MMRDA eyes huge Borivli plot

After auctioning the Wadala plot to Lodha developers for a Rs4,000 crore in May last year, the Mumbai Metropolitan Region Development Authority (MMRDA) is now eyeing a huge plot in Magathane, Borivli (East).

The plot measuring 1.60 lakh sq m is expected to have an approximate market price of Rs1,200 crore. It has been acquired by the state under the Urban Land Ceiling Act in 2004. However, the authority may have to clear a few hurdles before commencing any development on the plot.

The affidavit submitted by the deputy metropolitan commissioner Anil Wankhede said that in March 1996, the period of 15 years of exemption ended. The mill owners applied for a change of user permit from industrial to residential and were given another year by the state to start construction. In 2004, the state passed the order withdrawing the earlier one.

“We located this plot which is adjoining the Western Express Highway. The authority was handed over the land in 2009,” said Wankhede.