MMRDA has, in the past, used its land bank in prime areas of Bandra Kurla Complex (BKC) and Wadala as a cushion for it to be able to take on mega transport infrastructure works. A land bank is a reserve of land that is held by an authority for future development and as a source of revenue
With a majority of its land now already auctioned off and projects worth over Rs 1.19 lakh crore in the pipeline, the MMRDA is exploring new avenues to raise funds. These include acquiring tolling rights to Mumbai’s entry points, implementing transit-oriented development (which allows for a higher permissible construction area along mass transit corridors for a fee), and possibly securitising its assets
https://theprint.in/india/governance/as-land-bank-shrinks-mmrda-eyes-road-tolls-transit-oriented-development-to-fund-mumbai-infra/1504330/
Source: The Print
