Maharashtra Transport Minister Pratap Sarnaik has called upon the Confederation of Real Estate Developers’ Associations of India (CREDAI) to actively participate in the development of 1,360 hectares of land owned by the Maharashtra State Road Transport Corporation (MSRTC). Speaking at an exhibition organized by the Maharashtra Chamber of Housing Industry on Sunday, Minister Sarnaik outlined the ambitious plans to utilize MSRTC’s vast land assets for infrastructure and sustainable development projects.
The MSRTC land, spread across 842 locations in urban, semi-urban, and rural areas, will be developed under a "build, operate, and transfer" (BOT) model or a public-private partnership (PPP) framework. The proposed projects include the construction of essential infrastructure such as bus stations, depots, and administrative offices, alongside green initiatives like electric bus charging stations, rainwater harvesting systems, solar panel installations, and 100-bed modern hospitals at district centers.
Developers partnering with MSRTC will also be allowed to utilize the remaining portions of the land for commercial projects, offering a lucrative opportunity to the real estate sector. Minister Sarnaik announced that a comprehensive policy detailing these plans will soon be released, and urged CREDAI and other industry leaders to submit suggestions and proposals for the initiative.
"This is a unique opportunity for the real estate sector to contribute to the state’s infrastructure development while creating commercial hubs," said Minister Sarnaik.
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CREDAI President Dr. Dominic Romell and other prominent developers, architects, and officials attended the event. Architect Nilesh Lahival, representing MSRTC, presented an overview of the corporation’s plans and emphasized the potential for private sector collaboration in driving this ambitious initiative.
The proposed model aims to balance infrastructure needs with sustainable development, setting a benchmark for public-private partnerships in Maharashtra.
