Mumbai Set To Redevelop 15.8 Acre Worli Dairy Land Into Financial Hub

Mumbai is poised for a transformative real estate move as the state government prepares to redevelop the 15.8-acre Worli Dairy land into a commercial-financial hub. Previously reserved for the dairy development department and lying largely unused, the plot will now be handed over to the Mumbai Metropolitan Region Development Authority (MMRDA), which will oversee its conversion into a mixed-use precinct featuring commercial, residential, and recreational facilities.

With Class 1 occupancy rights granted under the Maharashtra Land Revenue Code, MMRDA assumes full ownership and control over the plot. The authority can now allocate, develop, and dispose of plots without requiring additional government approvals, allowing for a faster and more integrated approach to urban redevelopment. Officials note that this redevelopment aligns with Mumbai’s larger vision of positioning itself as a global economic and financial hub. The redevelopment is also expected to generate substantial revenue for MMRDA, which faces financial constraints while expanding the city’s metro network.

The redevelopment follows a precedent set earlier this month, when a 4.16-acre plot in Nariman Point, held by Mumbai Metro Rail Corporation (MMRC), was sold to the Reserve Bank of India for Rs 3,471.82 crore. Experts suggest that monetising metro-related and government-owned land could provide MMRDA with essential funding for upcoming infrastructure projects, including metro expansion and urban mobility initiatives. A public notification inviting suggestions and objections has been issued, ensuring that the redevelopment process considers local stakeholder input. The project also marks a departure from previous plans envisioned by the earlier Maha Vikas Aghadi government, which included an exhibition centre, marine research institute, aquarium, and residential facilities for dairy staff. Officials confirmed that the redevelopment will prioritise economic utility, employment generation, and sustainable urban planning over these earlier proposals.

Acting as the Special Planning Authority (SPA), MMRDA will oversee zoning, development permissions, and issuance of No Objection Certificates (NOCs). The authority will also draft detailed development plans, ensuring that the Worli site integrates seamlessly with Mumbai’s wider urban fabric while supporting the city’s zero-carbon, eco-friendly, and equitable growth agenda. Urban planners highlight that the redevelopment could catalyse further high-value investments in South Mumbai, attracting both domestic and international commercial interest. They also stress the importance of integrating sustainable infrastructure, green spaces, and energy-efficient designs to reduce environmental impact.

The Worli Dairy redevelopment project positions Mumbai at the intersection of heritage land utilisation, financial hub creation, and modern urban planning, offering a blueprint for transforming underused government plots into productive, future-ready urban assets.

Mumbai Set To Redevelop 15.8 Acre Worli Dairy Land Into Financial Hub