Mumbai, July 13: Maharashtra Chief Minister Devendra Fadnavis has directed officials to prepare separate redevelopment plans for every Maharashtra State Road Transport Corporation (MSRTC) bus depot based on its commercial potential, with the aim of strengthening the corporation’s financial position.
Chairing a Transport Department review meeting at his official residence, Varsha, the Chief Minister said redevelopment of ST depots should be carried out in a planned manner through the Public-Private Partnership (PPP) model. He instructed the department to submit a policy proposal to the state cabinet to accelerate the redevelopment process.
Fadnavis said revenue generated from commercially viable projects should be deposited in an escrow account and utilised for other development works. He also clarified that ownership of MSRTC land will remain with the corporation, with redevelopment being considered under a 49+49-year lease model. Legal provisions for stamp duty concessions will also be examined.
The Chief Minister further directed officials to develop integrated multimodal transport hubs by linking ST depots with Metro and other public transport systems to provide seamless and convenient travel for commuters.
