Maharashtra Transport Minister Pratap Sarnaik Urges CREDAI to Partner in MSRTC Land Development
Maharashtra Transport Minister Pratap Sarnaik has urged the Confederation of Real Estate Developers' Associations of India (CREDAI) to actively participate in the development of 1,360 hectares of land owned by the Maharashtra State Road Transport Corporat
MaharashtraMsrtcCredaiInfrastructureSustainable DevelopmentReal Estate MaharashtraJan 19, 2025
Speaking at an exhibition organized by the Maharashtra Chamber of Housing Industry, Minister Sarnaik highlighted the vast potential of this initiative, which plans to utilize the MSRTC’s significant land assets for both infrastructure and sustainable development projects.
The MSRTC land, spread across 842 locations in urban, semi-urban, and rural areas, will be developed under a 'build, operate, and transfer' (BOT) model or a public-private partnership (PPP) framework.
The proposed projects include the construction of essential infrastructure such as bus stations, depots, and administrative offices.
Additionally, green initiatives like electric bus charging stations, rainwater harvesting systems, solar panel installations, and 100-bed modern hospitals at district centers are also on the agenda.
Developers partnering with MSRTC will have the opportunity to use the remaining portions of the land for commercial projects, presenting a lucrative opportunity for the real estate sector.
Minister Sarnaik announced that a comprehensive policy detailing these plans will be released soon, and he urged CREDAI and other industry leaders to submit suggestions and proposals for the initiative.
Frequently Asked Questions
What is the total area of land owned by MSRTC that is proposed for development?
MSRTC owns a total of 1,360 hectares of land spread across 842 locations in urban, semi-urban, and rural areas of Maharashtra.
Under what models will the land be developed?
The land will be developed under a 'build, operate, and transfer' (BOT) model or a public-private partnership (PPP) framework.
What are some of the proposed projects for the MSRTC land?
The proposed projects include the construction of essential infrastructure such as bus stations, depots, and administrative offices, alongside green initiatives like electric bus charging stations, rainwater harvesting systems, solar panel installations, and 100-bed modern hospitals at district centers.
Who is calling for CREDAI's involvement in this initiative?
Maharashtra Transport Minister Pratap Sarnaik has called for CREDAI's involvement in the development of the MSRTC land.
What is the expected impact of this initiative on the real estate sector?
This initiative offers a lucrative opportunity for the real estate sector by allowing developers to use the remaining portions of the land for commercial projects, contributing to both infrastructure development and economic growth.
Related News Articles
Adani Realty Lights Up Mumbai's Skyline with a Dazzling Ganesh Chaturthi Tribute
Adani Realty's unique display harmoniously blends modern real estate design with cultural reverence, earning widespread admiration from locals and visitors.
India's Residential Inventory Overhang Declines in Q2: Proptiger Report
The Mumbai Metropolitan Region (MMR) and Pune, two of Maharashtra's key real estate markets, accounted for 54% of the total unsold inventory, according to a Proptiger report.
Mahindra Lifespaces Joins Forces for 37-Acre Development in Mumbai
Mahindra Lifespaces, a leading real estate developer, has entered into a joint development agreement for a 37-acre land parcel in Mumbai. This strategic move is expected to bolster the company's presence in the bustling real estate market of the financial
BJP Victory in Maharashtra: A Relief for Adani's $3 Billion Dharavi Project
For Gautam Adani, who is currently facing bribery charges in a US court, the BJP's victory in Maharashtra could provide a crucial breather for his ambitious $3 billion Dharavi redevelopment project.
Agarwal Holdings Secures Major Land Deal in Mumbai's Prestigious Juhu
Agarwal Holdings has made headlines with its latest acquisition of a prime land parcel in Juhu, Mumbai, valued at Rs 455 crore. This strategic move underscores the company's growing influence in the city’s real estate market.
Jaideep Singh's Vision: Expanding USPL into Cinema and Sports
Jaideep Singh, the founder of USPL, is set to revolutionize the sports and cinema industries with his ambitious plans. Discover how his vision is reshaping the landscape.