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MSRDC looks to monetise land parcels in Mumbai

Monday, 29 Jul 2019
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The Maharashtra State Road Development Corporation (MSRDC) will float an expression of interest (EoI) for the proposed parcels of land that are to be monetised to raise funds for its major projects.

The land near the Bandra-Worli Sea Link will be the first of 20 parcels of land that will be monetised. The land span is around 23 acre. MSRDC has 20 lands which will be leased out as per requirements. MSRDC has appointed Jones Lang La Salle (JLL) agency as consultant for the land monetisation.

The second land has already been given on lease for the Mumbai Metro work, which will expire soon. There is a third land parcel, 1.5 acre land parcel on Napean Sea Road, which will also be up for monetisation in near future. As per the new Government Resolution (GR), these lands will be given on lease for 60 to 90 years.

Land will be given out on lease in parcels in order to ensure that none could own the entire land.

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