November 13, 2025: The Mumbai Metropolitan Region Development Authority (MMRDA) has announced plans to lease a commercial plot measuring 10,860 sq m in Wadala, marking a significant step toward developing the city’s next growth corridor. The plot, offered with a reserve price of Rs 1,629 crore, permits a built-up area of 1,08,600 sq m under a floor space index (FSI) of 10.
Located within the Wadala Notified Area, the site is part of MMRDA’s larger vision to establish Mumbai’s third central business district (CBD) — after Bandra-Kurla Complex (BKC) and Nariman Point. The move comes amid growing constraints in the available land bank at BKC and the authority’s aim to unlock new commercial zones to sustain business expansion within the metropolitan region.
The Wadala land was originally leased to MMRDA in 1984 by the state government for a truck-terminal project designed to decongest South Mumbai. Over time, the authority assumed the role of Special Planning Authority for the area, preparing revised layouts and development control regulations. While the global FSI was earlier capped at 4 under the 2010 plan, the latest revision has increased it to 10, reflecting the push for high-density commercial development.
The revised master plan integrates major transport corridors, including the Monorail, Metro Line 4, the Eastern Freeway, and a proposed inter-state bus terminal — features expected to make Wadala one of the most well-connected business precincts in Mumbai.
By initiating the bidding process for this prime parcel, MMRDA aims to attract large-scale investments, generate non-fare revenue, and channel proceeds into wider infrastructure development across the Mumbai Metropolitan Region. Competition for the plot is expected to be intense, with the project’s success hinging on timely execution and Wadala’s emergence as a distinct and sustainable CBD in Mumbai’s evolving urban economy.
Source: Prop News Time
