MSRTC shifts gears with 98-year leasing policy for its bus stands

Looking to steer itself out of the red, the Maharashtra State Road Transport Corporation (MSRTC) is rolling out a fresh plan to give its bus stands a makeover across the state.

- Saurabha Kulshreshtha

MUMBAI:

The plan is to increase the period for which it leases its bus stands under the public-private-partnership (PPP) model, from 60 years to 98 years, thus creating a stable revenue stream.

To sweeten the deal, the department also wants to offer private players redevelopment rights in exchange for a share of this space, instead of charging them a premium for the right to commercially exploit the leased area. The corporation would then lease this space, earning consistent revenue.

MSRTC has been the backbone of intra-state road transport, offering affordable rates for the last 70 years. But the concessions it offers have come at a huge cost. The corporation's accumulated losses mounted to ₹10,300 crore during this period.