New Delhi, Oct. 1 -- The Maharashtra government has approved the redevelopment of the 15.8-acre Worli Dairy land in Mumbai, paving the way for a world-class commercial-financial hub.The land parcel, previously reserved for the dairy development department, will now be handed over to the Mumbai Metropolitan Region Development Authority (MMRDA) for large-scale development, including residential and recreational facilities.

The state has granted Class 1 occupancy rights under the Maharashtra Land Revenue Code, making MMRDA the sole owner of the land. This ensures the development authority has full control over the property, eliminating the need for additional government approvals for development rights ordisposal of plots.

The move follows...