BMC's Gets Nod to Convert 120-acre Mahalaxmi Racecourse Land Into Theme Park

In a significant development, the Maharashtra government has received approval from the Royal Western India Turf Club (RWITC) for the proposal to convert a portion of the Mahalaxmi Racecourse into a theme park. 

The RWITC convened an extraordinary general meeting to vote on the proposal put forward by the Brihanmumbai Municipal Corporation (BMC). Only 708 of the total 1718 members cast their votes. The proposal was approved with 540 to 168 votes.

The BMC proposed that if the RWITC releases a little over 50% of its 211-acre property, the turf club's tenure would be extended for another 30 years. The tenure of the turf club expired in 2013. As per the plan, the RWITC will release 120 acres of the racecourse to the BMC. BMC commissioner Iqbal Singh Chahal, Chief Minister Eknath Shinde, and his cabinet have also shown their support for the proposal.

The BMC plans to use 73 acres of the racecourse to build a theme park. Additionally, the existing stables, which occupy 30 acres, will be removed to link the theme park with the upcoming coastal road garden.

The civic body has also proposed to relocate the squatters from the racecourse and provide them with alternative housing. The RWITC hopes that the government will reduce the annual fees for racing licences to ease the club's financial burden.

After approval, an MoU will be signed between the turf club, BMC, and the Maharashtra government. This MoU will extend the racecourse's lease to 2053. The BMC has also assured the club that it will bear the entire cost of constructing new stables near the existing ones. They are estimated to cost INR 100 crore. 

The club also anticipates a reduction in the annual racing licence payments, which will further ease its financial burden. The BMC has proposed to allow the RWITC to build a clubhouse on the allotted site. It has also promised to help them obtain the necessary permits from state regulatory agencies.

The next challenge lies in executing the proposed MoU and securing the lease renewal. The theme park will be designed to ensure spectators have a clear view of the horse racing events. The current racecourse will continue to host these events for the RWITC.