Rs 350-crore project likely to be shifted to the outskirts as MMRDA plans to sell the prime plot to generate revenue, say officials The proposed Rs 350-crore inter-state bus terminus (ISBT) at Wadala is all set to be shifted out of the area as MMRDA plans to sell the 4.5 hectare prime plot to fill its coffers. The move comes within a year of the shifting of another project ufffd the truck terminus ufffd from the area. <table style="width: 110px; height: 42px" cellspacing="0" cellpadding="0" width="110" align="right" border="1"> <tbody> <tr> <td><img alt="" src="/imagedata/2011/jan/MSRTC.jpg" border="0" /></td></tr> <tr> <td> Goodbye 'traffic' terminus: MMRDA aims to streamline random pick-up and drop points and deter indiscriminate parking of private buses by shifting the bus terminus. representation pic</td></tr></tbody></table>Officials say the decision was taken considering the hike in realty rates in Wadala, which is set to become a major commercial and residential hub because of the monorail project. "After shifting the Rs 110-crore truck terminus, the MMRDA now wants to move the proposed ISBT out of Wadala because its land prices are rising phenomenally. So, a huge amount of revenue can be generated by selling these plots. The money can then be used for other infrastructure projects in the city," said a senior MMRDA official. New venues According to sources, the MMRDA has already begun scoping for places in Thane, Navi Mumbai and areas beyond Borivli for the bus and truck terminuses. u00a0 The bus terminus will have world-class passenger platforms, food courts, cinema halls, departmental stores, budget hotels, convenience rooms, rest rooms, recreation centres and baggage rooms. This project should be operational by 2013. An official said, the main reason behind setting up the ISBT is to streamline random pick-up and drop points and discourage indiscriminate parking of private buses to decongest the city's roads and ensure smooth traffic flow. "The plan to move it out of the city originated because of several upcoming projects in the area such as the monorail between Wadala and Chembur, which will be operational this year," added the official. MMRDA joint project director Dilip Kawatkar said, "Nothing concrete has been decided yet. The truck terminus was shifted because it was causing traffic congestion in the area. If the decision to shift the proposed ISBT has been taken, there must be some logic behind it." BKC-II? Officials said that since the MMRDA is the special planning authority of the area, it wants to sell off its plots and transform Wadala into a business hub similar to the Bandra-Kurla Complex. The MMRDA owns over 100 hectares of land in the area. In May last year, the authority had fetched a record price of Rs 4,050 crore for a 2.5 hectare plot at Wadala.

Rs 350-crore project likely to be shifted to the outskirts as MMRDA plans to sell the prime plot to generate revenue, say officials

Wadala to lose bus terminus

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Wadala to lose bus terminus

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