No bidders for Rs 1,629

The Mumbai Metropolitan Region Development Authority’s (MMRDA) attempt to attract investors to its proposed commercial hub in Wadala has hit a roadblock, no bids have been received for a prime land parcel valued at Rs 1,629 crore.

In November last year, the MMRDA invited bids for leasing out Plot No.

40 in the Wadala Notified Area for 80 years.

The plot, measuring 10,860 sq m, was offered with a floor space index (FSI) of 10, allowing a built-up area of 1,08,600 sq m.

The authority fixed a reserve price of Rs 1,629 crore, translating to roughly Rs 1.5 lakh per square metre of built-up area.

With the aim of maximising revenue from its land bank, the MMRDA extended the bid submission deadline twice — first from January to February and then from February to March.

However, no bids were received by the final deadline of March 9, officials said.

“We are studying the reasons behind the lack of response and will soon decide on the way forward, including whether the plot should be retendered,” said MMRDA Metropolitan Commissioner Sanjay Mukherjee.

The Wadala Notified Area is part of the MMRDA’s long-term plan to develop a new commercial district similar to the Bandra-Kurla Complex (BKC).

The authority was allotted 126.64 hectares of land in the area by the state government in 1984.

Currently, a large portion of the land houses truck terminals, which are planned to be phased out to make way for commercial development.

Connectivity to the area is expected to improve in the coming years with upcoming metro corridors.

Metro Line 4 will link Wadala to Thane and the eastern suburbs, while Metro Line 11 will connect it to southMumbaias well as BKC, Dharavi and Bandra.

With limited land parcels left to monetise in BKC, the MMRDA has increasingly turned its focus to developing Wadala as the region’s next major business district.

Revenue generated from leasing such land parcels is expected to support the authority’s infrastructure investments across the Mumbai Metropolitan Region, where projects worth over Rs 48,000 crore are currently underway.

To further boost land-based revenue, the MMRDA has also requested the state government to transfer vacant land parcels across the region to the authority so they can be monetised alongside new infrastructure projects.

Sabah Virani is a journalist with The Indian Express’ Mumbai bureau, covering infrastructure, housing and urban issues.

In the realms of technical fields, she brings out human stories and the pace of change ongoing in the city.

Specialised Role: Tracking infrastructure in Mumbai and the wider Mumbai Metropolitan Region (MMR), Sabah’s reporting tracks progress on various projects.

From bridges to metros, she mixes technical details with resourceful information.

Core coverage areas: Sabah keeps a close eye on the activities of the Mumbai Metropolitan Region Development Authority (MMRDA) and its projects across the MMR, including the metros, road projects, bridges, the bullet train, pod taxi, its role as a planning authority, and more.

She also watches for developments from the Maharashtra State Road Development Corporation (MSRDC), City and Industrial Development Corporation of Maharashtra (CIDCO) and the GoM’s Urban Development department.

Housing: Sabah also tracks developments in housing, particularly the workings of the Slum Rehabilitation Authority (SRA).

She also keeps a keen watch on the big redevelopment projects ongoing in Mumbai, including the Dharavi Redevelopment Project, Motilal Nagar, Kamathipura, BDD Chawl redevelopment, among others.

Occasionally, she reports on the environment, biodiversity, waste, arts and culture.

Experience: Prior to working for the Indian Express, Sabah covered the municipality, civic issues and miscellaneous for Hindustan Times.

Before that, she covered all things Mumbai for the online publication Citizen Matters.

She has also worked as an editorial assistant at FiftyTwo.in....

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