Mumbai Port Authority Leases 217 Acres 28 Plots Commercial

Mumbai Port Authority's Bold Move: Leasing 217 Acres in Prime Locations

The Mumbai Port Authority (MbPA) is set to lease 28 prime plots spanning over 217 acres along Mumbai's eastern waterfront and Alibaug's coast. Known as the Eastern Waterfront area, these lands sit at strategic commercial and industrial hubs, promising transformative growth for the region.

Among the 28 plots, 27 are scattered across vital Mumbai locations including Wadala, Sewree, Reay Road, P'Dmello Road, Colaba, Fort, Mazgaon, Sasson Dock, and Mallet Bunder, while one plot lies near Thal Beach in Alibaug. The plots are being offered on a 30-year lease with an exclusive focus on commercial and industrial uses, explicitly disallowing residential developments.

The Port Authority's leasing initiative aims to generate an annual revenue exceeding ₹800 crore, marking a significant financial boost aligned with Mumbai's growth prospects. This comes amid Mumbai's booming real estate market, reflecting the increasing demand for well-placed commercial spaces.

Key Land Parcels and Strategic Importance

Among the notable plots is a vast 22-hectare site at Princess Dock adjacent to the domestic cruise terminal, a former Hindustan Petroleum Corporation Limited (HPCL) facility covering 29 acres in Wadala, and a 10-acre warehouse area previously used by the Food Corporation of India (FCI) also in Wadala. Additionally, the 25-acre expanse at Sewri Timber Pond and a cargo storage yard near the Mumbai Trans Harbour Link (MTHL) underscore the strategic nature of these assets.

These leased plots also include several MbPA-owned buildings along the city’s eastern waterfront, strengthening the Authority's portfolio of commercial properties.

Broader Context and Future Vision

The Mumbai Port Authority is one of India’s largest landlords with extensive holdings under state and central government entities, including the National Textiles Corporation and various railway departments. This leasing move is part of a larger plan to unlock Mumbai's valuable land resources for industrial and commercial development.

The Eastern Waterfront Development Plan, conceived in 2018 and entrusted to MbPA as the Special Planning Authority, aims to transform this 966-hectare coastal expanse into a vibrant economic zone. Though the plan was finalized, it currently remains on hold, making this leasing initiative a significant step forward for activating parts of the vision.