Worli Dairy Land Set for Major Redevelopment: A New Commercial-Financial Hub in Mumbai

Mumbai: The state government is all set to redevelop the Worli Dairy land for a brand-new commercial-financial hub. The 15.8-acre plot, previously lying unused and reserved for the dairy development department, will now be handed over to the Mumbai Metropolitan Region Development Authority (MMRDA) for purposes including residential and recreational facilities.

The government decision grants Class 1 occupancy rights under the Maharashtra Land Revenue Code, making MMRDA the sole owner. The development authority will not need additional approvals from the government for development rights and disposal of plots.

Earlier this month, a 4.16-acre plot in Nariman Point, allocated to Mumbai Metro Rail Corporation (MMRC), was sold to the Reserve Bank of India (RBI) for Rs 3,471.82 crore. The Worli Dairy redevelopment is expected to generate significant funds for MMRDA, which is reportedly facing a financial crunch while building the metro network across the Mumbai Metropolitan Region (MMR).

A notification inviting suggestions and objections from the public was issued on Thursday. The project is part of a larger plan to position MMR as a global economic hub, generating employment opportunities. The earlier Maha Vikas Aghadi (MVA) government had envisioned an exhibition centre, marine research institute, aquarium, and residential quarters for dairy department staff on the same plot, plans that may now be dropped.

As the Special Planning Authority (SPA), MMRDA will decide plot allocations, issue development permissions and NOCs, and draft the development plan for the area. This move is expected to not only boost the local economy but also enhance the city's infrastructure, making it more attractive for businesses and residents alike.