Maharashtra Greenlights Land Ownership for Maha Metro Expansion

The Maharashtra government has sanctioned the transformation of over 2.1 lakh square metres of leasehold land into ownership for Maha Metro. This decision facilitates commercial use for projects like affordable housing, healthcare, and educational institutions, according to officials on Wednesday.

Approved in late April, this decision aids metro projects in Nagpur, Pune, and Pimpri-Chinchwad. Maha Metro, the state-run body responsible for the development of modern metro systems outside Mumbai, stands to benefit financially from this move, helping meet obligations like loan repayments.

A senior official mentioned that the land, previously leased to Maha Metro for 30 years, is to be transferred with ownership rights. This transfer includes several parcels from local municipal corporations, following a government order. This change could enhance the financial sustainability of Maha Metro's projects, as only half of its revenue comes from passenger fares, with the remainder needing to be generated through commercial development.

(With inputs from agencies.)