In order to generate additional revenue from the city's Monorail project, which is currently incurring losses, the Mumbai Metropolitan Region Development Authority (MMRDA) has now chalked out a plan to monetise the Monorail depot in Wadala for commercial purposes.
The MMRDA plans to lease out the 15 acre plot and expand it horizontally on the unused area inside the Monorail depot. With a mere ridership of 18,000 commuters on a daily basis, the MMRDA has been incurring losses for the first phase of Monorail between Chembur and Wadala.
Sanjay Khandare, additional metropolitan commissioner, MMRDA, said, "We are expecting to earn some revenue from our Monorail depot land and we are appointing a consultant who will evaluate the total value of the land and help us to figure out the land requirement."
The depot land is currently under Scomi Engineering, the operator for the Monorail, along with L&T which is the civil construction contractor for both the Monorail phases. The second phase is between Wadala and Jacob Circle, Mahalaxmi, and is expected to be commissioned by year-end.
The MMRDA's plan to commercialise the depot land is said to be another attempt to increase its revenue and raise funds after its recent attempt to auction its land parcel in Bandra-Kurla Complex (BKC).
