Maharashtra Government Leases 13,000 Acres of MSRTC Land for 98 Years: Boosting Real Estate and Infrastructure
The Maharashtra government is set to lease 13,000 acres of MSRTC land for 98 years, paving the way for significant real estate and infrastructure development. Tenders for the project will be floated next month, promising a new wave of opportunities in the sector.
Real EstateMsrtc LandInfrastructureAffordable HousingMumbaiReal Estate MumbaiSep 27, 2025
Sarnaik made the announcement while inaugurating the three-day Homethon Property Expo 2025 at the Geo World Convention Center in Mumbai. The event has been organised by the Maharashtra chapter of the National Real Estate Development Council (NAREDCO). Actor and Rugby India President Rahul Bose and NAREDCO India President Dr Niranjan Hiranandani were among the dignitaries present.
According to Sarnaik, the model of development will draw inspiration from Gujarat, where similar land parcels have been transformed into modern bus depots and commercial spaces. He urged developers across Maharashtra to participate in the ambitious project. The minister also revealed that pod taxis will soon be introduced in the Bandra-Kurla Complex and later expanded to Mira-Bhayander, Thane, and other parts of the Mumbai Metropolitan Region.
Rahul Bose, addressing the gathering, appealed for greater focus on low-cost housing so that all income groups can enjoy a dignified standard of living in Mumbai’s challenging urban environment.
Dr Hiranandani expressed optimism about the sector’s trajectory, predicting real estate growth at 15 percent despite official estimates of 12 percent. He also stressed that lowering the GST on cement and bricks could further reduce housing costs. With 300 km of metro lines set to become operational in the next four years, coupled with new airports and ports, Hiranandani said infrastructure growth would directly fuel real estate opportunities.
NAREDCO leaders echoed the sentiment, calling for reforms in permits and charges to unlock the sector’s full potential. NAREDCO Maharashtra President Prashant Sharma underlined the theme Reimagining Maharashtra: Global Alliances to Local Impact, while Vice President Rajan Bandelkar urged the industry to focus more on strengthening affordable housing.
Frequently Asked Questions
What is the total area of land being leased by the Maharashtra government?
The Maharashtra government is leasing nearly 13,000 acres of land belonging to the Maharashtra State Transport Corporation (MSRTC) for bus depot development.
How long will the land be leased for?
The land will be leased for 98 years, replacing the earlier 30-year limit.
What is the purpose of leasing this land?
The purpose of leasing this land is to develop modern bus depots and commercial spaces, drawing inspiration from successful models in Gujarat.
What other infrastructure projects are mentioned in the article?
The article mentions the introduction of pod taxis in the Bandra-Kurla Complex and the expansion of 300 km of metro lines in the next four years, along with new airports and ports.
What is the predicted growth rate for the real estate sector in Maharashtra?
Dr Niranjan Hiranandani, NAREDCO India President, predicts a real estate growth rate of 15 percent, despite official estimates of 12 percent.
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