MSRDC Relocates to Dadar as Adani Realty Prepares for Bandra Reclamation Development

MUMBAI: The Maharashtra State Road Development Corporation (MSRDC) will shift its head office next week from Bandra Reclamation to Kohinoor Square in Dadar, paving the way for Adani Realty to begin development of a prime sea-facing land parcel along the Arabian Sea.

Following a prolonged legal battle, Adani Realty emerged as the successful bidder to develop the 22-acre plot, which currently houses MSRDC’s head office and a casting yard. When bids were opened in February 2024, Adani Realty offered a revenue share of 22.79% to MSRDC, the highest among the bidders. Mumbai-based Larsen and Toubro (Larsen and Toubro) had quoted an 18% revenue share, while Mayfair Housing, the third bidder, was disqualified.

“We will be operating from there for the next five years. By then, MSRDC Bhavan is expected to be ready at Bandra Reclamation, after which we will move back,” an MSRDC official told Hindustan Times. The corporation’s temporary office will occupy the 21st, 22nd, and 23rd floors of Kohinoor Square in Dadar. As per the agreement, Adani Realty will bear the lease cost during this period.

More than 15 years ago, MSRDC was headquartered at Nepean Sea Road before shifting to Bandra Reclamation in search of larger premises. Prior to becoming its main office, the current plot had served as a project site office for the Bandra-Worli Sea Link. With the corporation once again moving to a temporary location, officials said there were concerns about possible space constraints during the interim period.

The relocation of MSRDC to Dadar marks a significant step in the development plans for the Bandra Reclamation area. Adani Realty’s successful bid and the subsequent development of the 22-acre plot are expected to bring substantial economic and infrastructural benefits to the region. The project is anticipated to boost local employment and contribute to the overall growth of Mumbai’s real estate sector.