The Royal Western India Turf Club (RWITC) and the Brihanmumbai Municipal Corporation (BMC) have officially signed an agreement concerning the lease for Mahalaxmi racecourse, according to a letter issued by Surendra R. Sanas, chairman of RWITC.
The new lease, spanning from June 1, 2023, to May 31, 2053 was granted based on the mandate given by the members at the Extra-Ordinary Meeting held on January 30, 2024.
Earlier this year, a proposal was put forth by the State Govt. and Brihanmumbai Municipal Corporation (BMC), spearheaded by the then BMC commissioner Iqbal Singh Chahal, which culminated in RWITC members voting with a majority of 76% in favour of the agreement on January 30.
Under the finalised deal, a substantial portion of the racecourse, totaling 120 acres out of 211, is slated for transformation into a theme park. RWITC will retain the remaining 91 acres for horseracing and turf club activities.
