MUMBAI: The state government may spend at least Rs 800 crore for an acre of land inside Mumbai Port Trust (MbPT) area abutting the eastern waterfront in SoBo for the high court, which is looking for space to expand.
“Being a government office an FSI of 5 can be utilised, which means almost 5 acres of area will be developed. This will cost around Rs 800 crore, as per today’s rate,” MbPT sources said, pointing out that HC was not keen on the Borivli land offered earlier.
As per policy, MbPT is supposed to give priority to the buyers who have services attached to day-to-day port operations such as Customs and immigration besides security forces and utility services. “In case of others, the cost is to be borne at present market rates,” sources said.
Chief secretary Sitaram Kunte is learnt to have held a meeting to discuss this move. A proposal is yet to be made and sent to MbPT, which will then have to be sent to their ministerial head office in Delhi for final approval.
The panel of judges has visited the MbPT office four times and surveyed the probable plots. “The land they have zeroed in on near Cotton Green has many houses and resettling them is a major task as policies are to be made for them,” added sources.
