Officials further said MahaMetro was in the process of finalizing the details of the project, which will be executed in two phases. The first phase will involve construction of an underground Metro station, parking lots, a PMPML bus station, and bays for vehicles like autorickshaws and app-based taxi services. It is estimated to cost Rs200 crore.

Work will begin on a plot of land owned by PMC’s water department, located near Swargate chowk on the road to Sarasbaug.

MahaMetro said the PMPML’s existing bus terminus at Swargate will have to be shifted to an alternative location and that talks were underway with Pune Municipal Corporation and PMPML to shift it to an open plot in the vicinity.

The bidding process will be done over the next few days, after which the work will start.

“The transport hub is essential to reduce traffic problems in Swargate and Jedhe Chowk areas, which daily witness daily traffic 1.5 lakh vehicles and peak-hour frequency of 10,000 vehicles,” MahaMetro chief Brijesh Dixit said while addressing a press conference.

Twenty-three acres of land will be needed for the project, of which the 7.5 acres required for the first phase are in MahaMetro’s possession. The plan also includes provision of two roads the movement of buses, Dixit said.

MahaMetro also plans to allow commercial activity by increasing the number of floors of the hub. Plans will be firmed up later, jointly with PMC, MSRTC and PMPML.

Officials also said there will be no immediate impact on traffic as work has first been planned in a closed-off area near Jedhe chowk.