The project includes 120 acres of land from Mahalaxmi Racecourse and about 175 acres from the Mumbai Coastal Road. Out of the total 211-acre plot of Mahalaxmi Racecourse, the remaining 91 acres of land is leased to M/s. Royal Western India Turf Club Limited for a 30-year period. The lease agreement was signed in the presence of Chief Minister Eknath Shinde, the BMC said on Wednesday.

According to an official statement, "The 211-acre land at Mahalaxmi Racecourse was leased to M/s. Royal Western India Turf Club Limited for over 100 years. After the lease expired a few years ago, the BMC administration has been actively pursuing efforts to repossess the land in the larger public interest.

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The municipal administration is now poised to transform CM Eknath Shinde's concept of developing an international-standard Mumbai Central Public Park into reality, it said.

The Government of Maharashtra (GoM) recently decided to transfer 120 acres of the plot to Brihanmumbai Municipal Corporation (BMC) following the expiration of the Mahalaxmi Racecourse lease. The remaining 91 acres is leased to M/s. Royal Western India Turf Club Limited, with the agreement valid from 1 June 2023 to 31 May 2053.

The civic body said that the lease agreement was signed yesterday (2 July 2024) in the presence of CM Shinde at the official residence, Varsha Bungalow. Also present were Additional Chief Secretary to the Chief Minister Dr. Iqbal Singh Chahal, Municipal Commissioner & Administrator Bhushan Gagrani, Deputy Municipal Commissioner (Improvement) Sanjog Kabre, Deputy Municipal Commissioner (Finance) Prashant Gaikwad, Assistant Municipal Commissioner (Estate) Vinayak Vispute. K. N. Dhunjibhoy, Dr. Ram Shroff, Dilip Thakkar and Niranjan Singh were present on behalf of M/s. Royal Western India Turf Club Limited.

"After allocating 91 acres of the racecourse plot to M/s. Royal Western India Turf Club Limited, the remaining 120 acres is now under BMC's possession. The BMC administration will now speed up the development of an international-standard 'Mumbai Central Public Park', spanning approximately 300 acres and modelled after Central Parks in New York and London," the BMC said.

Mumbai Central Public Park includes the 120-acre plot from the Racecourse and 175 acres from the Mumbai Coastal Road Project, which is adjacent to the Racecourse premises.

The project will expand Mumbai's green cover from the current 3,917 acres to 4,212 acres. Importantly, dedicating 300 acres to green space will significantly contribute to Mumbai's environmental conservation efforts. The BMC administration is confident that the 'Mumbai Central Public Park' will benefit both Mumbaikars and tourists, providing accessibility that was previously unavailable, the BMC said.