News Brief
Maharashtra To Transform MSRTC Land Into Modern Transport Hubs Under PPP Model
AN MSRTC vehicle (Wikimedia Commons/Srikanth Ramakrishnan)
Maharashtra Transport Minister Pratap Sarnaik has announced an ambitious plan to develop the Maharashtra State Road Transport Corporation (MSRTC)'s 3,360-acre land bank into modern transport depots through a Public-Private Partnership (PPP) model, Free Press Journal reported.
The initiative aims to develop the state's public transport infrastructure by creating state-of-the-art hubs that will enhance connectivity and commuter experience.
While speaking as the chief guest at a conclave organised by NAREDCO GenNext, Sarnaik invited real estate developers to collaborate with the government on this transformative project.
He emphasised that the government is considering a 99-year lease model, ensuring long-term investment opportunities while retaining public ownership.
He affirmed that he was positive about this initiative, encouraging developers to seize the opportunity.
The proposed transport depots will be developed at district, taluka, and village levels, catering to urban and rural commuters alike.
The project will adhere to the Unified Development Control and Promotion Regulations (UDCPR), with approximately 90 per cent of the land falling under its jurisdiction.
Notably, MSRTC will serve as the planning authority, streamlining the approval process and ensuring the transport hubs align with the state's long-term urban development vision.
The announcement received strong backing from key industry stakeholders, with NAREDCO Chairman Dr Niranjan Hiranandani and Vice Chairman Rajan Bandelkar in attendance.
The MSRTC land development project is set to modernise Maharashtra’s transport network but also unlock significant commercial and economic potential.
