Mumbai Metro's Land Goldmine: 12,491 Sq. Mtrs. Up For Grabs!

Mumbai Metro Rail Corporation (MMRCL) plans to monetise 12,491 sq. mtrs. of land across Byculla, Marol, Mahim, and Dharavi along the Metro Line 3 corridor. This will be executed through joint ventures, public-private partnerships (PPP), or outright sales to optimise land use and generate revenue for metro expansion.

Previously, MMRCL attempted to auction a 4.2-acre Nariman Point plot but withdrew the tender after the Reserve Bank of India (RBI) expressed interest in acquiring it for its headquarters. Now, MMRCL has invited financial bids from empanelled consultants to oversee the monetisation process.

At Byculla’s Jacob Circle, a 37,838 sq. ft. plot will be jointly developed with the Home Guard and Police Department, with 15,047 sq. ft. designated as net developable land post road-widening. The Mahim site at Nayanagar, now free of encumbrances, is designated for institutional use under Mumbai’s Development Plan 2034.

In Marol Naka, MMRCL plans a 10-storey commercial building on an 895.5 sq. mtrs. plot above the Metro station via a PPP model. A 420-sq. mtrs. parcel in Dharavi, part of a larger 4,805-sq. mtrs. metro infrastructure site, is also available for development.

Transaction advisors will structure deals, conduct financial appraisals, and assist in the bidding process.

News by Rahul Yelligetti.