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RWITC, BMC finally sign racecourse agreement

Mumbai: The Royal Western India Turf Club (RWITC) and BMC have finally signed the agreement on Mahalaxmi Racecourse late on Tuesday. The proposed deal states that an area of 120 acres would be converted into a garden/theme park and the remaining 91 acres of the 211-acre racecourse will be handed over to RWITC for racing activities and a clubhouse.
According to sources, the agreement was signed around 11pm at the CM’s official residence Varsha where Eknath Shinde was present along with BMC commissioner Bhushan Gagrani, his predecessor Iqbal Singh Chahal, RWITC managing committee members Khushroo Dhunjibhoy, Ram Shroff and Shiven Surendranath and club secretary Niranjan Singh.
Sources said both the parties amicably agreed to almost every demand sought by either side. RWITC will get lease for 91 acres of land from June 1, 2013, to May 31, 2053. It will also get Rs 100 crore from govt to build some part of the current stable area which will be demolished. RWITC will also get land lease charges reduced to around Rs 1 crore per annum and a racing licence of nearly the same amount for each year.
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