Maharashtra Chief Minister Devendra Fadnavis has directed the Transport Department to prepare depot-specific redevelopment plans for Maharashtra State Road Transport Corporation (MSRTC) properties, with the objective of increasing revenue and improving the financial sustainability of the state-run transport undertaking.
The directions were issued during a review meeting held at the Chief Minister’s official residence, Varsha, on Monday. Fadnavis said redevelopment should be planned based on the commercial potential of each bus depot instead of adopting a uniform model across the state.
To accelerate the redevelopment process, the Chief Minister instructed officials to prepare a policy proposal for approval by the state Cabinet, enabling projects to be implemented through the Public-Private Partnership (PPP) model.
He also directed that revenue generated from commercially viable redevelopment projects should be deposited into an escrow account and utilised to fund redevelopment of less profitable depots as well as other infrastructure projects undertaken by MSRTC.
Fadnavis further asked officials to examine incentives and concessions that could be offered to private developers participating in the PPP model and submit the proposals to the Cabinet for consideration.
The Chief Minister reiterated that ownership of MSRTC’s land should continue to remain with the corporation. He said the government is exploring a 49+49-year lease model that would unlock the commercial value of depot properties while ensuring that ownership remains with MSRTC.
He also directed the administration to study the legal feasibility of providing stamp duty concessions for redevelopment projects to encourage private participation.
Emphasising the need for integrated urban mobility, Fadnavis called for the development of multimodal transport hubs by connecting MSRTC bus depots with Metro rail networks and other public transport systems. He said such integration would improve last-mile connectivity and provide seamless travel options for commuters across Maharashtra.
The meeting was attended by Transport Minister Pratap Sarnaik, Minister of State Madhuri Misal, Additional Chief Secretaries Sanjay Sethi, O.P. Gupta and Vikas Chandra Rastogi, Planning Department Secretary A. Shaila, and MSRTC Vice-Chairman and Managing Director Dr Madhav Kusekar, along with other senior officials.
Source: The Free Press Journal
