Pune Ring Road Project Speeds Up, Enhancing Suburban Real Estate
The long-awaited Pune Ring Road project has hit a major milestone, with 40% of its construction done by March 2025. Led by the Maharashtra State Road Development Corporation (MSRDC), the project has not only sped up regional connectivity but also sparked a big change in Pune’s suburban real estate markets.
Construction Progress and Timeline
- Length and Scope: The Pune Ring Road covers around 169–172 km, with a planned width of 110 metres. It will circle the city, linking key suburban areas and easing congestion on existing roads.
- Land Acquisition: Almost all land for the western and eastern sections has been secured, with 99% and 98% acquisition completed, respectively. This allows for smooth progress on all nine contracted segments.
- Completion Target: The project, valued at ₹42,711 crore, is set to finish by the end of 2027. Construction is happening in multiple zones including Wadebolhai, Khadakwasla, Sinhagad, Mulshi, Urse, Chakan, Hinjewadi, and Sortapwadi.
Impact on Suburban Real Estate Markets
The visible progress of the Ring Road project has become a driver for real estate investment in Pune’s suburbs. Areas like Wagholi, Manjri, and Pirangut have become hot spots for development and investment, offering several benefits for homebuyers and developers alike.
Key Suburban Growth Zones
- Wagholi: Wagholi has seen property values rise by over 20%, due to high residential demand and good connectivity
- Manjri: Fast infrastructure growth and better connectivity have made Manjri a hub for affordable and mid-range housing.
- Pirangut: Once a peripheral town, Pirangut is now seeing a boom in luxury and semi-luxury projects as infrastructure improves.
Surge in Property Values and Demand
- Residential Segment: Suburban apartment and villa prices have jumped by up to 25% in the past year, outpacing the city average.
- Commercial Sector: The promise of smooth connectivity is drawing businesses, retail outlets, and logistics facilities to the ring road area.
- Investor Sentiment: Both domestic and international investors are showing strong interest, expecting long-term appreciation as the ring road nears completion.
Outlook for the Future
With the Pune Ring Road project visibly advancing, suburban real estate is set for a steady upward trend. Experts predict that these areas will keep outperforming the broader city market as infrastructure keeps pace with development. The strategic positioning of these areas makes them attractive not only for homebuyers but also for businesses looking for expansion opportunities outside the busy city center.
As the project heads toward its 2027 deadline, the impact on Pune’s real estate landscape is becoming more and more clear, driving growth, investment, and transformation in once-overlooked suburban areas.