Mumbai, March 12: Government has decided to develop surplus and vacant land owned by the Maharashtra State Road Transport Corporation (MSRTC) under the Public-Private Partnership (PPP) model to increase revenue, provide better facilities for passengers and create employment opportunities at the local level. State Transport Minister Pratap Sarnaik informed the Legislative Council about the decision during a half-hour discussion on the issue.
MSRTC land to be developed under PPP model
Sarnaik, who also serves as Chairman of Maharashtra State Road Transport Corporation, said that the corporation owns more than 1,500 hectares of land across the state in bus depots and bus station premises.
The government has approved a proposal to lease these lands to private developers under the PPP model for planned redevelopment, with lease agreements extending up to 98 years.
At present, MSRTC operates 251 depots and 581 bus stations across the state. Around 2,360 hectares of land at nearly 482 locations have been identified as suitable for development.
Revised policy after earlier tender saw poor response
A tender process was earlier initiated in 2017 but did not receive the expected response. Based on recommendations of a high-level committee, a revised policy has now been formulated and fresh tenders have been invited for key locations in the first phase.
Major cities such as Mumbai, Thane, Navi Mumbai and Pune will see phased redevelopment of ST properties. The projects will include modernisation of bus stations, construction of commercial complexes, office buildings and improved passenger amenities.
Lease tenure extended to encourage investment
The government has extended the lease tenure under the revised policy from 30 years to 60 years, while commercial development projects will be executed on a 49+49 year lease basis, totalling 98 years, to encourage investment and ensure long-term financial benefits for the corporation.
A panel of expert project management consultants has been formed to guide the implementation process.
First phase to cover 72 projects
In the first phase, 72 projects covering 216 locations will be developed under cluster packages, categorised into A, B and C groups based on economic viability and location.
Sarnaik said the redevelopment will bring modern infrastructure, commercial units and service facilities at bus depots and stations, generating regular revenue for MSRTC while providing clean, safe and modern amenities to passengers.
Projects expected to boost local employment
The projects are also expected to create significant employment and business opportunities for local youth.
He added that certain lands may also be made available for central and state government offices if required. The commercial and service activities planned around redeveloped bus stations will contribute to the overall development of surrounding areas.
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“MSRTC land is an important public asset. Its proper utilisation will help provide better facilities to passengers while strengthening the corporation’s financial position,” Sarnaik said.
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