Maharashtra's Infra Boost: MSRDC To Lease Mumbai-Pune Expressway Land Parcels To Fund Big Projects

The Maharashtra State Road Development Corporation (MSRDC) is embarking on a significant initiative to generate revenue by leasing land parcels situated along the Pune-Mumbai expressway.

The MSRDC has carried out the corridor planning and Techno-Economic Feasibility report for the land development along the Mumbai - Pune Expressway. The sites are identified for the development of the Road Side Facility in a Profitable and Environmentally sensitive manner for commercialisation. 

A senior official from MSRDC recently disclosed that they have identified 24 such land parcels along the expressway, totalling approximately 450 hectares, which will be leased to fund crucial infrastructure projects.

These projects include the Samruddhi Expressway, Pune Ring Road, Virar-Alibaug multimodal corridor, and Jalna Nanded Expressway, among others.

The plan involves leasing the land for an extended period of 99 years to secure financing for these infrastructure projects.

Radheshyam Mopalwar, the Managing Director of MSRDC, has confirmed that this strategy is currently being implemented in Pune and Raigad districts, where the land parcels are located.

Explaining the rationale behind the decision, Mopalwar stated, "The land parcels owned by MSRDC were lying vacant, so we have taken the decision to monetize them to support our key projects."

One of the senior officials engaged in the land acquisition process revealed that a tender has already been floated for the land parcel in Panvel, and a similar one will be issued for Pune in the near future.

In the Pune district, MSRDC possesses approximately 189 hectares of land, while in Raigad, they have 262 hectares that will be available for leasing. The funds generated through this endeavour will be channelled towards expediting the progress of various major projects. These land parcels are spread across 12 villages in both districts.

It's worth noting that some of these land parcels are owned directly by the corporation, while others have been assigned by the government to raise funds for vital infrastructure projects. The plan is to invite tenders for long-term leases. Given the proximity of these land parcels to the expressway, opportunities exist for developing wayside amenities or residential constructions, as per the officials.

Investors have shown interest in wayside amenities along highways, considering them as promising investment opportunities, reports the Economic Times.

MSRDC possesses an extensive portfolio of 30 land parcels, collectively spanning over 1,100 acres throughout the state.

Additionally, MSRDC has also been entrusted with the planning and development of areas encompassing 71 villages in Panvel and Khalapur Taluka in Raigad district, further underscoring their commitment to infrastructure development and land monetisation.

Pune-Mumbai expressway

It spans a distance of 94.5 km connecting Mumbai and Pune.

It is India's first access-controlled expressway that has six-lane concrete pavement. The expressway passes through the Sahyadri ranges with natural scenic beauty. In order to provide easy facilities for entering or exiting the expressway 5 interchanges are provided at Kon, Chowk, Khalapur, Kusgoan and Talegoan. The Expressway was opened to traffic and made fully operational from April 2002. 

The average number of vehicles plying on the expressway per day is about 12,000.