MMRCL gets 38k sqft Mahim plot on lease for commercial use, Real Estate News, ET RealEstate

December 31, 2023
1 min read
mumbai mmrcl gets 38000 sq ft mahim plot on lease for commercial use

<p>Representative Image</p>
Representative Image

MUMBAI: The Mumbai Metro Rail Corporation Limited (MMRCL) has been allotted a 38,650 square feet plot at Naya Nagar, Mahim, for commercial exploitation. The plot has been given on a 30-year lease.

In a Government Resolution issued on Thursday, the state revenue department said the land is being leased at a nominal rate, though it does not mention the rate. It mentions that the lease will be renewed on the same conditions. MMRCL can neither transfer nor sell the land. The GR further states that if the plot is in the Coastal Regulation Zone, then prior permission from the Mumbai Metropolitan Region Development Authority (MMRDA) is required.

MMRCL is executing the Metro Line 3 underground project and had initiated the construction of tunnel from this plot. R Ramana, Director (Planning and Real Estate), said the tunneling work here was complete and there is a venting shaft on the plot.

One of the conditions of the lease is for MMRCL to begin use of the plot as planned within three years. “We shall use the plot for revenue generation. We are yet to finalise the nature of development, whether a commercial and residential building, or to develop it as a hospital and give it out for operation,” said Ramana.

Activist Zoru Bhathena said MMRCL has not disclosed any concrete plans for restoring the tree cover at each of its 26 stations. “MMRCL had said it would restore 100% of the tree cover at every station. Today, it claims it is unable to do so. It can use the Naya Nagar plot to create a green cover for the area. The work here is completed and the tree can be planted,” he said.

  • Published On Dec 25, 2023 at 09:26 AM IST

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