After a hiatus of over 15 years, the Mumbai Metropolitan Region Development Authority (MMRDA) is set to auction a valuable 10,860 sq. mtrs. plot near the Wadala Truck Terminal.

This prime land parcel, part of the Wadala Notified Area, carries a reserve price of Rs 1,629 crore and will be leased for 80 years. With an FSI of 10, developers can build up to 1,08,600 sq. mtrs. of space, making it a highly lucrative opportunity. The reserve rate has been nearly finalised at Rs 1.5 lakh per sq. mtrs., reflecting high market expectations.

The site, governed by MMRDA’s 2019 Development Control Regulations, supports mixed-use development—permitting commercial and retail spaces such as offices, hotels, restaurants, cultural and educational centres, theatres, and indoor recreation zones. This strategy is intended to foster a vibrant, self-sustaining urban hub. “We plan to float the bid sometime next month,” confirmed Sanjay Mukherjee, Metropolitan Commissioner, MMRDA.