BEST Unveils ₹28,000-Crore Plan To Redevelop 22 Mumbai Bus Depots

Mumbai's Brihanmumbai Electricity Supply and Transport (BEST) undertaking has proposed a massive ₹28,000-crore transformation plan to revive its finances and modernise its transport infrastructure.

The plan involves redeveloping 22 bus depots across Mumbai into integrated urban hubs, while retaining them as operational bus terminals. The project will be executed through the Design, Build, Finance, Operate and Transfer (DBFOT) model under a Public-Private Partnership (PPP), with ownership of the land continuing to remain with BEST.

BEST owns 27 bus depots spread across 7.70 lakh sq. m. of land with a built-up area of 2.51 lakh sq. m. Of these, 22 depots have been identified for redevelopment. The proposal was approved by the BEST Committee and will now be sent to the Brihanmumbai Municipal Corporation (BMC) before being placed before the Maharashtra Cabinet for final approval.

The redevelopment plan aims to create educational institutions, hospitals, public parking facilities and other social infrastructure, while generating sustainable revenue. BEST General Manager Sonia Sethi said the project is part of the overall transformation of BEST and will create better staff housing, public amenities and parking facilities.

According to the proposal, BEST is burdened with an accumulated deficit of ₹7,322 crore and total liabilities of ₹14,323 crore. Procuring and operating 5,000 self-owned buses, along with meeting employee-related commitments, will require another ₹13,561 crore, taking the total financial requirement to nearly ₹28,000 crore.

The undertaking plans to use the upfront premium received from developers to clear liabilities, settle employee dues and fund the purchase of self-owned buses. It also proposes creating dedicated Corpus and Recurring Funds to ensure long-term financial sustainability.

The plan has been modelled on transport-oriented developments in cities such as Singapore, Hong Kong, Paris and Stockholm. BEST has sought an increase in the permissible FSI from 1.3 to 7, similar to Metro-3 projects, to make the redevelopment financially viable.

The redevelopment of bus depots is expected to maximise the value of prime land parcels, while creating better staff housing, public amenities and parking facilities. The project is a significant step towards transforming Mumbai's transport infrastructure and ensuring the long-term financial sustainability of BEST.

The proposal is a major restructuring plan in BEST's history and is expected to have a significant impact on the city's transport infrastructure. With the project's approval, Mumbai can expect to see a major transformation in its bus depots, making them more efficient and sustainable.

In the long run, the project is expected to benefit the city and its residents, providing better transport facilities and amenities. The redevelopment of bus depots is a step towards creating a more modern and efficient transport system in Mumbai.

The project's success will depend on the effective implementation of the plan and the cooperation of various stakeholders. However, with the proposal's approval, Mumbai is one step closer to achieving its goal of creating a world-class transport infrastructure.

The transformation of BEST's bus depots is a significant development in the city's transport sector and is expected to have a positive impact on the city's economy and environment. With the project's implementation, Mumbai can expect to see a reduction in traffic congestion and pollution, making the city a better place to live.

In conclusion, the ₹28,000-crore plan to redevelop 22 Mumbai bus depots is a major step towards transforming the city's transport infrastructure. The project is expected to have a significant impact on the city and its residents, providing better transport facilities and amenities. With the proposal's approval, Mumbai is one step closer to achieving its goal of creating a world-class transport infrastructure.