Maharashtra Govt Clears 98-Year Lease Of MSRTC's 3,500-Acre Land Bank Across 850 Locations For Commercial Development
Mumbai: The Maharashtra government has approved the commercial development of surplus land owned by the Maharashtra State Road Transport Corporation (MSRTC) under the Public-Private Partnership (PPP) model, paving the way for a new source of long-term revenue for the state transport undertaking. MSRTC has more than 3,500 acres of land across approximately 850 locations in Maharashtra, much of it…
The Maharashtra government has recently approved a 98-year lease for MSRTC's surplus 3,500-acre land bank across 850 locations for commercial development under the Public-Private Partnership (PPP) model. This move aims to generate substantial upfront and recurring revenue for the state transport undertaking. The planned development could include commercial, residential, industrial, and other business purposes, with MSRTC expected to receive a share in the developed commercial complexes.
A high-level committee under Transport Minister Pratap Sarnaik's chairmanship has been constituted to oversee the process, which is expected to strengthen the corporation's financial position and facilitate the planned and transparent development of the properties.
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