Scribd
Upload
262 views4 pages

Mumbai's Iconic Racecourse Insights

The 225-acre Mahalakshmi Racecourse in Mumbai has been used for horse racing since 1883. It currently allows public access for walking and yoga in specified times. As one of the only areas in Mumbai near the sea with such open space, the land is very valuable and houses some of the most expensive properties in the city. There is potential to develop the land into a theme park that could generate substantial revenue from ticket sales, with estimated annual returns over ₹1 billion after several years. However, the future of horse racing at the location remains uncertain as the horses were sent back to training farms after the recent season due to the pandemic.

Uploaded by

Pranit Rananawre
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
262 views4 pages

Mumbai's Iconic Racecourse Insights

The 225-acre Mahalakshmi Racecourse in Mumbai has been used for horse racing since 1883. It currently allows public access for walking and yoga in specified times. As one of the only areas in Mumbai near the sea with such open space, the land is very valuable and houses some of the most expensive properties in the city. There is potential to develop the land into a theme park that could generate substantial revenue from ticket sales, with estimated annual returns over ₹1 billion after several years. However, the future of horse racing at the location remains uncertain as the horses were sent back to training farms after the recent season due to the pandemic.

Uploaded by

Pranit Rananawre
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 4

1

PROPOSAL FOR A THEME PARK NEAR MUMBAI

History of land
The Mahalakshmi Racecourse was built in 1883. The racing ground is
oval in shape and the length of the race track spreads to about 2400
meters. The Mahalakshmi Racecourse is built on 225 acres of land,
facing the sea. A huge open land sited in the middle of the bustling
city of Mumbai, this racetrack is a mirror image of the Melbourne
Caulfield Racecourse.

Nature of land
The residents of Mumbai can use the racecourse for walking and
jogging during the morning and the evenings in accordance with the
times specified for the same. In addition to being a public jogging
ground, the racecourse is also a place where yoga is practiced with
yoga sessions being organized in the in-house garden.

Various Elements Of land (legal and developmental


elements)
Legal: Mahalaxmi Race Course is an affluent neighborhood of
Mumbai. Maha Mahalaxmi Race Course is an affluent neighborhood
of Mumbai. Mahalaxmi racecourse region houses the priciest
properties of Mumbai. Close to Arabian sea, famous Haji Ali Shrine is
also closeby. Premium social amenities and world class infrastructure
is the hallmark of this area. Address of the wealthy, Mahalaxmi is
close to Byculla and Worli areas. It is served by Gadge Maharaj metro
station. axmi racecourse region houses the priciest properties of
Mumbai. Close to Arabian sea, famous Haji Ali Shrine is also closeby.
Premium social amenities and world class infrastructure is the
hallmark of this area. Address of the wealthy, Mahalaxmi is close to
2

Byculla and Worli areas. It is served by Gadge Maharaj


metro station. 

Map of land

Ticket size of the land


January 9, 2016, when evening racing was introduced in the country.
In 2016, Zavaray Poonawalla, chairman of RWITC, won the bid of
₹1.15 crore as a sponsor to the title rights of evening racing and
hosted 19 evening race-days during that Mumbai season. The
feature event of the opening day was the ‘Zavaray Poonawalla
Evening Racing Triple Million’ — a race which offered ₹3 million as
prize-money, and a glittering trophy worth ₹1 million to be
presented to the winning connections. Since then, the Mahalaxmi
Racecourse is the only racing centre in India where night racing is
held and RWITC makes sure to conduct few evening races during the
Mumbai racing season every year.

Competitive price in that locality


3

Competitor in the market


There Was No Competitor Because The only horse racing
track in Mumbai

Return on investment
INVESTMENT ON THE PROJECT
LAND SIZE IN SQ METERS INVESTMENT AS OWN /SQM ₹ 75,000.00
8,500 CONSTRUCTION COST / SQM ₹ 4,000.00
TOTAL INVESTMENT /SQM ₹ 79,000.00

TOTAL INVESTMENT AS WHOLE ₹ 67,15,00,000.00

RETURN ON THE PROJECT


LAND SIZE IN SQ METERS RETURN BY SALES / DAY ₹ 40,00,000.00
8,50,000 RETURN BY SALES / MONTH ₹ 12,00,00,000.00
AVERAGE SALES OF TICKETS RETURN BY SALES / YEAR ₹ 1,44,00,00,000.00
1000/DAY RETURN ON SALES / 3 YRS ₹ 4,32,00,00,000.00
PRICE / TICKET = 4000 RETURN ON SALES / 5 YRS ₹ 7,20,00,00,000.00
RETURN ON SALES / 10YRS ₹ 14,40,00,00,000.00
4

Future scope of the project


In late March, nearly a thousand thoroughbreds from the stables of
Mumbai’s Mahalaxmi Racecourse made their way back to the
training farms in and around Pune, as they do every year after the
racing season. This time, however, there was no telling when they
would return to Mumbai and once again thunder down the turf,
watched by hordes of excited first-time attendees, seasoned punters
and proud owners

You might also like