Transport Minister Pratap Sarnaik announced that the Maharashtra Government will soon open tenders to develop bus depots across the state on a long-term lease of 98 years. The lease will be structured as 49 years, extendable by another 49 years. He made the announcement while inaugurating the fourth edition of HOMETHON 2025, a three-day mega property exhibition organised by NAREDCO Maharashtra at the Jio World Convention Centre in Mumbai.
Speaking at the Real Estate Forum 2025, held on the sidelines of the property expo, Sarnaik said that the Maharashtra State Road Development Corporation (MSRDC) holds more than 13,000 acres of land at key locations including Kurla, Borivali, and other towns across the state. “To utilise these lands and redevelop the existing bus depots, the government has decided to extend the lease period from the earlier 30 years to 98 years. These ST bus depots will be developed as modern bus ports, similar to the model adopted in Gujarat,” he said.
Sarnaik urged the state’s real estate developers to actively participate in the upcoming tenders for the development of these depots.
He further revealed that the much-awaited pod taxi service will soon commence operations in Bandra-Kurla Complex (BKC) and later expand to other parts of the Mumbai Metropolitan Region, including Mira-Bhayandar and Thane.
Highlighting the government’s commitment to holistic development across sectors, Sarnaik stressed that real estate growth in semi-urban and rural regions will play a crucial role in boosting affordable housing.
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