Rs. 41, 000 crore worth of projects has been announced for Maharashtra. Connectivity will be boosted with several new metro corridors being built by the Indian Government. There will be the Thane-Bhiwandi-Kalyan metro 5 corridor along with the Dahisar-Mira Bhayander metro 9 corridor at Kalyan and the Pune Metro Phase 3 project will also be started soon.
There will be a metro network between Hinjewadi and Shivajinagar which will be executed by the PMRDA (Pune Metropolitan Region Development Authority) via the public-private partnership model. This metro line will span 23 kilometres and will be built for Rs. 8, 313 crore as per estimates. This will connect the IT hub of Pune with Shivajinagar where two other metro routes will also intersect.
A mass housing scheme is also on the cards worth Rs. 18, 000 crore. This is a scheme formulated by CIDCO (City and Industrial Development Corporation) of Maharashtra, the authority of town planning in Navi Mumbai. The housing scheme will cover around 90, 000 affordable housing units which will come under the PMAY (Pradhan Mantri Awas Yojana). Affordable housing is estimated to be the major growth driver for the Mumbai real estate market in the near future. Navi Mumbai, for instance, has several affordable housing projects being developed like Arihant Anaika at Taloja, Arihant Clan Aalishan at Kharghar and Neelkanth Krupa at Karanjade to name a few.
