Mumbai, Aug. 27 -- The Maharashtra State Road Development Corporation (MSRDC) plans to lease out prime plots in south Mumbai, Bandra and along the Mumbai-Pune Expressway to raise funds for the Rs55,332-crore Mumbai-Nagpur Expressway, which is widely seen as chief minister Devendra Fadnavis' pet project.

The corporation has already invited an expression of interest (EOI) for leasing out a 1.54-acre land parcel at Nepean Sea Road for 60 years. The market value of the plot, according to real estate experts, is around Rs550 crore. MSRDC plans to follow a similar process to lease out land in Bandra and along the Mumbai-Pune Expressway in the future.

The monies generated will be offered to a consortium of nationalised banks - led by the State B...