Pune Nov 12 (FN Bureau) A Netherlands-based financial Dutch State Business organization ATAL has exchanged the term sheet worth Rs 600 crores for the Maharashtra Police Mega City (MPMC) project, Lohgaon Pune, reviving the housing initiative stalled over a decade. This significant indicative term sheet of investment is being facilitated by Rural Enhancers’ Ambar Ayade and backed by Deputy Chief Minister Devendra Fadnavis, through the FDI chief of the state and joint secretory Kaustubh Dhawse, this efforts will finally help in completing the project, said release today.
The investment initiatives were facilitated by Ambar Ayade, who has coordinated with the state government to expedite the funding commitments over the last year for this stalled project at Lohgaon Pune. Deputy Chief Minister Devendra Fadnavis played a crucial role in attracting foreign investment through his office of the FDI by providing the required trust and confidence to foreign institutions. This MPMC project, launched in 2010, aimed to provide housing for police personnel in Pune’s Lohegaon area which has 5248 flats and approximately 170 shops However, it was stalled since 2016 due to financial and other constraints of the Developer and eventually the matter went into the court of the law.
With this promise of investment cover, the project will see the light in the tunnel by providing relief to police personnel who had already paid 270 crore for their dream homes but got nothing so far. The president of the Police Housing Society, Bharat Kumar Rane along with India’s head of operations and projects of the Atal Consulting BV Anil Kuppa were present yesterday at Hyatt Hotel Pune Viman Nagar, MD AND CEO of Atal Consulting, Han Bartelds where present through video call throughout along with Ambar Ayade of REL, said release.