MMRDA Set to Auction Prime Wadala Plot After 15-Year Hiatus, Aims for ₹1,629 Crore
After a gap of over 15 years, the Mumbai Metropolitan Region Development Authority (MMRDA) is set to auction a prime land plot near the Wadala Truck Terminal, with a reserve price of ₹1,629 crore. The 10,860 sq m plot, part of the Wadala Notified Area, will be leased for 80 years, aiming to attract major developers.
MmrdaWadalaReal EstateLand AuctionDevelopmentReal Estate MumbaiOct 19, 2025
“We plan to float the bid sometime next month,” confirmed Sanjay Mukherjee, Metropolitan Commissioner, MMRDA. According to MMRDA’s Development Control Regulations, 2019, the plot can accommodate a mix of commercial and retail developments, including offices, restaurants, hotels, shopping arcades, healthcare, cultural and educational facilities, and even theatres or indoor recreation zones. This mixed-use model is aimed at attracting major developers to create a self-sustained urban business and leisure district.
The upcoming auction marks MMRDA’s return to Wadala after a long hiatus. In August 2008, the agency had tried to lease out two smaller plots in the same area — one for a commercial complex and another for a multiplex — at reserve prices of ₹240 crore and ₹135 crore, respectively. However, the global financial crisis and a slump in the real estate market resulted in a tepid response. It was only two years later, in May 2010, that MMRDA’s next major auction — a 25,000 sq m plot at Wadala — saw a blockbuster outcome. The Lodha Group emerged as the highest bidder, quoting ₹4,053 crore (₹81,818 per sq m), double the reserve price. The project now stands as the New Cuffe Parade township. Other contenders included Sunteck Realty, Indiabulls Real Estate, and Dosti Group.
MMRDA serves as the Special Planning Authority not only for the Bandra Kurla Complex (BKC) but also for the Wadala Notified Area and other key business districts. With most prime plots in BKC already leased, the focus is shifting towards unlocking the potential of Wadala, seen as the next commercial hub in Mumbai’s evolving urban map. However, connectivity is one major challenge. Currently, BEST buses are the only mode of public transport to the area, as the Mumbai Monorail has been suspended for maintenance. MMRDA officials admit that developing transport links is critical before large-scale commercial activity takes off.
In order to address this, several metro projects are underway. The Metro 4 and 4A corridors will connect Wadala to Thane’s Ghodbunder Road, with full operations expected by April 2027. Meanwhile, Metro 11, linking Wadala to the Gateway of India, has recently received state cabinet approval and now awaits central clearance before tenders can be floated. The last major plot auctioned by MMRDA was in the Bandra Kurla Complex earlier this year, when 10 plots were offered for commercial, institutional, and recreational development. The response, however, was subdued — reflecting cautious investor sentiment amid high borrowing costs and uneven post-pandemic recovery.
Still, officials believe the Wadala plot, given its location, scale, and development potential, could reignite market interest. The proceeds from land monetisation are vital for MMRDA’s growing infrastructure ambitions. The authority is currently implementing multiple mega projects, including metro corridors, roadways, flyovers, and regional connectivity initiatives across the Mumbai Metropolitan Region.
Frequently Asked Questions
What is the reserve price for the Wadala plot auction?
The reserve price for the Wadala plot auction is ₹1,629 crore.
What is the permissible Floor Space Index (FSI) for the Wadala plot?
The permissible Floor Space Index (FSI) for the Wadala plot is 10.
When does MMRDA plan to float the bid for the Wadala plot?
MMRDA plans to float the bid for the Wadala plot sometime next month.
What are the major challenges in developing the Wadala area?
One of the major challenges in developing the Wadala area is connectivity. Currently, BEST buses are the only mode of public transport to the area, and the Mumbai Monorail has been suspended for maintenance.
What are the upcoming metro projects planned to improve connectivity to Wadala?
The Metro 4 and 4A corridors will connect Wadala to Thane’s Ghodbunder Road, and Metro 11 will link Wadala to the Gateway of India.
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