By Arosh John – Founder, John Real Estate (MahaRERA Reg. No. A51700001835) & Editor-in-Chief, Thane Real Estate News (TREN)
Thane–MMR | December 2025
Introduction
The Maharashtra government has taken a quiet but powerful decision for the Mumbai Metropolitan Region (MMR).
Metro depot land will no longer function only as service yards – it will also be treated as a strategic real estate asset.
Authorities have identified around 100 hectares of metro depot land across MMR for monetisation. The Mogharpada integrated metro depot in Thane, off Ghodbunder Road, has been chosen as the strategic pilot under MMRDA.
For Thane, this goes far beyond a “car shed” update. It marks the early stage of what can evolve into a metro-led commercial and mixed-use district on the city’s north-western edge.
What the State Has Announced
Recent government statements and official briefings point to a clear policy direction:
- The State has asked MMRDA to monetise metro depot land using a mixed-use, commercial-heavy development model.
- Nearly 100 hectares of depot land across MMR now fall under this monetisation framework.
- Mogharpada depot in Thane has been selected as the strategic pilot. If this model works, planners may extend it to other depots.
- The core objective is to boost non-fare revenue, so that metro finances do not depend only on ticket collections.
In practical terms, the depot will continue to support metro operations. However, surplus and compatible areas around it will be unlocked for long-term, lease-based real estate development.
Mogharpada Depot: Scale and Role in the Metro Network
Mogharpada is not a marginal yard on the fringe. It is planned as one of the largest integrated depots in the entire region.
Land and Layout
MMRDA controls around 174 hectares (~430 acres) at Mogharpada for the integrated metro depot and related uses. Within this:
- Roughly 45–46 hectares form the core depot area.
- Around 9 hectares are reserved for the Thane Coastal Road connection.
- Approximately 29 hectares fall under mangrove or no-development zones.
Consequently, the real estate monetisation potential sits in the balance land outside the essential depot footprint and the strictly protected areas, subject to planning approvals.
Lines Linked to Mogharpada
The depot will support several key corridors:
- Line 4 – Wadala to Kasarvadavali
- Line 4A – Kasarvadavali to Gaimukh
- Line 10 – Gaimukh to Shivaji Chowk (Mira Road)
- Line 11 – Wadala to CSMT / proposed south Mumbai spur
Functional Role
Mogharpada will handle:
- Stabling of rakes for multiple lines
- Heavy and light maintenance activities
- Workshop and inspection bays
- Staff and operational facilities
- Potentially a central or integrated operations control function
In short, it is the operational heart for a large part of the Green Line network.
Connectivity Status: From Paper Alignment to Trial Runs
For any depot-led monetisation story, connectivity is the critical test.
During 2025, the situation shifted from drawings to the actual viaduct:
- Trial runs have started on the Green Line priority stretch in Thane, with technical inspections and test runs between Gaimukh and Vijay Garden, as part of the broader Gaimukh–Cadbury Junction Phase 1 corridor.
- With rakes now visible on the elevated corridor, connectivity is no longer theoretical – it is imminent.
In parallel:
- Regulatory approvals have cleared key alignments and connectors for Lines 4 and 4A to reach the Mogharpada side, while maintaining buffers for creeks and mangroves.
- Court orders have upheld the public purpose behind the integrated Mogharpada depot, subject to proper rehabilitation and compensation for affected landowners.
Taken together, these developments effectively lock Mogharpada in as the long-term depot location and create the base case for structured monetisation.
What “Monetisation” Actually Means Here
The word “monetisation” can easily be misunderstood. In Mogharpada’s case, it does not indicate a simple, one-time land sale.
Instead, planners are working towards a long-term lease and development-rights model, which aligns with global transit-oriented development (TOD) practices.
Ownership Structure
- The State / MMRDA continues to own the land.
- Private developers or consortia obtain long-term lease rights for defined parcels through competitive bidding.
Use Mix
The concept is clearly commercial-led, with flexibility built in:
- Offices and business parks
- Retail and high-street spaces
- Hospitality (hotels, serviced apartments, business hotels)
- Limited residential or institutional components, where permitted by planning regulations
Planning and FSI
- Final FSI (Floor Space Index), height and land-use split will follow UDCPR 2020 and the relevant Development Plan / Town Planning Scheme for the area.
- Master planning must provide a clear physical and operational separation between secure depot operations and public commercial zones through levels, buffers, access controls and circulation planning.
Revenue Model
The revenue structure is likely to combine:
- Upfront premiums at the bidding stage
- Annual lease rentals
- A revenue-share component in some formats
This mix creates a steady stream of non-fare income that can support metro operations, maintenance and future infrastructure roll-outs.
In spirit, the approach resembles depot- and station-linked real estate seen in several global transit cities, yet it has to work within MMR’s regulatory, environmental and political context.
Why Mogharpada Matters Specifically for Thane
Mogharpada lies in the Ghodbunder Road–Kasarvadavali–Gaimukh belt, one of Thane’s most active residential growth corridors. This geography gives the depot’s monetisation an impact far beyond metro engineering.
1. Multi-Line Metro Hub
The depot will support four metro lines connecting Thane to:
- Central Mumbai
- Eastern suburbs
- Western suburbs
- CSMT and, eventually, south Mumbai
Because of this, Mogharpada effectively becomes the “heart” of the Green Line network, offering long-term strategic value within the metro grid.
2. Edge-of-City Commercial Opportunity
Ghodbunder Road already links Thane to:
- Mira–Bhayandar and the Western Express Highway
- Gujarat-bound highway traffic
- Parts of interior Maharashtra
A commercial cluster at Mogharpada can draw:
- Corporate back-offices
- IT / ITeS operations
- Support and logistics functions
closer to relatively affordable residential markets in Kasarvadavali, Owale, Gaimukh and Bhayandarpada, instead of forcing every job centre into BKC, Lower Parel or Fort.
3. Synergy with Ongoing Infrastructure Upgrades
Upper Ghodbunder is already undergoing:
- Road widening
- Junction redesign
- Service-road and access improvements
Authorities frequently link these works to Metro Line 4’s rollout.
Once you combine upgraded roads, multi-line metro connectivity and depot-adjacent mixed-use development, the belt can evolve into a true “transit + road” node, instead of remaining a simple bedroom suburb.
Key Numbers at a Glance (as of December 2025)
- Total land at Mogharpada (integrated depot): ~174 hectares (~430 acres)
- Indicative core depot area: ~45–46 hectares
- Mangrove / no-development zones: ~29 hectares
- Land reserved for Thane Coastal Road link: ~9 hectares
- Metro lines linked: Line 4, Line 4A, Line 10, Line 11
- Total depot land identified for monetisation across MMR: ~100 hectares
- Policy direction: Mixed-use, commercial-led development under MMRDA, through long-term leases to raise non-fare metro revenue
Note: The exact boundaries and phase-wise parcels for monetisation at Mogharpada have not yet been notified formally.
Risks, Unknowns and Moving Pieces
The direction is clear, but several moving parts still need definition.
Exact Monetisation Parcels
MMRDA has not yet published the final list of plots or the first-phase parcels that will enter the bidding pipeline. Detailed feasibility and micro-planning are still in progress.
FSI, Height and Use Split
Final development potential will depend on how planners balance:
- Operational safety and depot functionality
- Environmental sensitivity, especially around mangroves and creeks
- Commercial viability under UDCPR 2020 and local plans
Timelines for Tenders and Construction
Public communication so far focuses on policy intent, not on exact dates.
In addition, issues related to:
- Project-affected persons (PAPs)
- Rehabilitation packages
- Local resistance and litigation
can influence how quickly bids are invited and how phases are sequenced.
Environmental Scrutiny
Because of the ecological profile of the area, any non-essential commercial component will face:
- Close regulatory review
- Potential legal challenges
- Design and density constraints
These factors can shape not just how much gets built, but also what finally comes up at Mogharpada.
Short-Term Impact on Nearby Residents
For residential projects immediately surrounding the depot zone, there is a more basic, yet very real, concern:
- Multiple years of heavy civil work
- Continuous movement of trucks and construction machinery
- Noise, dust and visual clutter
Buyers in under-construction towers near Mogharpada must account for this short-term disruption, even though the long-term payoff in terms of connectivity and commercial uplift can be significant.
Overall, Mogharpada is a 7–15 year structural story, not a quick speculative trade.
What This Means for Thane Homebuyers and Investors
The Mogharpada metro depot monetisation should shape your framework, not hijack your decision.
If You Already Own in the Upper Ghodbunder Belt
Owners in Kasarvadavali, Owale, Gaimukh and Mogharpada stand to benefit from:
- Stronger long-term job linkage
- Better connectivity
- Deeper urbanisation around their micro-market
In other words, the policy reinforces the long-term case for the corridor.
If You Are Planning to Buy Now
Treat this development as an additional positive signal, but keep the basics front and centre:
- Track record and execution capability of the developer
- MahaRERA registration, compliance and financial discipline
- Realistic timelines for your nearest metro station, and clarity on which phase is likely to open first
Do not buy solely because “a depot is being monetised nearby.” Make sure the project itself passes standard due-diligence checks.
If You Are a Serious, Long-Horizon Investor
Investors with a 7–15 year view should start closely watching:
- MMRDA tender documents related to Mogharpada monetisation
- How each parcel’s FSI, use mix and obligations are framed in bid conditions
- The evolving tenant and employer profile – corporates, back-offices, IT/ITES, logistics, or a mix – and how it compares with Wagle Estate, Kolshet–Balkum and current Ghodbunder commercial strips
If implemented thoughtfully, the monetisation of the Mogharpada metro depot can anchor a new commercial and mixed-use district for Thane, right at the junction of four metro lines and a major regional highway.
About the Author
Arosh John is the Founder of John Real Estate (MahaRERA Reg. No. A51700001835) and Editor-in-Chief of Thane Real Estate News (TREN). Active in the Thane market since 2014, he focuses on Thane-centric residential advisory with deep expertise in complex resale transactions, premium and villa properties, and NRI-focused investment and exit strategies across Thane–MMR. By combining on-ground transaction experience with regulatory, infrastructure and policy insights, he has emerged as a leading advisor on Thane real estate, resale liquidity, villa-led living and NRI deal structuring, helping clients navigate pricing, documentation and risk in a fast-evolving market.
Disclaimer
This article is based on information available from official documents, public notices and credible infrastructure and real estate trackers as of December 2025. Policies, layouts, timelines and development parameters may change through subsequent government resolutions, court orders, planning revisions and tender conditions.
Readers and investors should always verify critical details with official MMRDA / Government of Maharashtra notifications, approved plans and professional legal or financial advisors before making any investment, purchase or transactional decisions.
