- By Yashashvi Tak
- Thu, 08 May 2025 12:38 PM (IST)
- Source:JND
The Maharashtra Government approved to convert over 2.1 lakh square metres of leasehold land into freehold for Maharashtra Metro, clearing the way for commercial development such as affordable housing, hospitals and educational institutions, officials said on Wednesday.
The decision was taken in the last week of April which will support metro projects in Nagpur, Pune, and Pimpri-Chinchwad, operated by Maha Metro, the state-run agency responsible for developing modern metro rail systems outside Mumbai.
A senior state government official said the land, previously leased to Maha Metro for 30 years, will now be transferred to the agency on an unconditional ownership basis. This move will enable Maha Metro to commercially develop the land and generate revenue to meet its financial commitments, including loan repayments.
“A total of 2,10,755 square metres of land will be handed over. This includes 1,43,916 sq. metres in Pune, 19,998 sq. metres in Pimpri-Chinchwad, and 46,841 sq. metres in Nagpur,” the official added.
According to a government order, Maha Metro will receive eight land parcels from the Nagpur Municipal Corporation and 12 from the Nagpur Improvement Trust, in addition to 20 parcels from the Pune Municipal Corporation and eight from the Pimpri-Chinchwad Municipal Corporation.
The approval comes in response to a request from Maha Metro, which is tasked with repaying international loans for phase one of its mass transit projects in Nagpur and Pune, in addition to covering operational and maintenance expenses.
“To make the projects financially viable, commercial use of land is crucial. Only 50 per cent of revenue comes from passenger fares. The rest must come through commercial development,” a Maha Metro official said.
Further they added that converting the land to ownership will enable projects such as affordable housing near metro stations, the development of ‘walk-to-work’ solutions, and the establishment of educational institutes like skill development centres to train youth for employment.