November 07, 2025: The Mumbai Metropolitan Region Development Authority (MMRDA) has invited bids to lease a prime 10,860 sq. m (approximately 2-acre) commercial plot in Wadala, with a reserve price of Rs 1,629 crore. The tender marks MMRDA’s first major step toward unlocking the commercial potential of the Wadala Notified Area, envisioned as Mumbai’s third central business district (CBD) after Bandra-Kurla Complex (BKC) and Nariman Point. The last date for bid submission is January 7, 2026.
The plot, offering a permissible built-up area of 1,08,600 sq. m and a floor space index (FSI) of 10, will be leased to generate additional non-fare revenue for the authority. With BKC’s land parcels almost exhausted, MMRDA is now focusing on monetising land outside the complex to support ongoing infrastructure projects across the Mumbai Metropolitan Region.
Originally, the Maharashtra government had leased 126.6 hectares in Wadala to MMRDA in 1984 for a truck terminal aimed at decongesting south Mumbai. However, in 2010, after the truck terminal’s relocation was proposed to Mankhurd and beyond, the area was earmarked for redevelopment into a mixed-use business district.
After becoming the Special Planning Authority for Wadala in 2005, MMRDA prepared new planning proposals and Development Control Regulations (DCRs), which were sanctioned in 2010 with a global FSI of 4. Factoring in enhanced infrastructure — including the Monorail, Metro Line 4, the Eastern Freeway, Anik Bus Depot, and the proposed Inter-State Bus Terminal — the revised layout was approved by the state government in 2019.
Strategically located between the Eastern Freeway and Atal Setu, Wadala offers multimodal connectivity by road, metro, and rail. Industry experts expect strong investor interest, particularly after Sumitomo’s Rs 2,238-crore BKC land acquisition earlier this year. With BKC’s land bank nearing depletion, Wadala is now emerging as the next epicentre of Mumbai’s commercial growth.
Source: The Times of India
