Pune: A Netherlands-based semi-government organization has invested ₹600 crore in the Maharashtra Police Mega City (MPMC) Corporation project, reviving the stalled housing initiative. This significant investment will complete the project, facilitated by Rural Enhancers' Ambar Ayade, who coordinated with the state government to secure funding, and backed by Deputy Chief Minister Devendra Fadnavis, who played a key role in attracting foreign investment.

The investment agreement was signed between Atal Consulting and MPMC officials, marking a major milestone in the project's revival. The agreement signing event took place on Saturday at Hotel Hyatt Regency in Pune. Shrihan Batle, Managing Director of Atal Consulting Netherlands, joined via video call, while Anil Kumar Kuppa, Project Manager of Atal Consulting India, Ambar Ayade, the head of Rural Enhancers, and Bhartkumar Rane, the President of MPMC, were present at the occasion.

The MPMC project launched in 2010, aimed to provide housing for police personnel in Pune's Lohegaon area. However, it has been stalled since 2016 due to financial constraints. With this new investment, the project will now be completed, offering relief to police personnel who had already paid ₹270 crore for their homes.

Ambar Ayade said, "The project, spread over 117 acres, consists of 5,248 homes and 160 shops for police personnel in Maharashtra. It has been stalled since 2012. For the homes of police personnel, Deputy Chief Minister Devendra Fadnavis took a personal interest. The State Government's FDI Head and Joint Secretary, Shri Kaustubh Dhavse, entrusted me with the responsibility of bringing in investment from international financial institutions for the MPMC project. On September 8, 2024, an investment ceremony took place at the Government Residence in Mumbai, attended by institutions from the Netherlands and the Deputy Chief Minister's office. With the guidance of Hon. Devendra Fadnavis, this investment will directly benefit the police personnel in this project by providing them with their long-awaited homes. I am truly happy about this."

"I'm delighted that Rural Enhancers, led by Ambar Ayade, has secured a ₹600 crore investment for the Maharashtra Police Mega City Project. This foreign investment will ensure the timely completion of the project without any financial risks. I'm glad our police personnel will soon have their own homes," said Devendra Fadnavis on his social media.

"I'm pleased that Rural Enhancers has facilitated a term sheet for the MPMC project through a Netherlands-based semi-government organization. I am confident that the necessary technical and legal formalities will be completed," said Kaustubh Dhavse, Joint Secretary and the State Government's FDI Chief.

Maharashtra Police Mega City Corporation's chairman Bharat Kumar Rane welcomed the move and said, "I'm satisfied that Devendra Fadnavis has been guiding this stalled project for the past year. We're exploring ways to allocate homes to all flat owners at their original prices."

Key Features of the Mega City Project:

₹600 crore foreign investment through a Netherlands-based semi-government organization

Investment facilitated by Rural Enhancers and Ambar Ayade

Deputy Chief Minister Devendra Fadnavis played a key role

The project will provide housing for 5,500 police personnel

Stalled in 2016 due to financial constraints

The investment ensures the project's completion without financial risks