Days after its Wadala plot got sold for a whopping Rs 4,050 crore, the Mumbai Metropolitan Regional Development Authority (MMRDA) is taking a keen interest in developing Wadala by contemplating providing Metro connectivity for the suburb.
“We are thinking of extending the Metro line up to Wadala. One of the nine corridors in the pipelines is the Ghatkopar-Mulund line which we can extend it up to Wadala,” said Metropolitan Commissioner Ratnakar Gaikwad.
The MMRDA is constructing a nine-route Metro rail across Mumbai.
It hopes to construct the first Metro line by December and work has already begun. The time frame set by the MMRDA to finish constructing the second metro line is 2015.
However, work for this has not begun as yet.
The MMRDA on May 25, leased out its 25,000 sq meter Wadala plot for a price of Rs 81,818.18 per sq m to the Lodha Group. The MMRDA gained Rs 4,050 crore from the deal.
With the Wadala land raking revenues, the regional planning body is contemplating developing Wadala.
It wants to develop it into a business hub along the lines of the Bandra-Kurla Complex.
The Monorail, Metro rail and the new freeway being built along the harbour will enhance Wadala’s profile.
The MMRDA has 4.5 hectares of additional land at Wadala, which it is planning to develop as an inter-state bus terminal.
“The equitable growth of Mumbai will take place if we create different growth centres across the city,” Gaikwad said.
MMRDA is already constructing a Monorail connecting Chembur-Wadala- Jacob Circle.
The route, which will go through Wadala, is the Hutatma Chowk-Ghatkopar line.
This will be the eighth Metro line which the MMRDA is hoping to construct.
The time frame set by the MMRDA to complete the eighth line is 2021, which can be delayed further.