MSRTC Revitalizes 3,360-Acre Land Bank with 160 New Tenders
The Maharashtra State Road Transport Corporation (MSRTC) is set to develop a massive 3,360-acre land bank with 160 new tenders, encouraging real estate developers to explore new opportunities.
MsrtcLand BankReal EstateTendersMaharashtraReal Estate MaharashtraFeb 12, 2025
This strategic initiative aims to maximize the utility of these lands, primarily for the development of bus depots, through a streamlined approach.
Transport Minister Pratap Sarnaik unveiled the ambitious plan during a Naredco event.
He also announced the imminent release of 160 tenders, inviting real estate developers to overlook urban biases and consider these new opportunities for developing commercial or residential structures.
Renowned architect Hafeez Contractor will lead the planning process, ensuring efficient and effective development.
MSRTC will act as the project approval authority, streamlining the sanctioning of project plans.
This approach aims to attract more developers by extending land lease terms from 60 to 99 years, although these changes will not apply in forest or no-development zones.
The MSRTC’s land bank is strategically located, offering numerous potential benefits.
By developing these lands, the corporation aims to enhance its infrastructure and services, contributing to the overall growth and development of the region.
The extended lease terms and streamlined approval processes are expected to make these projects more appealing to real estate developers, fostering a robust and sustainable development environment.
The initiative is a significant step towards modernizing the state’s transport infrastructure.
It not only addresses the immediate needs of the MSRTC but also creates opportunities for economic growth and urban development.
With the involvement of renowned professionals and a clear roadmap, the project is poised to deliver substantial benefits for both the public and private sectors.
Frequently Asked Questions
How much land does MSRTC have in its land bank?
MSRTC has a 3,360-acre land bank across the state of Maharashtra.
How many new tenders will MSRTC release?
MSRTC will release 160 new tenders for the development of its land bank.
Who is leading the planning process for the development?
Renowned architect Hafeez Contractor is leading the planning process for the development of MSRTC’s land bank.
What is the role of MSRTC in the project approval process?
MSRTC will act as the project approval authority, ensuring that project plans are sanctioned efficiently.
How long will the land lease terms be extended to?
The land lease terms will be extended from 60 to 99 years, except in forest or no-development zones.
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