Mumbai - over 1,000 acres of prime real estate may soon be up for sale

Hold your breath. Imagine a piece of real estate three times the size of all the mill lands in Mumbai Central being available for sale in the heart of Mumbai. That is exactly what may be on the cards, if the Mumbai Port Trust has its way in consultation with the Union Ministry of Shipping. When the fate of so much invaluable land is in question, it is inevitable that politicians and the central govt. will be involved.

The Mumbai Port Trust is the owner of 1,860 acres of land. It is known as the Eastern Waterfront. And it stretches almost limitlessly from Sassoon Dock to Wadala. The Port Trust now plans to revise its land policy, including the renewal of leases, land allotment and sale.

With this view, a proposal has been prepared by the port administration in consultation with the Union Shipping Ministry. Some provisions in the draft proposal, advocate the outright sale of land not required for port activity. This includes land that is outside the custom-bound area, where actual shipping activities take place. These areas probably cover 485.5 acres, leaving a lion's share of the total of 1,860 acres possibly available to the highest bidder, sometime soon.


By INRnews Correspondent

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