PMC to raise funds for HCMTR with premium FSI
To reduce congestion and ensure faster travel, the Pune Municipal Corporation (PMC) planned elevated HCMTR with speed of 50 kmph along with Bus Rapid Transits System (BRTS).
Pune: To reduce congestion and ensure faster travel, the Pune Municipal Corporation (PMC) planned elevated HCMTR with speed of 50 kmph along with Bus Rapid Transits System (BRTS). After more than a year, the PMC is now considering raising funds to construct the High Capacity Mass Transit Transport Route (HCMTR) with the help of premium FSI under Transit Oriented Development (TOD) policy.
TOD relates to metro railway and BRTS. TOD integrates land use and transport planning to develop compact growth centres within the influence zone of 500 to 800 metres on either side of transit stations.
For HCMTR, the financial consultant gave two options of charging toll on the route or giving instalments to the company for construction of the road for 25 years. However, the PMC has decided to take help of TOD policy. The PMC has estimated the project cost at Rs 6,646 crore. Last week, PMC Commissioner Saurabh Rao tabled a draft Rs 6,085 crore budget of 2019-20 in which he gave preference to HCMTR project and allotted Rs 211 crore in the budget.
The PMC Building Permission and Construction Department has tabled a proposal before the City Improvement Committee (CIC) to use TOD option to raise funds for the project.
The Department has proposed to give two Floor Space Index (FSI) along HCMTR which will generate premium FSI (FSI is the ratio of land area to built up area). It will allow builders to construct extra floor space against payment of a premium.
According to the Building Permission and Construction Department, it will generate revenue for construction of HCMTR.
PMC Road Department Additional Superintendent Engineer A Pawaskar said, “Building Permission and Construction Department has given TOD option to raise funds for HCMTR. It is a feasible option. Now, City Improvement Committee (CIC) will decide on the TOD proposal.”
The HCMTR is a six-lane road project with a centralised Bus Rapid Transit System (BRTS) of 37 km in length and 24 metres wide. Separate lanes will be made for heavy vehicles and four-wheelers with minimum 50 kmph speed. For the entire project, the PMC needs 68.03 hectares land. At present, it has 15 hectares of private land through Transfer Development Rights (TDRs).