The government of Maharashtra is planning to issue around 150 to 160 separate tenders to develop around 3,360 acres of land belonging to the Maharashtra State Road Transport Corporation (MSRTC), the state's primary transport utility, state transport minister Pratap Sarnaik announced at an event on Tuesday. The land is located in both urban and rural areas, Sarnaik said, with him urging developers to draw up plans to develop land in semi-urban and rural areas as well.
Sarnaik, speaking at NAREDCO's NextGen conclave in Mumbai, added that the eminent architect Hafeez Contractor has been roped in to develop the plan to develop the land bank belonging to MSRTC. It was not immediately clear how much of the land is located in areas such as the Mumbai metropolitan region, the state and India's largest real estate market, and cities such as Pune and Nagpur, both being important real estate markets.
"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 said, as part of his remarks. Moneycontrol has reached out to state government sources for more details on the matter, and the story will be updated once the responses are received.
Sarnaik added that while some of the land bank in areas such as Lonavala, Khandala, and Mahabaleshwar are located in areas where current development control rules do not apply due to them being located in eco-sensitive "no development" zones and forest land, the majority of the land parcel will be available for development under the development control rules. He added that under the new development control rules, developers will have more floor space index - defined as the permissible area allowed to be built on a land parcel - to carry out real estate development.
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