In a move to enhance financial independence, Chief Minister Devendra Fadnavis has instructed officials to revamp Maharashtra State Road Transport Corporation (MSRTC) bus depots. Each depot will undergo tailored redevelopment plans based on its capacity and revenue potential. The government aims to expedite this process through a Public-Private Partnership (PPP) model, ensuring distinct strategies for each depot to optimize commercial viability.
Fadnavis emphasized the need for financially successful projects to contribute to an escrow account dedicated to funding further development initiatives. A proposal outlining incentives for developers under the PPP policy, including a “49 + 49 years” lease model to safeguard public assets, will be presented for Cabinet approval. The government is also exploring stamp duty exemptions to attract top-tier developers for these projects.
To enhance public transit efficiency, Fadnavis urged officials to focus on integrated planning. The vision includes creating Multimodal Transport Hubs that connect ST bus depots with the Metro network and other public transport systems, aiming to revolutionize the commuting experience statewide.
