Pune: The proposed ring road project of Satara road to Ahmednagar road, the Pune Metropolitan Region Development Authority is all set to float tender for a 30 km stretch.
The tender for the project will be floated this week and contractors finalised before the end of this year, stated PMRDA authorities. The stretch has three tunnels, three railway lines over bridges and one bridge over the river.
The estimated budget for the overall 128-km ring road is Rs 13,315 crore. With an Rs8, 700 crore loan sought from Japan International Cooperation Agency (JICA) yet to arrive, PMRDA has sought an Rs1, 000 crore loan from banks.
The town planning scheme is primarily a land pooling system which will ensure that the farmers get back 50% of developed land in their respective plots. PMRDA will ensure necessary infrastructure work, while some land will be reserved for auction to generate funds.
With town planning schemes having received a good response, PMRDA plans nearly four to five such schemes along the ring road to generate funds for the project.