The Mumbai Metropolitan Region Development Authority (MMRDA) is set to mobilise nearly Rs9,285 crore through the auction of nine prime commercial and residential plots in the Bandra-Kurla Complex (BKC).
The proceeds are earmarked for funding major infrastructure projects across the Mumbai Metropolitan Region (MMR).
Plots in G Block Leased for 80 Years
According to an e-tender notice issued by the planning authority, the plots located in the ‘G’ Block of BKC will be leased for 80 years. The cumulative reserve price of all the plots stands at nearly Rs9,284.88 crore.
Of the total, five commercial plots alone account for around Rs6,620.63 crore in reserve value. The highest-valued commercial parcel is plot C75, spread across 7,415sq mt with a permissible built-up area of 29,660sq mt, carrying a reserve price of Rs1,432.55 crore.
Four Residential Plots Valued at ₹2,664 Crore
The remaining four residential plots together have a reserve value of nearly Rs2,664.25 crore. Among them, plot R1.7 has the highest reserve price at Rs1.35 crore.
The reserve rate for commercial plots has been fixed at Rs4.82 lakh per sq mt of built-up area, while residential plots have been priced at Rs3.52 lakh per sq mt.
Interested bidders can download tender documents until May 22, while the final date for online bid submission is June 25. A pre-bid meeting will be held at the MMRDA Bandra office on May 25 through video conferencing.
Industry observers said the auction will test investor appetite for premium real estate in BKC amid sustained demand for commercial office and high-end residential development in Mumbai’s key business district.
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