Bid to monetize 200 acres of land in Mumbai's Thane-Belapur industrial corridor.

Around 200 acres of land worth over Rs. 1,600 crore are up for sale in Mumbai's Thane-Belapur industrial corridor as many of the landowners in the region, including private companies and developers, plan to monetize them to take advantage of the growing demand for commercial and industrial real estate, according to property advisors, builders and government officials.

Some of the top commercial developers such as RMZ Corp, Ascendas-Singbridge and Embassy Group have already sets their sights on entering the region and are currently scouting to buy land to start information technology (IT) parks in the area.

Most of the industrial land plots in the region (that stretches from Thane till Navi Mumbai) are owned by Maharashtra Industrial Development Corporation (MIDC).

These land parcels have been leased out to private companies, land aggregators and developers but lot of them are lying unused for long.

However, many of them are looking to monetize the land to leverage on the increasing demand for industrial land plot from commercial real estate firms who are aggressively looking for expansion.

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