Maharashtra Transport Minister urges CREDAI to Collaborate on MSRTC Land Development
Developers partnering with MSRTC will have the opportunity to use the remaining portions of the land for commercial projects, making it a lucrative prospect for the real estate sector.
MaharashtraMsrtcCredaiReal EstateInfrastructureReal Estate MumbaiJan 19, 2025
Speaking at an exhibition organized by the Maharashtra Chamber of Housing Industry on Sunday, Minister Sarnaik outlined ambitious plans to utilize MSRTC’s vast land assets for 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, alongside green initiatives like electric bus charging stations, rainwater harvesting systems, solar panel installations, and 100-bed modern hospitals at district centers.
Developers partnering with MSRTC will also be allowed to utilize the remaining portions of the land for commercial projects, offering a lucrative opportunity to the real estate sector.
Minister Sarnaik announced that a comprehensive policy detailing these plans will soon be released, and urged CREDAI and other industry leaders to submit suggestions and proposals for the initiative.
'This is a unique opportunity for the real estate sector to contribute to the state’s infrastructure development while creating commercial hubs,' said Minister Sarnaik.
CREDAI President Dr.
Dominic Romell and other prominent developers, architects, and officials attended the event.
Architect Nilesh Lahival, representing MSRTC, presented an overview of the corporation’s plans and emphasized the potential for private sector collaboration in driving this ambitious initiative.
The proposed model aims to balance infrastructure needs with sustainable development, setting a benchmark for public-private partnerships in Maharashtra.
By leveraging the vast land resources, the state aims to boost economic growth, create employment opportunities, and enhance the quality of life for its residents.
MSRTC, a state-owned corporation, has long been a key player in public transportation in Maharashtra.
With this initiative, MSRTC is set to play a pivotal role in transforming the state’s landscape, combining modern infrastructure with sustainable practices.
The involvement of CREDAI is crucial in ensuring that the development is carried out efficiently and in line with the state’s vision.
CREDAI, representing the real estate developers in India, has a proven track record of successful projects and can bring valuable insights and expertise to this initiative.
This collaboration between the government and the private sector is expected to set a new standard for infrastructure development in the region, making Maharashtra a model for other states to follow.
Frequently Asked Questions
What is the primary goal of the collaboration between MSRTC and CREDAI?
The primary goal is to develop 1,360 hectares of land owned by MSRTC for infrastructure and sustainable development projects, including bus stations, depots, administrative offices, and green initiatives, while also allowing developers to use the remaining land for commercial projects.
Which model will be used for the development of MSRTC land?
The development will be carried out under a 'build, operate, and transfer' (BOT) model or a public-private partnership (PPP) framework.
What are some of the green initiatives included in the proposed projects?
The green initiatives include electric bus charging stations, rainwater harvesting systems, solar panel installations, and 100-bed modern hospitals at district centers.
Who attended the exhibition where the plans were outlined?
CREDAI President Dr. Dominic Romell and other prominent developers, architects, and officials attended the event.
How does this initiative benefit the real estate sector?
The initiative offers a unique opportunity for the real estate sector to contribute to infrastructure development while creating commercial hubs, making it a lucrative prospect for developers.
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