MUMBAI: The railways, after a brief lull, has once again revived its proposal to commercially develop the surplus land adjoining Bandra station along the Western Express Highway. Despite being locked in a turf war with the state government over ownership of the land, the railways has called a meeting of developers and equity investors interested in the plot on March 26.
The land, admeasuring 45,000 sq mt, is situated on the eastern side of Bandra station with ready approach roads from at least two sides. Given that the Maharashtra government had approved a floor space index (FSI) of four for the land, construction of 1.8 lakh sq mt is possible on this prime plot. The ordinary Mumbaikar also stands to benefit from the proposed development as railways generally ploughs back at least one-third of the proceeds to upgrade the rail network in the city.
The railway ministry had decided to put the land on the block for commercial development way back in 2007. However, the Rail Land Development Authority (RLDA) got a shock when the Mumbai suburban collector issued a stay on the auction process on the grounds that the state owned half the land.
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