Maharashtra Greenlights Land Ownership for Maha Metro Expansion

The Maharashtra government approved converting leasehold land to ownership rights for Maha Metro, aiding commercial use and funding projects. This conversion covers 2.1 lakh square metres of land across Nagpur, Pune, and Pimpri-Chinchwad. The move supports Maha Metro's financial viability and development of affordable housing and educational institutions.

The Maharashtra government has sanctioned the transformation of over 2.1 lakh square metres of leasehold land into ownership for Maha Metro. This decision facilitates commercial use for projects like affordable housing, healthcare, and educational institutions, according to officials on Wednesday.

Approved in late April, this decision aids metro projects in Nagpur, Pune, and Pimpri-Chinchwad. Maha Metro, the state-run body responsible for the development of modern metro systems outside Mumbai, stands to benefit financially from this move, helping meet obligations like loan repayments.

A senior official mentioned that the land, previously leased to Maha Metro for 30 years, is to be transferred with ownership rights. This transfer includes several parcels from local municipal corporations, following a government order. This change could enhance the financial sustainability of Maha Metro's projects, as only half of its revenue comes from passenger fares, with the remainder needing to be generated through commercial development.

(With inputs from agencies.)