09 October,2026 02:34 PM IST | Mumbai | mid-day online correspondent
MSRTC releases representational image of the proposed Kurla Nehrunagar Bus Stand (Pic/Special arrangement)
The Maharashtra government has approved the commercial development of surplus land owned by the Maharashtra State Road Transport Corporation (MSRTC) under the Public-Private Partnership (PPP) model.
An official statement from the MSRTC stated that under the PPP model we will allow lease periods of 49+49 years, or up to 98 years, to generate long-term revenue for the cash-strapped transport undertaking.
Maharashtra Transport Minister and MSRTC Chairman Pratap Sarnaik said, "The decision aims to strengthen the corporation's finances by making planned commercial use of its land assets. A high-level committee headed by Sarnaik has been formed to oversee the process."
Officials also noted that PPP-based development can be undertaken on different categories of land held by MSRTC, including land acquired through land acquisition, transferred from the erstwhile Road Transport Department, leased to the corporation, or received through gift deeds.
The Maharashtra government while issuing an official press note also mentioned that they will be mandating separate tendering process for every site to ensure transparency in the process.
Under the Maharashtra Public-Private Partnership Policy, 2026, certain concessions may be considered for viable projects at the final stage of development.
"The relevant committee will examine the tender, concession agreement, and project structure, while final approval for each project's tender will be required at the Chief Minister's level," the official note from MSRTC noted.
Describing MSRTC's land holdings as valuable assets, Sarnaik said the objective was to use them for the corporation's long-term financial empowerment rather than merely for temporary income.
"The lands owned by the ST Corporation are the valuable assets of the corporation. These lands will not be utilised only for temporary income, but for the long-term financial empowerment of ST," the Maharashtra Transport Minister said.
He further added that transparent tendering, proper commercial planning, and the PPP model would be used to maximise revenue from the properties.
Sarnaik also mentioned that financial independence was necessary to strengthen the corporation's passenger services.
"Revenue generated through the development of surplus land would be used to improve MSRTC's services and facilities," he said.
