Maharashtra to Transform MSRTC Bus Depots into Modern 'Bus Ports'
Maharashtra State Road Transport Corporation (MSRTC) is set to redevelop its vast land bank into modern 'bus ports' through 98-year leases, inviting real estate developers to participate in this transformative project.
MsrtcBus PortsReal EstatePublicprivate PartnershipAffordable HousingReal Estate MaharashtraSep 26, 2025
Minister Pratap Sarnaik announced on Friday that the state government will issue tenders next month to lease MSRTC bus depots for a long-term period of 98 years. These depots will be redeveloped into modern 'bus ports' on the lines of Gujarat’s successful model. Speaking at the inauguration of a mega property exhibition, Sarnaik revealed that MSRTC currently owns over 13,000 acres of prime land across the state, including valuable locations in Mumbai’s Kurla and Borivali, as well as other urban and semi-urban areas.
Instead of the current 30-year lease model, these lands and depots will now be leased for 98 years—49 years initially, with a 49-year extension. “We invite real estate developers to actively participate in this transformative project that will reshape Maharashtra's transport and urban landscape,” Sarnaik said. The modern bus port initiative aims not only to enhance public transport facilities but also to generate revenue and stimulate economic activity through the commercial development of underutilized public assets.
In addition to bus depot redevelopment, Sarnaik also announced plans to launch pod taxi services in the Bandra-Kurla Complex (BKC), with future expansion to Mira-Bhayandar, Thane, and other areas in the Mumbai Metropolitan Region (MMR). The pod taxis are expected to offer a futuristic, eco-friendly solution to last-mile connectivity issues in the city.
Reaffirming the state government’s commitment to inclusive development, the minister highlighted the need to boost real estate growth in semi-urban and rural areas, especially to promote affordable housing. The event also saw the participation of renowned actor and Rugby India President Rahul Bose, who served as a special guest. In his address, Bose urged developers to prioritize low-cost housing and design inclusive community spaces that enhance quality of life in high-density urban environments like Mumbai.
“The real estate sector has a unique responsibility in shaping the social fabric of our cities. Affordability and inclusivity must be at the heart of every development,” Bose said. This initiative by the Maharashtra government is expected to not only modernize public transport but also contribute significantly to the economic and social development of the state.
Frequently Asked Questions
What is the main goal of redeveloping MSRTC bus depots?
The main goal is to enhance public transport facilities and generate revenue by transforming underutilized public assets into modern 'bus ports' through long-term leases.
How long will the lease agreements be for the MSRTC bus depots?
The lease agreements will be for 98 years, with an initial 49-year period and a 49-year extension.
What are the key benefits of the modern bus port initiative?
The key benefits include improved public transport, economic growth through commercial development, and enhanced urban and semi-urban areas.
What additional transport services are planned?
Pod taxi services are planned to be launched in the Bandra-Kurla Complex (BKC) and other areas in the Mumbai Metropolitan Region (MMR) to improve last-mile connectivity.
Why is affordable housing a focus of this project?
Affordable housing is a focus to promote inclusive development and enhance the quality of life in high-density urban environments, especially in semi-urban and rural areas.
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.