The MSRDC is set to monetize 24 land parcels along the Pune-Mumbai expressway to fund major infrastructure projects like the Samruddhi expressway, Pune Ring Road, and others. These 450 hectares of land will be leased for 99 years, offering a sustainable revenue source. MSRDC possesses 189 hectares in Pune and 262 hectares in Raigad, with some land parcels owned by the corporation and others designated by the government. Tenders have already been floated, providing opportunities for developers to create amenities or residential complexes near the expressway, aligning with the growing trend of wayside investments.
The Maharashtra State Road Development Corporation (MSRDC), a key player in executing large-scale infrastructure projects across the state, is embarking on a strategic move to unlock the value of its land holdings flanking the Pune-Mumbai expressway. A high-ranking MSRDC official recently disclosed that a total of 24 land parcels situated along this expressway have been meticulously identified for this purpose. These land parcels, spanning an impressive 450 hectares in total, will be strategically leased to raise essential capital for vital infrastructure ventures. Among the projects that stand to benefit from this innovative financing strategy are the high-impact Samruddhi Expressway, the Pune Ring Road, the Virar-Alibaug multimodal corridor, and the Jalna Nanded expressway, among others.
What distinguishes this initiative is the long-term leasing arrangement. MSRDC intends to lease these land parcels for a period of 99 years, creating a sustained revenue stream that can be channelled into driving these infrastructure projects forward. According to Radheshyam Mopalwar, the Managing Director of MSRDC, this ambitious plan is being initially implemented in the Pune and Raigad districts, focusing on leasing lands situated along the expressway. Mopalwar further explained the rationale behind this strategic manoeuvre, emphasizing that the MSRDC-owned land parcels had remained largely underutilized, prompting this decision to extract maximum value from these strategic assets.
The process of bringing these land parcels to market has already commenced, with a tender floated for one such parcel in Panvel and similar plans in the pipeline for Pune. In Pune district, MSRDC has at its disposal an impressive 189 hectares of land, while in Raigad, this figure stands at a substantial 262 hectares. The revenue generated from these leases will be earmarked for the acceleration of the major infrastructure projects earmarked for these regions. What adds complexity and depth to this initiative is the diversity of the land parcels in question. While some are owned outright by the corporation, others have been allocated by the government, aligning with the broader objective of sourcing funds for critical infrastructure projects.
The intended strategy involves issuing tenders for long-term leases, capitalizing on the proximity of these land parcels to the expressway. Developers may seize this opportunity to establish wayside amenities or residential complexes, a trend that is gaining momentum, particularly along highway corridors. Investors recognize the burgeoning potential of wayside amenities along highways, with a Pune-based investor who has already ventured into this space affirming the value proposition of MSRDC's land parcels. These strategically located parcels can significantly facilitate investments in this burgeoning sector.
MSRDC, a key player in the state's infrastructure development landscape, boasts an impressive portfolio comprising around 30 parcels encompassing over 1,100 acres spread across various regions of the state. Additionally, the corporation shoulders the pivotal responsibility of planning and developing areas that encompass a substantial 71 villages in Panvel and Khalapur Taluka within the Raigad district. This multifaceted approach underscores the MSRDC's commitment to advancing infrastructure development and unlocking the latent potential of its strategic assets.
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