According to the land-swap proposal, the MMRDA will pay the difference in the cost of the land.
The Union Cabinet on Wednesday approved the transfer of 40 acres of Airports Authority of India or AAI land to Mumbai Metropolitan Region Development Authority or MMRDA for constructing its metro shed.
In return for the land at RR station in Dahisar, the AAI would get 40 acres of state government land at Gorai in Mumbai, a government statement said.
"The land transaction will enable MMRDA to complete the metro rail project in Mumbai," it said.
According to the land-swap proposal, the MMRDA will pay the difference in the cost of the land.
Working under the MMRDA, Mumbai Metro Rail Corporation or MMRC plans to construct a car shed on the Dahisar (E) to Andheri (E) metro corridor where a portion of the identified land is owned by the AAI.
The government said that after operationalisation of the metro car shed, there will be generation of direct and indirect employment.
"The present proposal will generate employment for skilled, semi-skilled labourers along with job opportunities for technical experts, also there will be creation of jobs in manufacturing industries involved in the metro construction work," it said.