The Brihanmumbai Electric Supply and Transport (BEST) undertaking has proposed increasing the Floor Space Index (FSI) of its depot lands as part of a Rs 28,000 crore transformation plan aimed at improving its financial condition and making the transport body self-sufficient.
BEST General Manager Sonia Sethi announced the “BEST Kayapalat” project on Tuesday, highlighting Transit-Oriented Development (TOD) as one of the major components of the revival strategy. Under the proposal, the FSI of BEST depot land could be increased from the existing 1.3 to 7, allowing the undertaking to generate additional revenue through premium FSI charges.
The proposal was approved by the BEST committee and will now be forwarded to the Brihanmumbai Municipal Corporation (BMC). It will then be sent to the Urban Development Department before being placed before the state cabinet for final approval.
Sethi said TOD will be implemented at BEST depots across Mumbai, allowing developers to utilise higher FSI within a 500-metre radius, similar to the model adopted for the Metro Line-3 underground corridor. The premium collected from the additional FSI will be transferred to BEST to support its financial recovery.
“The upfront premium generated through the project will be used to clear liabilities, pay pending dues of retired and serving employees, and support the purchase and operation of BEST-owned buses. We plan to purchase 5,000 buses and recruit more drivers and conductors,” she mentioned at the panel meeting.
The transformation plan also includes developing public parking facilities with capacity for around 36,000 cars across BEST depots. Additionally, the undertaking plans to create social infrastructure such as schools, hospitals, art museums, theatres, sports centres and cultural facilities instead of limiting development to commercial spaces.
Sethi said BEST is currently facing an accumulated deficit of more than ₹7,300 crore and liabilities exceeding ₹14,300 crore. She added that procuring and operating 5,000 self-owned buses, along with meeting employee-related commitments, would require an additional ₹13,500 crore.
“BEST is burdened with an accumulated deficit of over Rs 7,300 crore and liabilities exceeding Rs 14,300 crore. The administration has also estimated that procuring and operating 5,000 self-owned buses and meeting employee-related commitments would require an additional Rs 13,500 crore. Together, the undertaking would need nearly Rs 28,000 crore to achieve long-term financial stability,” she said.
The project is proposed to be implemented through a Public-Private Partnership (PPP) model based on Design, Build, Finance, Operate and Transfer (DBFOT). BEST will retain ownership of all its land parcels, while private participation will help generate funds and upgrade infrastructure.
The undertaking is also seeking approvals for mixed land use from the Urban Development Department and exploring a 49+49 year lease model similar to arrangements made for Maharashtra State Road Transport Corporation (MSRTC) land parcels.
Officials said the transformation plan could help secure BEST’s future while enabling the organisation to provide improved and sustainable transport services to Mumbai commuters.
Source: The Times of India
