mumbai the mumbai metropolitan region development authority mmrda will get around 91 lakh sq ft of saleable area across the 12 stations and depot of metro 1 if it takes control of the corridor which is now operated by reliance infrastructurepromoted mumbai metro private ltd mmopl information obtained under rti showedmmrda has a 26 stake in the special purpose vehicle mmopl which runs the metro i while anil ambaniowned reliance infrastructure holds 74 the 12km corridor between versovaandherighatkopar has 12 stations and a depot at dn nagaron january 2 activist anil galgali had filed an rti application to know the offer made by reliance infrastructure to mmrda on selling its stake from mmopl and the status of acquisition in its reply dated january 30 mmrda provided a copy of a letter by reliance infrastructure to then urban development minister eknath shinde in july 2020 mmrda also replied that the process is still underway to acquire the stake in mmoplit further stated that mmrda may fully develop one depot at d n nagar owned by mmopl as well as develop 12 stations through real estate the letter stated at present fsi is available under development control dc rules is of around 68 lakh sq ft the current construction area is 506 lakh sq ft and the area available for development is 8581 lakh sq ft therefore the total saleable area is 91 lakh sq ft which can be used for headquarters and government offices of all metro linesin 2021 mmrda had floated a request for proposal to appoint a consultant for financial and commercial due diligence as well as to undertake valuation metropolitan commissioner s v r srinivas said work on ascertaining the valuation of the corridor is still underwaythe concession agreement between mmrda and mmopl was signed on march 7 2007 the total cost of the project built on publicprivate partnership is estimated at rs 2356 crore however mmopl has contested this figure and in its justification for a fare hike in the past had claimed escalation of project cost to rs 4321 crore the operator had said its demand for a viability gap fund of rs 1252 crore from the government was reduced to rs 650 crorebefore the pandemic metro i operational since june 2014 had daily ridership of around 45 lakh and an average revenue of rs 1 crore per day the losses are weighing heavily on mmopl