MSRDC to monetise land parcels to fund future infra projects

According to sources, the Corporation is willing to lease out its land for a period of 99 years in most of the cases. In some cases, it plans to jointly develop the lands or even sell them off

MUMBAI: To fund its future infrastructure projects, the Eknath Shinde-led Maharashtra State Road Development Corporation (MSRDC) has decided to lease out or sell land owned by it. According to sources, the Corporation is willing to lease out its land for a period of 99 years in most of the cases. In some cases, it plans to jointly develop the lands or even sell them off.

MSRDC to monetise land parcels to fund future infra projects

“We are planning to monetise the land parcels,” confirmed Anilkumar Gaikwad, vice-chairman and managing director, MSRDC. “The mode will be decided based on the recommendations of our consultants, whom we are in the process of appointing. This is being done to support future projects.”

MSRDC was appointed by the state government as the special planning authority for various strategic regions such as 19 growth centres along the Mumbai-Goa Expressway, two growth centres along the Pune Outer Ring Road, 18 development nodes along the Samruddhi Mahamarg, Amne Node with Extension (a planned industrial hub along the Samruddhi Expressway near Kalyan and Bhiwandi), proposed 17 growth centres along the proposed Shaktipeeth Highway, 102 villages along the Mumbai-Pune Expressway, new Mahabaleshwar covering 529 villages and Radhanagari covering 84 villages in Kolhapur.

Currently, the agency has undertaken six major projects on a priority basis, which will require around ₹1.70 lakh crore to complete. They are the 802-km Nagpur-Goa Shaktipeeth Expressway costing ₹86,358.90 crore, the 126-km Virar-Alibaug Multimodal Corridor estimated to be worth ₹55,000 crore, the 191-km Nagpur-Chandrapur Expressway with an estimated cost of ₹21,702 crore, the 104.8-kilometre high-speed freight corridor connecting the Vadhavan Port to the Mumbai-Nagpur Expressway at an estimated of ₹4,029 crore, the 162-km Nagpur-Gondia Expressway project with an estimated cost of ₹3162.18 crore and the 95-km Bhandara-Gadchiroli Expressway with an approximate cost of ₹931.15 crore.

MSRDC has floated tenders to appoint consultants, who will undertake a comprehensive macro-level study of all the land parcels. “The study will serve as the foundational phase for identifying, evaluating, and prioritising all land parcels and development opportunities that fall within MSRDC’s purview,” said a senior MSRDC official. “Our objective is to establish a prioritisation matrix aligned with MSRDC’s development vision, strategic objectives, and investment priorities.”

The consultants will review and evaluate all existing and under-evaluation planning proposals available with MSRDC. They will assess these proposals in line with the broader development vision, policies, and strategic goals, and also review all previously prepared land-use plans for the identified land parcels.

They will further provide a comprehensive description of the project location, including geographic positioning, administrative boundaries, and relation to key urban centres; analyse the surrounding land use patterns, existing infrastructure, major landmarks, ecological buffers, and heritage or protected sites; evaluate connectivity and access, including current and proposed road networks, public transportation nodes, and multimodal linkages to highways, airports, railways, and urban centres.