Mumbai Port Authority to lease 28 plots of over 217 acres in Mumbai and Alibaug, raise over ₹800 crore annually
These plots are located in areas like Wadala, Sewree, Reay Road, P'Dmello Road, Colaba, Fort, Mazgaon, Sasson Dock, Mallet Bunder and near Thal beach in Alibaug, according to the notice issued by the port authority.
By leasing these properties, the MbPA hopes to raise over ₹800 crore in revenue annually. The Port Authority published an Expression of Interest (EOI) on August 11, offering 28 properties on 215 acres, 27 plots in Mumbai and one in Thal in Raigad district, according to a report by Hindustan Times. The last date for submission is September 11.
Also Read: Mumbai real estate market: Should you buy an apartment on leasehold or freehold land? Netizens weigh in
Port Authority to permit only industrial and commercial use of the plots
The EOI states that the plots will not be allotted for residential purposes, and the authority will permit only industrial and commercial use of the plots for a 30-year lease.
The Mumbai Port Authority is one of the biggest landlords among the state and central government agencies.
Several government agencies like the National Textiles Corporation, Maharashtra government, the Central government, Central Railway, Western Railway also own a significant portion of land parcels in the city.
Also Read: Six landlords who control more than 10% of Mumbai's land
The 28 plots being leased by the Mumbai Port Authority (MbPA) include several key parcels: a 22-hectare plot at Princess Dock near the domestic cruise terminal; a 29-acre site in Wadala that formerly housed a Hindustan Petroleum Corporation Limited (HPCL) facility; a 10-acre plot previously used by the Food Corporation of India (FCI) as a warehouse in Wadala; 25 acres of land at the Sewri Timber Pond; and a cargo storage yard located near the Mumbai Trans Harbour Link (MTHL).
The lease also includes various MbPA-owned buildings along the city's eastern waterfront, according to the Expression of Interest (EOI) issued by the Port Authority.
Also Read: Mumbai real estate: Where can you buy a second home close to the financial capital with a ₹50 lakh budget?
Eastern Waterfront plan put under cold storage?
In December 2018, the MbPA was appointed as the Special Planning Authority (SPA) for the development of the 966-hectare Eastern Waterfront at the centre of this grand design. A committee headed by then-MbPA chairperson Sanjay Bhatia released a draft development plan for public scrutiny. It was later finalised but put in cold storage, according to a report published in the Hindustan Times.
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