Riverfront facelift to bail out waterside property owners in Pune According...

Riverfront facelift to bail out waterside property owners in Pune

According to the riverfront development project nearly 625 hectare (1544 acres) of undeveloped land and 351 hectare (around 867 acres) of developed area currently lie within the blue and red floodlines.
Riverfront facelift

The blue line marks a ‘once in 25 years’ floodline, while red indicates a flood ‘once every 100 years’.

“Currently, development on these plots is restricted as they come under the no-development or green zone,” said a source close to the project, meaning there was a clampdown on property owners carrying out development in the zone.

“But once the project is complete,” the source continued, “these plots will be excluded from the floodlines. The properties or land can then be developed.”

Per sources, those executing the project have planned a number of initiatives to increase the carrying capacity of the river and so, reduce the threat of flooding.

“Removal of obstructions to the river water’s flow is one such solution,” the source said, “It will ultimately lead to changes in the floodlines.”

It’s not just private players. Removing curbs on the land will also benefit government bodies. The civic body / or the special purpose vehicle, which will implement the project, stands to gain through land development charges from property owners. These charges are bound to be high, as the aesthetic appeal of the area will increase once the project is completed.

“Phase I will be jointly financed by the Pune and Pimpri Chinchwad municipal corporations, and loans. Project completion will increase attractiveness of the land and jack up the rates. Land development, right from the fourth year, will finance Phase II expenditure,” the detailed project report (DPR) reads.

PMC official Shriniwas Bonala, the project coordinator, said: “Defining the new blue and red floodlines is a lengthy process. Permission from various departments and also state government is needed to implement the change,” he said, adding that a decision has yet to be taken on development charge rates. The money thus generated will be used for the project development, he said.

Environmentalists, however, have advised caution. “The project is not going to serve any larger public good. The focus should on making the river safer and cleaner, which is not the case. The emphasis is just on beautification,” said Sarang Yadwadkar, an environmentalist.

He warned that the initiative could escalate the threat of floods.

Groundwork on the project is expected to start by May. The project’s focus is on greenery and not real estate development, claimed the designers of the project.

The project will utilize 768 hectare (1,897 acres). Of that, 62 hectare (153 acre) will be used to develop public amenities, like gardens and playgrounds. Of the total area to be developed, 79% will be done with a green initiative, while the rest 21% involve engineering work.

Info – realty.economictimes