MMRDA to develop Wadala Business District

MMRDA recently appointing Edifice Consultants Pvt Ltd to prepare the blueprint for utilising land that will emerge as an international finance and business centre.

The development authority in January 2012 had invited expressions of interest from companies for the project and shortlisted 12 consultants.

The Wadala business district would be smaller than BKC and be a mix of commercial and residential buildings with plans afoot to create a walk-to-work set-up.

MMRDA owns 109 hectares in Wadala but the actual usable area is only 82 hectares and the rest is salt-pan land. About 10 hectares of usable land belongs to the Lodha Group, which had put in the highest bid and purchased the plot from MMRDA for Rs 4,050 crore. The developer is constructing a residential project on the land.