Mumbai: The state govt has invited developers to develop 3,360 acres of MSRTC land bank, state transport minister Pratap Sarnaik said on Wednesday. He further said MSRTC’s bus depots will be taken on a fast-track mode and developed across district, taluka, and rural areas. For the entire development, the govtwill float 150 to 160 tenders soon.
Sarnaik further mentioned that to develop bus depots, the govt has appointed architect Hafeez Contractor to come up with a presentation to develop the plan. He emphasised the need to develop these strategically located land banks and urged the state’s developers to come forward to develop commercial or residential premises. He said this during his address at National Real Estate Development Council NextGen Conclave 2025 held in the city.
Stating that MSRTC will be made a planning authority to execute the project, Sarnaik said, “MSRTC will will sanction the plans under one roof. For the same, MSRTC’s technical team capacities will be built.”
He appealed to developers to look for real estate development opportunities beyond the urban areas or select cities, and that they should take interest in developing real estate even in rural areas for developing the state. He said that the land bank in areas like Lonavala – Khandala, Mahabaleshwar, where new DCPR rules are not applicable due to forest and no-development zones, but a major portion of the land will come under the ambit of new DCPR, which will provide adequate FSI for new development.
“Additionally, efforts are underway to extend the land lease period from 60 years to 99 years,” the state tranpsort minister said.