Eknath Shinde Government Doubles Lease Period for MSRTC Projects

The Eknath Shinde government has extended the lease period for Maharashtra State Road Transport Corporation (MSRTC) projects to 60 years, doubling the previous duration. This move aims to revive MSRTC by allowing commercial use of Floor Space Index (FSI) and exempting it from paying 50% of revenue share to the government.

The Eknath Shinde government on Monday approved an extension of the lease period to 60 years for 39 projects by the Maharashtra State Road Transport Corporation (MSRTC), which are being developed on a Build-Operate-Transfer (BOT) basis.

Previously, the lease period for these projects was set at 30 years. The decision was made during a cabinet meeting chaired by Chief Minister Eknath Shinde.

According to a cabinet note, the new terms will allow commercial use of the available Floor Space Index (FSI) on these plots, excluding 0.5 FSI reserved for MSRTC’s construction. The development will adhere to Development Control Regulations 2034 and Unified Development Control and Promotion Regulations 2020. Additionally, MSRTC has been exempted from paying 50% of the revenue share to the government for commercial utilization of these plots, with final decisions on BOT tenders to be made directly at the corporation level.

Shiv Sena MLA Bharat Gogavale, MSRTC’s newly appointed chairman, praised the decision, saying it would revive the state-owned corporation. He highlighted that the extension of the lease period could lead to the development of 1,500 hectares of MSRTC land and that tenders for 20 viable projects would be issued soon.