Mumbai, Sep 23 (PTI) The Eknath Shinde government on Monday approved extension of lease period to 60 years for 39 projects of the Maharashtra State Road Transport Corporation (MSRTC) being developed on Build-Operate-Transfer (BOT) basis.
The lease period for these projects was currently 30 years.
The decision was taken in a cabinet meeting chaired by Chief Minister Eknath Shinde.
As per a cabinet note, under the new terms, commercial use of the available Floor Space Index (FSI) on these plots will be permitted, excluding 0.5 FSI reserved for MSRTC’s construction.
The development will follow provisions of Development Control Regulations 2034 and Unified Development Control and Promotion Regulations 2020, it added.
Furthermore, MSRTC has been exempted from paying 50 per cent of revenue share to the government for commercial utilization of these plots it said, adding the final decision on BOT tenders will be made directly at the corporation level.
Shiv Sena MLA Bharat Gogavale, who took charge as MSRTC’s 24th chairman during the day, hailed the decision and said it will revive the state-owned corporation.
“MSRTC has been developing lands on BOT basis to earn revenue. But in the last 20-22 years the scheme did not received the expected response as lease period of 30 years is too short. In the last two decades, only 48 projects have been completed on BOT basis,” Gogavale said.
“With the increase in the lease period to 60 years, some 1500 hectares of MSRTC land can be developed. Presently, development of 100 projects under this scheme is under consideration. Tenders of 20 viable projects will be issued soon,” he added. PTI KK KK BNM
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