The Housing and Urban Development Corporation (HUDCO) has sanctioned a loan worth ₹3,500 crore to the Pune Ring Road project involving ₹28,243 crore. The project will be completed in two phases with a cost of ₹10, 520 for land acquisition and ₹17, 723 crores to be invested in road construction activities. It is being executed by the Maharashtra State Road Development Corporation (MSRDC) and is expected to be completed by December 2025.
The first instalment of the loan is scheduled to be repaid within eight months and the remaining amount for the project will be generated from different financial institutions.
The 140-km long ring road project has been divided into the eastern and western zones, wherein the eastern zone comprises Maval and Kelawade while the western zone will include Bhor, Haveli and Mulshi talukas of the district. The acquisition of 395 hectares of land has to be carried out in 37 villages along Sinhagad road and the administration has completed the measurement of land in 36 out of the 37 villages, and preparations are underway for awarding compensation.