Mumbai, May 7 (PTI) The Maharashtra government has approved the conversion of over 2.1 lakh square metres of leasehold land into ownership for Maha Metro, paving the way for commercial use, including affordable housing, hospitals, and educational institutions, officials said on Wednesday.
The decision, taken in the last week of April, will benefit metro projects in Nagpur, Pune, and Pimpri-Chinchwad operated by Maha Metro, a state-run agency tasked with implementing modern metro rail systems outside Mumbai.
Through commercial use, Maha Metro can generate funds to meet its financial obligations, including repaying loans, the official said.
A senior state government official said the land, previously leased to Maha Metro for 30 years, will now be transferred without conditions on an ownership basis.
“A total of 2,10,755 square metres of land will be handed over. This includes 1,43,916 sq. metres in Pune, 19,998 sq. metres in Pimpri-Chinchwad, and 46,841 sq. metres in Nagpur,” the official added.
According to a government order, eight land parcels from Nagpur Municipal Corporation and 12 from Nagpur Improvement Trust will be transferred to Maha Metro, besides 20 from Pune Municipal Corporation and eight from Pimpri-Chinchwad.
The approval follows a request from Maha Metro, which is responsible for repaying international loans taken for phase one of its mass transit projects in Nagpur and Pune, as well as covering operational and maintenance costs.
“To make the projects financially viable, commercial use of land is crucial. Only 50 per cent of revenue comes from passenger fares. The rest must come through commercial development,” a Maha Metro official said.
He added that converting the land into ownership will allow for projects such as affordable housing near metro stations, creating “walk-to-work” solutions, and education institutes like skill development centres that will help train youth for employment. PTI ND NR
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