Maharashtra plans PPP redevelopment of 147 MSRTC properties, adding modern bus ports and EV charging

Mumbai: The state government will develop 147 properties of the Maharashtra State Road Transport Corporation (MSRTC), including its bus stands, under Phase-I to provide modern amenities to passengers and create a sustainable source of revenue for the state PSU, Deputy Chief Minister Eknath Shinde said on Tuesday.These properties will be developed under the Public-Private Partnership (PPP) model, he said.MSRTC To Earn Revenue Through Commercial DevelopmentShinde conducted a detailed review of developing the MSRTC properties during a meeting here."In the first phase, 147 MSRTC properties, including bus stands, will be developed under the PPP model. Through these projects, the corporation is expected to receive a share in commercial development. The effort is to create a sustainable source of revenue for the state PSU and use it for infrastructure development and future initiatives," Shinde said.Modern Bus Ports, EV Charging And Passenger Facilities PlannedThe development of infrastructure in surrounding areas will also help increase the value of MSRTC land holdings, he said.Conceptual designs for projects in Borivali and Dahivadi in Satara district were also presented on the occasion, according to him.The plan includes developing modern bus ports, passenger amenities, offices, hospitals, cinemas, citizen service centres and other facilities. Solar power systems, charging facilities for electric vehicles, and dedicated charging infrastructure for ST's electric buses will also be established. This will not only provide better facilities to passengers but also help reduce energy costs and carbon emissions.Land Ownership To Remain With MSRTCUnder this model, ownership of the transport corporation's land will remain with it, and the land will not be permanently transferred.It was stated at the meeting that since 100 per cent of the development cost will be borne by the developer, neither the government nor the corporation will have to bear the financial burden of construction. The corporation will receive an upfront premium and regular annual rent from the developer.Focus On Iconic And Passenger-Friendly Bus StationsThe PPP process will include transparent e-tendering, fund control through an escrow account, a security deposit and a five-year defect liability period."While developing the properties of the Maharashtra State Road Transport Corporation, the lifeline of Maharashtra, through the public-private partnership model, the new bus stations and other structures to be constructed there should not only be equipped with modern facilities but should also be 'iconic' and add to the beauty of the city, while ensuring that citizens receive adequate amenities," he said.Shinde said these properties should be used appropriately and in a well-planned manner so that passengers receive state-of-the-art, safe and quality facilities while also making the transport corporation financially stronger.Maharashtra Deputy CM Eknath Shinde Suggests MCOCA Against Milk, Paneer Adulterators In MaharashtraThe MSRTC transports around 5.5 million passengers every day. Its fleet consists of more than 15,500 buses, with an extensive network of bus stations and depots across the state. However, many bus station buildings are more than 40 years old, and outdated infrastructure has made it difficult to provide passengers with modern facilities. Therefore, under 'Maharashtra ST Corporation 2.0', emphasis is being placed on developing modern, safe and passenger-centric bus stations, he said.For the redevelopment of ST bus stations in Maharashtra, modern bus ports in Ahmedabad and Vadodara in Gujarat have been studied. The premium bus services, e-ticketing, online reservations, passenger facilities, employee incentive systems and management practices of Karnataka's KSRTC have also been studied.State Transport Minister Pratap Sarnaik said the development of MSRTC properties was being planned not merely as a source of commercial revenue but to provide modern facilities to passengers, create attractive and high-quality structures for cities, and provide the corporation with sustainable financial strength.To get details on exclusive and budget-friendly property deals in Mumbai & surrounding regions, do visit: https://budgetproperties.in