MUMBAI: Maharashtra State Road Transport Corporation (MSRTC) is aiming to develop its 3,360-acre land bank spread across the state on a fast-track mode, a top functionary has said. The state’s transport minister Pratap Sarnaik made the announcement while speaking at an event organised by realty industry’s lobby grouping Naredco on Tuesday, and also declared that up to 160 tenders will be floated soon.
The land bank will be used for developing bus depots, Sarnaik said, adding that the government has engaged architect Hafeez Contractor to develop a plan for exploiting the land bank.
“MSRTC will be made a planning authority and it will sanction the plans under one roof. For the same, MSRTC’s technical team capacities will be built,” Sarnaik was quoted as saying in a press communique issued by the organisers.
Sarnaik said there is a need to develop the “strategically located” lands, and urged real estate developers to come forward to develop commercial or residential premises on it, as per the statement.
He also assured that barring a few exceptions where new developments are banned as the land falls in a forest or no-development zone, developers will get adequate floor space index (FSI) for new development in a major portion of the land bank.
Efforts are also underway to extend the land lease period from 60 years to 99, he added.
The minister asked the developers to look beyond urban areas or select cities for taking on such developments.
