Mumbai Port Trust to free 150 hectares
Mumbai Port Trust (MbPT) will free up 150 hectares from its land parcels for iconic infrastructure projects such as entertainment hubs and an all-weather marina project in south Mumbai, said a top government official.
An entertainment hub at Victoria Docks and Princess Docks on the south-east of the island city is being planned, while Marine Drive is all set to get a facelift with two jetties at Chowpatty and the NCPA end at Nariman Point in south Mumbai, said MbPT Managing Director Sanjay Bhatia.
“Land prices will come down if infrastructure is in properly developed. Cities like Ahmedabad and Hyderabad are two good examples where property prices have remained stable due to infrastructure support,” said Anuj Puri, Country Head of JLL India.