Major Land Monetization Initiative Unveiled
The Mumbai Port Authority has introduced a bold asset monetization plan, aiming to generate nearly Rs 13,279.65 crore by leasing 28 strategically located land parcels. These properties stretch across Mumbai and the neighboring Raigad district, covering over 217 acres of prime coastal real estate.
Strategic Locations and Premium Assets
The parcels cover diverse locations, including Wadala, Sewree, Reay Road, Colaba, Fort, Mazgaon, and the prestigious Sassoon Dock area. One notable plot is near Thal Beach in Alibaug, extending the authority's reach into Raigad's coastal belt.
Among the most valuable assets, the Sassoon Dock RR 1455 plot stands out as the crown jewel, projected to fetch Rs 110.96 crore in upfront lease rent. Various smaller assets within this cluster, including specialized godowns and storage sheds, carry valuations ranging from Rs 4.67 crore to Rs 29.91 crore.
Lease Terms and Investment Opportunities
The authority offers 30-year lease periods through an e-tender-cum-auction system, with allotments determined by the highest premium quoted by bidders. These properties are designed for commercial, industrial, logistics, warehousing, hospitality, and institutional purposes, not for residential.
Revenue Projections and Market Impact
This initiative targets annual revenue exceeding Rs 800 crore, marking a substantial financial boost aligned with Mumbai's robust real estate growth. The strategic connectivity to Eastern Freeway, Mumbai Trans Harbour Link, airports, and major ports positions these assets as attractive propositions for long-term investors seeking premium commercial spaces in India's financial capital.