NAREDCO should support ST corporation's land development: Maharashtra Transport Minister Pratap Sarnaik

Pratap Sarnaik highlighted the vast land holdings of ST, which amount to over 3,000 acres across 840 locations in the state

Maharashtra Transport Minister Pratap Sarnaik has urged the National Real Estate Development Council (NAREDCO) to take the initiative in developing the "land bank" owned by the State Transport (ST) Corporation across Maharashtra. He emphasised that NAREDCO's expertise in real estate development could significantly benefit ST, an organization that plays a crucial role in public transportation.

Speaking at NAREDCO’s annual summit at the Jio World Convention Center (BKC), Sarnaik highlighted the vast land holdings of ST, which amount to over 3,000 acres across 840 locations in the state. The event was attended by NAREDCO President Haribabu, along with leading developers including Rajan Bandekar, Niranjan Hiranandani, and Jay Morjaria, among others.

New tender process for ST land development

Minister Sarnaik explained that ST Corporation’s land parcels are categorised into three groups: district, taluka, and rural areas. While prime locations in major cities attract significant interest from developers, rural and taluka-level sites see much less demand. To address this imbalance, the Maharashtra government is set to introduce a new tender process that will link high-value urban plots with less popular rural ones.

"In this revised tender system, developers interested in premium plots in major cities will also be required to develop at least two additional plots in taluka or rural areas," Sarnaik stated. "This will ensure that vacant ST Corporation land across Maharashtra is effectively utilized while also generating revenue for the transport corporation."

Call for public-private partnership

Sarnaik further appealed to NAREDCO and private developers to participate in a public-private partnership (PPP) model to construct modern bus depots, terminals, and other transport-related infrastructure. He stressed that such collaborations would not only revive ST Corporation financially but also enhance the state's transport facilities.

"Organizations like NAREDCO should step forward to help develop bus stands, depots, and other essential ST Corporation's infrastructure while ensuring that the transport corporation receives substantial funds through land development premiums," he urged.

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