On November 2, 2023, the government sanctioned funds worth Rs 4.1 billion for Pune Metropolitan Regional Development Authority for the Hinjewadi-Shivajinagar Metro Rail Project (Corridor 3 of Pune Metro). The funds were sanctioned as a part of the first tranche of the total viability gap funding of Rs 12.25 billion for the project from the centre. The project involves the development of a 23.3 km long metro rail system connecting Hinjewadi IT Park to Shivajinagar in Pune. It is being implemented on the design-build-finance-operate-transfer basis under the PPP mode as Corridor 3 of the proposed Pune metro, and will be entirely elevated, with a total of 23 stations.
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