Fadnavis calls for faster redevelopment of MSRTC bus depots through PPP model

Mumbai, Jul 13 (PTI) Maharashtra Chief Minister Devendra Fadnavis on Monday directed the transport department to prepare separate redevelopment plans for each state transport (ST) bus depot based on its commercial potential, and present a proposal to expedite the projects under the public-private partnership (PPP) model. During a review meeting, Fadnavis said that the redevelopment of Maharashtra State Road Transport Corporation (MSRTC) depots should be carried out in a planned manner to increase non-fare revenue that will make the corporation financially stronger. Each depot has different commercial potential, and redevelopment plans should be prepared accordingly instead of adopting a uniform approach, a release quoted the chief minister as saying. He directed that revenue generated from commercially viable redevelopment projects be deposited in an escrow account and used to fund redevelopment and infrastructure projects at other MSRTC depots. Fadnavis also asked the department to submit a proposal to the state cabinet on concessions that could be extended to private developers under the PPP policy to accelerate redevelopment. According to the release, the government is considering a 49-year lease with an option for a further 49-year extension, under which ownership of MSRTC land will remain with the corporation while enabling its commercial development. The chief minister has asked officials to examine the legal aspects of granting stamp duty concessions for redevelopment projects. He further said that ST depots should be integrated with Metro rail and other public transport systems to develop multimodal transport hubs and provide passengers with seamless connectivity. Transport Minister Pratap Sarnaik, Minister of State for Transport Madhuri Misal, senior transport department officials and MSRTC vice-chairman and managing director Dr Madhav Kusekar attended the meeting, the release added. PTI MR ARU