Maharashtra Invites Real Estate Firms to Develop 13,000 Acres of MSRTC Land
Maharashtra has invited real estate companies to develop commercial and residential projects on 13,000 acres of land owned by the Maharashtra State Road Transport Corporation (MSRTC) across the state. The development will be carried out under public-private partnerships on a build-operate-transfer (BoT) basis.
Real EstateMsrtcDevelopmentPublicprivate PartnershipLand ParcelsReal Estate NewsSep 26, 2025
The government will issue about 150 tenders next month, Transport Minister and MSRTC Chairperson Pratap Sarnaik said at the Naredco Maharashtra Real Estate Forum 2025 in Mumbai on Friday.
MSRTC owns land parcels in prime locations across the Mumbai Metropolitan Region (MMR), including Mumbai Central, Kurla, Vidyavihar, Chinchbunder (South Mumbai), and Thane. It also has land in Pune, including Swargate and Sangvi, and in Nashik and Nagpur.
The minister said the lease period for the land will be 98 years. Developers will rent out commercial areas such as offices, hotels, shopping centres, and retail outlets, while also building hospitals on district-level plots and facilities for MSRTC. The government plans to replace bus depots with bus courts.
MSRTC will sanction development plans under a single window to ease approvals from various government entities. Its technical team will also be strengthened. Developers will be granted floor space index (FSI) according to the Unified Development Control and Promotion Regulations (UDCPR). Selection will depend on the premium offered by the developer.
UDCPR is a standard set of regulations framed by the government of Maharashtra. Rajan Bandelkar, vice-chairperson of Naredco and managing director of Raunak Group, said: “The land parcels are in prime locations. It’s a great opportunity for developers.”
MSRTC also has significant land banks in tourist destinations such as Lonavala-Khandala and Mahabaleshwar, which may come under the ambit of the new UDCPR, providing adequate FSI for real estate development.
Accumulated losses of MSRTC rose to Rs 10,324 crore in the financial year 2024 (FY24) from Rs 4,603 crore in FY19. The state-owned body has managed to post a profit in only eight of the past 45 fiscal years, according to a white paper released in June.
Earlier, Sarnaik had said the possibility of the corporation recovering from its heavy losses soon was very slim, but efforts were on to improve its financial condition. He had announced the induction of more buses and measures to boost revenue, according to PTI.
Frequently Asked Questions
What is the total area of land being offered for development by MSRTC?
The total area of land being offered for development by MSRTC is 13,000 acres.
How will the land be developed?
The land will be developed under public-private partnerships on a build-operate-transfer (BoT) basis.
What are some of the prime locations where MSRTC owns land?
MSRTC owns land in prime locations such as Mumbai Central, Kurla, Vidyavihar, Chinchbunder, Thane, Pune (Swargate and Sangvi), Nashik, and Nagpur.
What is the lease period for the land?
The lease period for the land is 98 years.
How will the selection of developers be determined?
The selection of developers will depend on the premium offered by the developer.
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