The Mumbai Metropolitan Region Development Authority (MMRDA) is preparing to auction a marquee commercial land parcel in Wadala, marking its return to land monetisation after nearly 15 years. Expected to fetch around ₹1,629 crore, the move signals MMRDA’s intent to establish Wadala as Mumbai’s next major business district as Bandra-Kurla Complex (BKC) approaches full capacity.
Spread over approximately two acres (10,860 sq. m), the plot offers a generous permissible built-up area of 1,08,600 sq. m with a Floor Space Index (FSI) of 10. The lease period has been fixed at 80 years, and the reserve rate stands at roughly ₹1.5 lakh per sq. m. Bids will remain open until January 2026, providing a competitive window for developers and institutional investors seeking premium commercial opportunities in the city’s evolving real estate landscape. Officials said the auction reflects MMRDA’s broader strategy to optimise underutilised public land and raise funds for ongoing infrastructure works, including metro lines and urban transit corridors. The Wadala site, originally earmarked for a truck terminal in the 1980s, has seen multiple masterplan revisions to align with Mumbai’s growing demand for integrated commercial zones.
In 2019, the state government approved a revised layout that positioned Wadala as a potential third Central Business District (CBD) — following Nariman Point and BKC. The plan allows for mixed-use development under the Development Control Regulations (DCR) 2019, including office spaces, hotels, retail complexes, healthcare institutions, and cultural facilities. Urban planners view this shift as both strategic and sustainable. “Wadala has proximity to multiple transport links — the Eastern Freeway, the Mumbai Monorail, Metro Line 4, and the upcoming Atal Setu — which can reduce private vehicle dependence and promote transit-oriented development,” an industry expert noted.
The location’s connectivity is expected to attract large corporates and technology-driven enterprises seeking greener, well-connected workplaces. Analysts anticipate high interest following the recent record-setting land transaction by a Japanese developer in BKC, which reaffirmed investor confidence in Mumbai’s premium commercial segment. MMRDA’s approach aligns with the city’s evolving planning ethos — leveraging public land not just for fiscal returns, but to foster inclusive and low-carbon urban growth. If executed effectively, the Wadala redevelopment could showcase a new model of mixed-use business districts that balance economic expansion with sustainable mobility and urban liveability.
MMRDA Announces Rs 1,629 Crore Wadala Land Auction To Develop New Business Hub
