Worli Dairy land to be redeveloped into commercial-financial hub
Real Estate

Worli Dairy land to be redeveloped into commercial-financial hub

The Maharashtra government has approved the redevelopment of the 15.8-acre Worli Dairy land in Mumbai, paving the way for a world-class commercial-financial hub. The land parcel, previously reserved for the dairy development department, will now be handed over to the Mumbai Metropolitan Region Development Authority (MMRDA) for large-scale development, including residential and recreational facilities.

The state has granted Class 1 occupancy rights under the Maharashtra Land Revenue Code, making MMRDA the sole owner of the land. This ensures the development authority has full control over the property, eliminating the need for additional government approvals for development rights or disposal of plots.

The move follows a precedent set earlier this month when a 4.16-acre plot in Nariman Point, allocated to the Mumbai Metro Rail Corporation (MMRC), was sold to the Reserve Bank of India (RBI) for Rs 34.71 billion.

Officials expect the Worli Dairy redevelopment to generate significant funds for MMRDA, which is currently facing a financial crunch while executing the metro projects across the Mumbai Metropolitan Region (MMR).

A notification inviting public suggestions and objections has already been issued. The project aligns with the state’s larger vision of positioning MMR as a global economic hub and creating employment opportunities. Earlier plans by the Maha Vikas Aghadi (MVA) government—which included an exhibition centre, marine research institute, aquarium, and residential quarters for dairy staff—are now likely to be replaced with MMRDA’s new commercial vision.

As the Special Planning Authority (SPA) for the project, MMRDA will be responsible for drafting the development plan, finalising plot allocations, and issuing development permissions and NOCs.

News source: The Free Press Journal


The Maharashtra government has approved the redevelopment of the 15.8-acre Worli Dairy land in Mumbai, paving the way for a world-class commercial-financial hub. The land parcel, previously reserved for the dairy development department, will now be handed over to the Mumbai Metropolitan Region Development Authority (MMRDA) for large-scale development, including residential and recreational facilities.The state has granted Class 1 occupancy rights under the Maharashtra Land Revenue Code, making MMRDA the sole owner of the land. This ensures the development authority has full control over the property, eliminating the need for additional government approvals for development rights or disposal of plots.The move follows a precedent set earlier this month when a 4.16-acre plot in Nariman Point, allocated to the Mumbai Metro Rail Corporation (MMRC), was sold to the Reserve Bank of India (RBI) for Rs 34.71 billion.Officials expect the Worli Dairy redevelopment to generate significant funds for MMRDA, which is currently facing a financial crunch while executing the metro projects across the Mumbai Metropolitan Region (MMR).A notification inviting public suggestions and objections has already been issued. The project aligns with the state’s larger vision of positioning MMR as a global economic hub and creating employment opportunities. Earlier plans by the Maha Vikas Aghadi (MVA) government—which included an exhibition centre, marine research institute, aquarium, and residential quarters for dairy staff—are now likely to be replaced with MMRDA’s new commercial vision.As the Special Planning Authority (SPA) for the project, MMRDA will be responsible for drafting the development plan, finalising plot allocations, and issuing development permissions and NOCs.News source: The Free Press Journal

Related Stories

Gold Stories

Next Story
Infrastructure Energy

Asian Energy Services Q1 FY27 PAT Rises 129 Per Cent

Asian Energy Services Limited reported a 129 per cent year-on-year rise in net profit to Rs 128 million for Q1 FY27, compared with the corresponding quarter last year.Revenue increased 135 per cent year-on-year to Rs 2.71 billion, supported by continued momentum across its services business, disciplined execution and contributions from domestic and international operations. EBITDA grew 81 per cent year-on-year during the quarter.As of June 30, 2026, the company’s standalone order book stood at Rs 17.54 billion, with around 60 per cent coming from oil and gas services and 40 per cent from min..

Next Story
Infrastructure Urban

BioBTX to Build First Commercial-Scale Circular Chemicals Plant

Dutch circular chemistry technology developer BioBTX is building what it says will be the world’s first commercial-scale plant to convert mixed plastic waste into high-quality aromatic chemicals using its proprietary Integrated Catalytic Cracking Process (ICCP) technology.The facility will be built at Chemical Park Delfzijl on the northern coast of the Netherlands and is expected to create 35 jobs. Covestro, which has been a shareholder and strategic partner of BioBTX since 2024, holds a mid-single-digit million-euro investment in the company.BioBTX’s ICCP technology uses catalytic pyrolys..

Next Story
Real Estate

Awfis Q1 FY27 PAT Jumps 140% as Revenue Rises 27%

Awfis Space Solutions reported a 140 per cent year-on-year rise in consolidated profit after tax (PAT) to Rs 240 million for Q1 FY27, compared with Rs 100 million in the corresponding quarter last year.Revenue from operations increased 27 per cent to Rs 4.25 billion from Rs 3.35 billion, while EBITDA rose 28 per cent to Rs 1.62 billion. EBITDA margin improved to 38.2 per cent from 37.8 per cent. Profit before tax increased 135 per cent to Rs 240 million.The company's co-working business recorded 27 per cent year-on-year growth, supported by demand from enterprises, Global Capability Centres (G..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement