Pune, 10th November 2024: In a major development, a Netherlands-based financial organization, ATAL, has exchanged a term sheet worth ₹600 crore for the Maharashtra Police Mega City (MPMC) project in Lohgaon Pune. This investment will revive the stalled housing initiative that has been on hold for over a decade.
The term sheet, facilitated by Rural Enhancers’ Ambar Ayade and backed by Deputy Chief Minister Devendra Fadnavis, is a significant step towards completing the project. This investment initiative, coordinated by Ambar Ayade, has been in the works for the past year, with the support of the state government.
Deputy Chief Minister Devendra Fadnavis played a crucial role in attracting foreign investment through the FDI office, providing the necessary trust and confidence to foreign institutions. Fadnavis expressed his satisfaction with the investment, stating that the project will now be completed on time without any financial risks.
The term sheet was signed between Atal Consulting BV Netherlands and MPMC officials, marking a milestone in the project’s revival. With this investment, 5,500 police personnel will soon have their own homes, bringing relief to those who have been waiting for years.
The MPMC project, which was launched in 2010 to provide housing for police personnel in Pune’s Lohegaon area, was stalled in 2016 due to financial constraints. With this new investment, the project is set to move forward, providing homes for police personnel who have already paid for their dream homes.
Key features of the Mega City Project include a ₹600 crore ECA-based foreign direct investment, facilitated by Rural Enhancers and supported by the state government. The project aims to provide housing for 5,500 police personnel and 160 shops, with complete insurance cover to ensure completion without financial risks.
Chairman of the Maharashtra Police Mega City Corporation, Bharat Kumar Rane, expressed satisfaction with the progress of the project under the guidance of Deputy Chief Minister Devendra Fadnavis. Plans are underway to allocate homes to all flat holders at their original prices, bringing hope to those who have been waiting for their homes for years.
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