Maharashtra Govt to Lease 150 MSRTC Bus Depot Lands for Development
The Maharashtra government plans to invite bids next month to lease land at 150 locations owned by the MSRTC for the development of bus depots. The 98-year lease aims to transform these strategic locations into modern Bus Ports.
MaharashtraReal EstateMsrtcBus DepotsDevelopmentReal Estate MaharashtraSep 26, 2025
The minister stated that the tenders would be floated for the long-term development of bus depots across the state on 98-year leases, structured as an initial 49-year term extendable by another 49 years. This significant move was announced at the fourth edition of HOMETHON 2025, a three-day property exhibition held at the Jio World Convention Centre in Mumbai.
MSRTC owns over 13,000 acres of land parcels at strategic locations, including Kurla and Borivali in Mumbai and other towns across the state. The government has decided to develop these lands and bus depots by offering them on long-term leases. Sarnaik emphasized the potential for these depots to be transformed into modern Bus Ports, similar to those in Gujarat.
Sarnaik also called for the state's real estate developers to participate in the tenders to develop these ST Bus Depots. He highlighted that in February 2025, during NAREDCO NextGen in Mumbai, the government had already outlined plans to float 150 to 160 tenders for the development of over 3,000 acres of MSRTC bus depot land. Architect Hafeez Contractor was appointed to design a plan for utilizing these land parcels.
In addition to the bus depot developments, Sarnaik announced that the state government’s Pod Taxi project will soon launch in the Bandra-Kurla Complex (BKC) and expand to other parts of the Mumbai Metropolitan Region (MMR), including Mira-Bhayandar and Thane. This project aims to improve connectivity and reduce traffic congestion in these areas.
Speaking at the inauguration ceremony, Niranjan Hiranandani, chairman of NAREDCO India, expressed optimism about the real estate sector's growth. He stated, “The real estate sector is estimated to grow at 12%, but in reality, it is expected to expand by 15%, marking unprecedented growth. Additionally, the GST relief on cement and bricks will help reduce the cost of affordable housing.”
Hiranandani added that the development of 300 km of Metro lines will transform commuting in Mumbai and significantly boost the real estate sector. He noted, “We will have 300 km of Metro completed in the next four years. The increased rail and metro connectivity, upcoming second and third airports, and a port surrounding MMR will boost the prospects of the real estate sector.” He also emphasized the need for further ease of doing business, reduction in development charges, and other reforms to support the sector.
Rajan Bandelkar, vice chairman of NAREDCO India, stressed the importance of the real estate sector in uplifting the affordable housing segment to achieve the vision of 'Housing for All'.
Frequently Asked Questions
What is the main goal of leasing MSRTC bus depot lands?
The main goal is to develop these lands into modern Bus Ports, similar to those in Gujarat, to improve connectivity and infrastructure in the state.
How long will the leases be for the MSRTC bus depot lands?
The leases will be for 98 years, structured as an initial 49-year term extendable by another 49 years.
What are the strategic locations of the MSRTC bus depots?
The MSRTC bus depots are located in strategic areas such as Kurla and Borivali in Mumbai, and other towns across Maharashtra.
Who has been appointed to design the development plan for the MSRTC lands?
Architect Hafeez Contractor has been appointed to design the development plan for the MSRTC lands.
How will the Pod Taxi project benefit the Mumbai Metropolitan Region?
The Pod Taxi project will improve connectivity and reduce traffic congestion in areas like the Bandra-Kurla Complex (BKC), Mira-Bhayandar, and Thane.
Related News Articles
Retail Revolution: India's Retail Space Expected to Boom by 50%
The top seven cities in India, including Mumbai, Delhi NCR, Bengaluru, Hyderabad, Pune, Kolkata, and Chennai, are projected to witness a surge in retail space, with Delhi NCR leading the charge.
Insolvency Proceedings Initiated Against Jaiprakash Associates by NCLT
The National Company Law Tribunal (NCLT) has initiated insolvency proceedings against Jaiprakash Associates, a leading real estate developer, following a plea by ICICI Bank.
Whiteland Corp Partners with Marriott International for Luxurious Housing Project in Gurgaon
Real estate developer Whiteland Corporation has signed an agreement with Marriott International to bring Westin Residences to Gurgaon, offering a luxurious housing project with hotel-inspired lifestyle
New LTCG Rules Bring Relief to Homeowners, Boost Real Estate Stocks
The Finance Minister's decision to amend the LTCG rules has brought cheer to homeowners and boosted real estate stocks. Here's what it means for you.
Shaping Urban India: The Evolution of Real Estate Since Independence
India's real estate sector has played a pivotal role in shaping urban development since independence. With the urban population growing from 62 million in 1947 to over 485 million today, the sector has undergone significant transformations.
Mumbai Police Arrests Conman Who Duped Real Estate Developer of ₹4 Crore and 3.5Kg Gold
Worli police apprehended Dhirendra Chandrakant Shukla, a wanted real estate agent, for duping Avighna Group of Rs2 crore and 3.5kg gold by promising a vacant plot in Worli for development.