New Airport In Pune Will Not Just Boost Connectivity  

It has been over a decade since authorities had come up with a plan to develop a new airport in Pune — the cultural capital of Maharashtra already has one airport in Lohegaon. With Chief Minister Devendra Fadnavis giving his approval, the city is all set to get a new airport at Purandar. The proposal site already has the approval from the Airports Authority of India (AAI)."The site is around 15-20 km away from Pune city. Located

"The site is around 15-20 km away from Pune city. Located in the south of the city, the proposed airport will be connected with six different routes including national highways 4 and 17. There will be a special ring-road connecting major industrial establishments with the proposed airport from Hadapsar. The proposed airport will have two airstrips, each having a length of four kilometres. It will handle cargo along with passenger traffic," a report by The Economic Times quoted Fadnavis as saying.

“Most of the farmers have expressed their willingness for the project (at Purandar). The farmers whose land will be acquired for the project will become partners in the airport developing company which will ensure some steady income for them. This model has been used in the state earlier for land acquisition of the (proposed) Navi Mumbai International Airport,” Fadnavis added.

Watch: Pune To Get An International Airport

Spread over 2,400 hectares, the upcoming airport will be a major boost for the connectivity of the city, apart from pushing up the property value and generating employment for thousands.

“Pune used to be one of the best cities to live years ago. However, with more and more people flocking to the city and illegal constructions mushrooming, there has been a degradation in property market value. The city is on its way to lose its uniqueness and old-world charm it was famous for,“ said Amit Lal, 37, who works in a Pune-based IT company.

This could have also been a reason why property markets in Pune have been witnessing a lackluster performance. According to a PropTiger DataLabs report for the first quarter of the financial year 2016-17, homes sales saw a quarterly increase of only seven per cent. Given the fact that Pune has consistently been among the best performers, these numbers are not very encouraging. This also indicates that authorities will have to make changes if they want the property markets of the city to keep performing well in future. A new airport is certainly a good way to do so.Property prices near the proposed site are likely to go up and will give

Property prices near the proposed site are likely to go up and will give good return on investment in future. This is likely to trigger investor and home buyer interest in Pune real estate.