The financial capital of India, Mumbai is all set to get its third commercial business district soon in Wadala. The plan has been recently sanctioned by the Chief Minister Devendra Fadnavis wherein Wadala will be transformed into a commercial center on the lines of the BKC. The state government has also made a notification on the same to modify the development control rules for the same.
As per the government official, the business district will be spread over an area of 64 acres and MMRDA will develop the project. The project first set in January last year and the proposal was submitted to the government which got approval now.
Earlier, Wadala was supposed to be developed as an inter-state bus and truck terminus, but with an increase in commercial and residential demand and many projects announcement in central Mumbai, the government postponed the terminus project.
The Wadala business center will be developed as a ‘mixed-use’ project and would also comprise of transit-oriented development (TOD) model. The frequency of public transportation in Wadala has improved much after the commencement of Monorail services. Apart from this, a proposed metro route would further improve the transportation system in the coming years.
A recreation and entertainment hub would also come up here in later stages which will be developed by the Mumbai Port Trust. While the commercial development will be done as per the modified land use, the residential construction will be done on the plots available.
“Once developed completely, the new business district will provide MMRDA an additional source of income to fund big-ticket infrastructure projects.