Local Press Co 5-point Snippet
1. In a bid to increase revenue, Brihanmumbai Electric Supply and Transport system (BEST) is now planning on leasing or offering some of it’s land to private companies.
2. The BEST’s immovable assets include 30 bus station, 29 bus depots and 12 staff quarters. The undertaking plans on leveraging the space to generate revenue without affecting their primary function.
3. During the BEST committee’s meeting on Wednesday, the stakeholders finalized consultants who will study all 71 properties and determine the best way of monetizing the assets. Initial plans include offering parking space to state transport buses, allowing private vehicles to use the space and so on.
4. About the development, Jagdish Patil, General Manager, BEST told Indian Express, “Facilities like installing ATVMs, building more staff quarters for BEST employees and adding housing properties on the land are being planned. Besides, utilising the space to keep bunker beds bus drivers’ rest, build more toilets and other passenger amenities are also under consideration. The land will be given for development to private entities for a period of 10-15 years. BEST will remain the owner of the land,”
5. The consultants, PricewaterhouseCoopers Limited and Aakar Architects and Consultants, will conduct a detailed study and present the undertaking with an optimal revenue plan in eight months time. Although the decision to appoint professionals was welcomed by most, some members considered it an unnecessary expense which will only add to its existing losses.Back to latest news