Naredco Urged to Develop Prime ST Land: MSRTC Chairman
The MSRTC chairman, Pratap Sarnaik, calls on Naredco to leverage its expertise and develop State Transport (ST) land under a 98-year lease agreement, contributing to public welfare and improved transport services.
MsrtcNaredcoPppLand DevelopmentPublic WelfareReal Estate MumbaiSep 26, 2025
Taking advantage of this opportunity, the National Real Estate Development Council (Naredco) should utilize its experience and expertise to develop various ST properties and contribute to public welfare, according to MSRTC chairman Pratap Sarnaik. Sarnaik made these remarks at the annual conference of the National Real Estate Development Council.
Speaking on the occasion, Sarnaik highlighted that Naredco is a national-level apex organization in the construction sector. This organization works to connect the country's construction industry with the general public. The recent state government decision states that permission has been granted for 98-year lease agreements to develop ST corporation lands on a public-private partnership basis. ST has properties at prime locations in various cities across the state.
While developing these properties, the condition is to build and transfer depots, bus stations, and other ancillary infrastructure required by ST. The remaining land will be given to the concerned developer on a 98-year lease to develop and use on a commercial basis.
Sarnaik appealed that an organization like Naredco should take advantage of this opportunity and use its experience and expertise to transform bus stations across the state into bus ports. This will contribute to creating quality transport services for the general public.
Frequently Asked Questions
What is the total land bank owned by MSRTC?
MSRTC currently owns a land bank of 13,000 acres spread across 850 locations throughout the state.
What is the duration of the lease agreement granted for developing ST land?
The lease agreement granted for developing ST land is for a period of 98 years (49+49 years).
What is Naredco's role in the development of ST land?
Naredco is a national-level apex organization in the construction sector and is urged to use its experience and expertise to develop various ST properties and contribute to public welfare.
What are the conditions for developing ST properties?
The conditions for developing ST properties include building and transferring depots, bus stations, and other ancillary infrastructure required by ST. The remaining land will be given to the developer on a 98-year lease for commercial development.
What is the ultimate goal of this development project?
The ultimate goal of this development project is to transform bus stations into bus ports and contribute to creating quality transport services for the general public.
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