The Maharashtra State Road Development Corporation (MSRDC) intends to lease two plots, one in Pune's Mangalwar Peth area and another in Lodhivali, Raigad district, both spanning around 87 acres, for a 60-year contract. They anticipate raising over Rs 358 crore through lease rent and a one-time premium. The Pune plot, conveniently located near the airport and railway station, is 8,900 sq mts, with expected lease rent of Rs 53.40 crore and a one-time premium of Rs 120 crore. The Lodhivali plot, close to industrial zones, spans 345,950 sq mts and aims for Rs 20.75 crore lease rent and a one-time premium of Rs 164 crore.
The Maharashtra State Road Development Corporation (MSRDC) is embarking on an ambitious plan to lease two sizable plots of land, both spanning around 87 acres, in the Pune and Raigad districts of Maharashtra. These land parcels are intended to be leased for a substantial 60-year contract, with the aim of generating substantial funds for infrastructure development projects in the state. MSRDC, known for its primary focus on infrastructure construction in Maharashtra, envisions raising over Rs 358 crore through a combination of lease rent and a one-time lease premium for these plots.
The first of these plots is situated in Pune, in the Mangalwar Peth area, strategically located in close proximity to both the Pune airport and railway station. This land parcel encompasses an area of 8,900 square meters, which is slightly over 2 acres. MSRDC anticipates that over the course of the 60-year agreement, they will generate a significant lease rent amounting to Rs 53.40 crore. Additionally, as specified in the tender document released by MSRDC, the lessee will be obligated to pay a one-time lease premium of Rs 120 crore to the lessor, which in this case is MSRDC itself.
Moving on to the second plot in Lodhivali, a town nestled in the Raigad district, it is located approximately 15 kilometres away from the Kalamboli railway station. What makes this location particularly appealing is its close proximity to the bustling Patalganga industrial zone. The land parcel here spans a much larger area, measuring around 345,950 square meters, or roughly 85 acres. MSRDC has set its sights on generating a lease rent of Rs 20.75 crore over the 60-year lease term for this plot. Similarly to the Pune plot, the lessee will also be required to make a substantial one-time lease premium payment of Rs 164 crore to MSRDC.
One notable aspect of these lease agreements is that the lessee will need to navigate the intricacies of dealing with local planning authorities and adhering to regulatory requirements when planning and executing activities on these plots. In the case of the Pune land parcel, the Pune Metropolitan Region Development Authority (PMRDA) will act as the planning authority, overseeing and regulating development in the area. On the other hand, for the Lodhivali land parcel, MSRDC itself will assume the role of the planning authority, ensuring that any activities undertaken on the site align with established regulations and guidelines.
In conclusion, MSRDC's decision to lease these two substantial land parcels in Pune and Raigad district showcases their innovative approach to funding infrastructure projects. It not only highlights the value of these strategic locations but also underlines the corporation's commitment to fostering economic growth and development in the state of Maharashtra. These lease agreements have the potential to bring significant investment and opportunities to the region, further solidifying Maharashtra's position as a hub for business and industry.
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