Mumbai Metro Unveils Strategic Land Monetization Plan Across Prime Locations

Mumbai Metro Rail Corporation (MMRCL) was reportedly exploring options to monetize land parcels across four strategic locations in Mumbai's southern and central districts, according to sources familiar with the development. The corporation, tasked with planning, designing, and executing metro projects in India's financial capital, was considering parcels in Byculla, Marol, Mahim, and Dharavi, totaling approximately 12,491 square meters along the Mumbai Metro Line 3 corridor.

Revenue Generation Through Strategic Partnerships

Sources indicated that MMRCL was evaluating various monetization strategies including strategic joint ventures, public-private partnerships (PPP), or outright sales. This initiative formed part of MMRCL's broader strategy to optimize land utilization and generate revenue streams to support Mumbai's expanding metro network.

This move followed an earlier attempt to auction a 4.2-acre prime land parcel in Nariman Point's business district through a global tender—the first such auction since the area emerged as a planned commercial zone in the early 1970s. However, the tender was reportedly cancelled in January after the Reserve Bank of India expressed interest in acquiring the plot to expand its headquarters.

Site-Specific Development Plans Byculla: Mixed-Use Development

The Jacob Circle plot in Byculla spanned 37,838 square feet and had been earmarked for joint development by MMRCL, the Home Guard, and the Police Department. After planned road widening initiatives, the net developable area stood at 15,047 square feet. The site was strategically located near Mahalaxmi Metro Station, Saat Rasta, and Eastern Express Highway.

Mahim: Former Tunnelling Site

The Mahim plot at Nayanagar, previously used as a metro tunnelling site, had been cleared of encumbrances. Former slum dwellers occupying the land had been relocated. According to Mumbai's Development Plan 2034, the land was designated for institutional use, potentially accommodating educational or research facilities.

Marol: Commercial High-Rise

In Andheri East, MMRCL was planning to develop a commercial ground-plus-10-storey structure on the 895.5-square-meter plot above Marol Naka Metro Station on a PPP basis. Dharavi: Transit-Adjacent Development In Dharavi, the corporation was offering a smaller but significant land parcel measuring 420 square meters for development. While the gross area was 4,805 square meters, much of it was occupied by metro infrastructure.

The site was adjacent to the upcoming Dharavi Metro Station and accessible via Mahim-Sion Link Road. The selected transaction advisors would be responsible for structuring the deals, conducting financial appraisals, and assisting in the bidding process, with financial bids from MMRCL's empanelled consultants expected to be submitted within the week.

Disclaimer: This news article contains information based on reports from sources familiar with the matter. Details regarding development plans, timelines, and monetization strategies may be subject to change. Readers are advised to verify information through official channels before making any investment decisions related to the mentioned properties.