Maharashtra Government Invites Development of 3,360 acres of MSRTC Land Bank

Mumbai, February 12, 2025: Maharashtra Minister of Transport Pratap Sarnaik has announced that the State’s MSRTC’s bus depots will be taken on a fast-track mode and developed across district, taluka and rural areas level and for the entire development, the Government would float about 150 to 160 tenders soon. Sarnaik was speaking at the NAREDCO NextGen Conclave 2025 organized by NAREDCO NextGen in Mumbai.

Sarnaik delivered a keynote address, highlighting that MSRTC holds a vast land bank of approximately 3360 acres. He added that in order to develop the MSRTC Bus Depots, the government has appointed well-known architect Hafeez Contractor to come up with a presentation to develop the plan. Sarnaik emphasized the need to develop these strategically located landbanks and urged the state’s developers to come forward to develop the commercial or residential premises.

Stating that MSRTC will be made a Planning Authority to execute the project, Sarnaik said, “MSRTC will be made a planning authority and it will sanction the plans under one roof. For the same, MSRTC’s technical team capacities will be built.”

Appealing to developers to look for real estate development opportunities beyond the urban areas or select cities, the minister stated that the developers should take interest in developing real estate even in the rural areas for developing the state. He said that the land bank in areas such as Lonavala – Khandala, Mahabaleshwar where new DCPR rules are not applicable due to forest and no-development zones, but a major portion of the land will come under the ambit of new DCPR, which will provide adequate FSI for new development. Additionally, efforts are underway to extend the land lease period from 60 years to 99 years.

Sarnaik also officially launched the NAREDCO NextGen ‘Digital Learning Hub’ at the prestigious NAREDCO NextGen Conclave 2025, held at the JIO Convention Centre in Mumbai. This innovative online learning platform is designed for young real estate professionals, offering comprehensive insights into emerging trends, cutting-edge technologies, and the latest policy updates. The platform aims to collaborate with top institutions across the country to offer certification programs, empowering the next generation of real estate leaders with the knowledge and skills needed to thrive in an ever-evolving industry.