Pune Metro Rail Project, Pune Metro has constructed a structure that is not yet furnished, and a tender for the full construction and development has been floated.
Hemant Sonawane, executive director, public relations and administration reported that the tender was floated in March and it will close on July 16 and will be opened on July 18. He also said that they are waiting for a good base shell price. As part of the Transit Oriented Development Initiative, Pune Metro is preparing a plot of approximately 17,000 square meters at Swargate. The metro station is planned to seamlessly connect with bus services, private vehicles and pedestrians for greater comfort and convenience.
On the other hand, if we talk about Swargate then, its connectivity routes make it a prime location and the development of the commercial complex includes a multi-storied building with 6 floors and extensive parking and commercial space. It will sum up to almost 77,373 square meters. It will be completed by a selected bidder responsible for its operation and maintenance for up to 60 years.
