The Maharashtra State Road Transport Corporation (MSRTC) has received a significant procedural boost regarding its prime commercial real estate holdings across 850 locations totaling 3,500 acres. The Maharashtra Cabinet, under Chief Minister Devendra Fadnavis, has exempted MSRTC’s land development projects from the strict provisions of the March 2026 state PPP policy to prevent administrative delays. A high-level committee led by the Transport Minister will oversee the commercial and residential development of 213 prime locations on a long-term lease of 49 + 49 years, expediting multi-modal transit hubs and commercial complexes.
Fadnavis has directed officials to execute a well-planned redevelopment of ST bus depots to enhance revenue generation. Emphasizing the need for a customized development blueprint for each depot based on its specific capacity and commercial potential, he urged the department to submit a strategic policy proposal to fast-track redevelopment through the Public-Private Partnership (PPP) model. The chief minister stressed the importance of unique planning tailored to the commercial viability of each depot and the deposit of revenues from financially viable projects into an escrow account for funding other development initiatives.
To safeguard public assets, a comprehensive proposal outlining incentives for developers under the PPP policy will be presented to the Cabinet for approval. The government is considering a “49 + 49 years” lease model to ensure MSRTC’s permanent land ownership while maximizing long-term commercial value. Fadnavis also instructed officials to explore stamp duty exemptions for these projects to attract premium developers and prioritize integrated planning for seamless public transit. He called for the development of Multimodal Transport Hubs by connecting ST bus depots with the Metro network and other public transportation systems to enhance the commuter experience statewide.
The Cabinet has approved amendments to the Maharashtra Minor Mineral Extraction (Development and Regulation) Rules, 2013, to protect local quarry operators and prevent the illegal influx of materials. Following Telangana’s model, Maharashtra will now impose a Rs 100 per metric ton regulation fee on all minor minerals entering the state from neighboring states.
