MSRTC Fast-Tracks Development of Massive Land Bank with 160 Tenders

Maharashtra State Road Transport Corporation (MSRTC) plans to rapidly develop its 3,360-acre land bank through 160 upcoming tenders. The initiative, announced by Transport Minister Pratap Sarnaik, enlists architect Hafeez Contractor to transform the lands into bus depots. MSRTC will act as a planning authority for efficient project approval.

The Maharashtra State Road Transport Corporation (MSRTC) is preparing to swiftly develop its extensive 3,360-acre land bank across the state, a senior official has announced. This initiative aims to maximize the utility of strategically located lands, primarily for bus depot development, through a streamlined approach.

Transport Minister Pratap Sarnaik revealed the ambitious plan during a Naredco event, where he also announced the imminent release of 160 tenders. Real estate developers are being encouraged to overlook urban biases and consider these new opportunities for developing commercial or residential structures.

With renowned architect Hafeez Contractor at the helm for planning, MSRTC will act as the project approval authority. This ensures that project plans are sanctioned efficiently. Sarnaik also highlighted the push to extend land lease terms from 60 to 99 years to attract more developers, except in forest or no-development zones.

(With inputs from agencies.)