Overview
- Chief Minister Devendra Fadnavis on Monday ordered depot-specific redevelopment blueprints and asked officials to prepare a Cabinet policy on incentives to speed up PPP projects.
- The state Cabinet has approved a large-scale commercial redevelopment programme covering thousands of acres of MSRTC land and projects roughly ₹600 crore a year in rent from redeveloped sites.
- Officials plan long-term lease structures such as 49+49 or 98-year tenures while keeping land ownership with MSRTC and giving the corporation space in new complexes.
- Revenue from commercially viable redevelopments will be placed in an escrow account to fund upgrades of other depots and related infrastructure, and legal incentives including stamp duty concessions are being examined to attract premium developers.
- The move responds to MSRTC’s weak finances — the corporation reported a FY2025-26 loss — and is expected to create jobs, link depots with metro and local transport for multimodal hubs, and proceed in phases after consultant and legal reviews.