Mahalaxmi Racecourse: A New Chapter Unfolds as RWITC Secures 91-Acre Lease
Mumbai's iconic Mahalaxmi Racecourse is getting a facelift, with 91 acres leased to RWITC and 300 acres to be transformed into a central park.
Mumbai Real EstateMahalaxmi RacecourseRwitcBmcCentral ParkReal Estate MumbaiJul 07, 2024
The RWITC will retain control of the 91 acres, where horse racing will continue, with a lease renewal period from June 1, 2023, to May 31, 2053. The lease agreement will be signed soon, finalising the handover process. The RWITC will pay a nominal rent of INR 1 for the open spaces they retain and a fee of INR 1,50,000 per day for any non-racing events held on their land.
The decision has sparked mixed reactions, with some Mumbaikars welcoming the creation of a new 300-acre green lung in the city, while others are critical of the division. Some residents and political leaders, like Aaditya Thackeray of Shiv Sena (UBT), believe the entire racecourse should be a public park, citing concerns that the move is a ploy to benefit private developers in the future.
The Maharashtra government has assured that \
Frequently Asked Questions
How many acres of Mahalaxmi Racecourse will RWITC retain?
91 acres
How many acres will be transformed into a central park?
300 acres
What is the lease renewal period for RWITC?
June 1, 2023, to May 31, 2053
Who will develop a world-class garden on the BMC's designated land?
BMC
What is the daily fee for non-racing events held on RWITC's land?
INR 1,50,000
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