Latest news with #MbPA-owned
Time of India
3 days ago
- Business
- Time of India
Commercial hub makeover on the cards for Mumbai's eastern waterfront as port authority invites proposals to lease 28 plots
Mumbai: The city's eastern waterfront may soon host corporate, business, trade and IT parks, besides state-of-the-art warehouses and godowns. Mumbai Port Authority (MbPA) plans to lease out 28 plots totalling over 217 acres near the sea on the east coast of Mumbai and Raigad district, for a period of 30 years for commercial and industrial purposes to earn Rs 814 crore annually. These plots are located in areas like Wadala, Sewri, 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. MbPA owns a large stretch of coastal belt spanning nearly 28km from Colaba end to Wadala. According to sources, the commercial and industrial development will also ensure facilities around tourism, recreation, and entertainment, including a marina, amphitheatre, and large landscapes. The plan, however, does not include residential permissions. On Monday, MbPA published an expression of interest offering the 28 properties — 27 in Mumbai, and one in Thal in Raigad district. The lease also includes MbPA-owned buildings along the city's eastern waterfront, according to the EOI. The last date for submission of bids is Sept 11. You Can Also Check: Mumbai AQI | Weather in Mumbai | Bank Holidays in Mumbai | Public Holidays in Mumbai | Gold Rates Today in Mumbai | Silver Rates Today in Mumbai "Nearly 70% of MbPA cargo is liquid-like chemicals and petroleum; hence warehousing, godowns, and industrial & commercial activities have been the priorities," said sources. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Indonesia: New Container Houses (Prices May Surprise You) Container House | Search Ads Search Now Undo In Dec 2018, MbPA was appointed as the special planning authority for the development of the 966-hectare Eastern Waterfront into a world-class hub focused on tourism, recreation, entertainment, a marina and commercial spaces. A committee headed by then-MbPA chairperson Sanjay Bhatia had released a draft development plan for public scrutiny. The draft plan was finalised, but later put in cold storage. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
Hindustan Times
3 days ago
- Business
- Hindustan Times
Mumbai Port Authority to lease 28 plots of over 217 acres in Mumbai and Alibaug, raise over ₹800 crore annually
The Mumbai Port Authority (MbPA) plans to lease 28 plots of over 217 acres near the sea on the east coast of Mumbai, including Alibag, also known as Eastern Water Front. The port trust will lease these land parcels for a period of 30 years for commercial and industrial purposes in order to raise over ₹800 crore. Mumbai real estate update: The 27 plots located in Mumbai are in areas like Wadala, Sewree, Reay Road, P'Dmello Road, Colaba, Fort, Mazgaon, Sasson Dock, Mallet Bunder. (Picture for representational purposes only)(Mehul R Thakkar/HT) 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.
