MMRDA leases two properties in BKC to raise Rs 2,900 crore

19 May 2023 CW Team

The two plots, one measuring 7,071.90 square meters (C13) and the other measuring 6.096.67 square meters (C-19). Plot C-13's built-up area development potential is 45,000 square meters, whereas Plot C-19's is 40,000 square meters. The offered lease term is 80 years, and the reserve price for the built-up area is Rs. 3445 billion.

A senior official said, “The reserve price is similar to one which was paid by Goisu Realty to win the bids for two plots in 2022.”

MMRDA has set aside Rs 287.05 billion for spending on a variety of infrastructure projects in 2023–2024, including costs for Metro routes, the Mumbai Trans Harbor Link, the Versova–Vasai Sea Bridge, and an underground road between the Eastern Freeway and Marine Drive.

The state government had given the MMRDA permission to borrow Rs 600 billion in July 2022. The government has chosen to act as guarantor for a Rs 120 billion loan in Phase I that would be used to finance infrastructure projects in the Mumbai Metropolitan Region.

The MMRDA lacks the authority to levy taxes in order to raise money.

The MMRDA intends to monetize its assets, particularly the metro network, and engage in land sales to increase revenue.

However, it anticipates strong cash flow from a variety of sources over the following 25 years; however, officials said the Rs 600 billion in loans it has been permitted to raise will act as a buffer in case it does not receive expected funds in the following five years due to project delays and their effects on revenue inflow.

The authority is optimistic that it will be able to pay back debts by collecting development fees from commercial, industrial, and residential buildings in addition to selling off property. According to officials, taxes, cess, advertising, and other fees can be used to obtain the funds required for asset operations and upkeep.

See also:
Brookfield leads race to acquire IL&FS group headquarters in Mumbai
EFC leases 60,000 sq ft in Hyd and 32,000 sq ft office space in Mumbai

Two plots in the Bandra-Kurla Complex have been made available for lease by the regional development agency, the Mumbai Metropolitan Development Authority, or MMRDA, with the anticipation that they will bring in about Rs 29 billion. After a Japanese company, Goisu Realty Private Ltd, won the tender for leasing two land parcels at Bandra Kurla Complex, MMRDA received Rs 20.67 billion in October 2022. The two plots, one measuring 7,071.90 square meters (C13) and the other measuring 6.096.67 square meters (C-19). Plot C-13's built-up area development potential is 45,000 square meters, whereas Plot C-19's is 40,000 square meters. The offered lease term is 80 years, and the reserve price for the built-up area is Rs. 3445 billion. A senior official said, “The reserve price is similar to one which was paid by Goisu Realty to win the bids for two plots in 2022.” MMRDA has set aside Rs 287.05 billion for spending on a variety of infrastructure projects in 2023–2024, including costs for Metro routes, the Mumbai Trans Harbor Link, the Versova–Vasai Sea Bridge, and an underground road between the Eastern Freeway and Marine Drive. The state government had given the MMRDA permission to borrow Rs 600 billion in July 2022. The government has chosen to act as guarantor for a Rs 120 billion loan in Phase I that would be used to finance infrastructure projects in the Mumbai Metropolitan Region. The MMRDA lacks the authority to levy taxes in order to raise money. The MMRDA intends to monetize its assets, particularly the metro network, and engage in land sales to increase revenue. However, it anticipates strong cash flow from a variety of sources over the following 25 years; however, officials said the Rs 600 billion in loans it has been permitted to raise will act as a buffer in case it does not receive expected funds in the following five years due to project delays and their effects on revenue inflow. The authority is optimistic that it will be able to pay back debts by collecting development fees from commercial, industrial, and residential buildings in addition to selling off property. According to officials, taxes, cess, advertising, and other fees can be used to obtain the funds required for asset operations and upkeep. See also: Brookfield leads race to acquire IL&FS group headquarters in MumbaiEFC leases 60,000 sq ft in Hyd and 32,000 sq ft office space in Mumbai

Infrastructure Urban

07 Nov 2025

Welspun Enterprises Wins 910 MLD Panjrapur WTP Contract

Welspun Enterprises (WEL), the infrastructure and energy arm of Welspun World, has secured a major contract from the Brihanmumbai Municipal Corporation (BMC) to design, build and operate a 910 million litres per day (MLD) Water Treatment Plant (WTP) at Panjrapur, Maharashtra.Valued at approximately Rs 31.45 billion, the project encompasses end-to-end civil, mechanical, electrical and instrumentation works, including the construction of a treated water sump and pumping station. Of the total value, nearly Rs 11.56 billion is allocated to Operations & Maintenance (O&M), with an additional..

Infrastructure Energy

07 Nov 2025

Mitsubishi Power Wins Boiler Upgrade Contract for O Mon 1 Plant

Mitsubishi Power, a power solutions brand of Mitsubishi Heavy Industries, (MHI), has been awarded a contract to support the oil-to-natural-gas fuel conversion at the O Mon 1 Thermal Power Plant in Can Tho, southern Vietnam. As the OEM of the plant’s existing boiler, Mitsubishi Power will supply key equipment—including new gas burners—and implement a selective catalytic reduction (SCR) system to reduce NOx emissions and help the plant meet stricter environmental standards.The O Mon 1 facility includes two 330 MW units that commenced operations in 2009 and 2015, with all major equipment or..

Equipment

07 Nov 2025

Liebherr’s 10,000th XPower Wheel Loader Joins BERGER’s Fleet

BERGER Rohstoffe GmbH has welcomed the 10,000th Liebherr XPower wheel loader to its operations at the Schlag granite quarry in Passau. The milestone machine, officially handed over at Liebherr’s Bischofshofen plant in May 2025, underscores the long-standing partnership between BERGER, Liebherr, and the Beutlhauser Group. Equipped with Liebherr’s signature power-split travel drive, the new L 580 XPower is already delivering strong results under demanding quarry conditions.At the Schlag quarry, BERGER Rohstoffe processes approximately 200,000 tonnes of Bayerwald granite annually into high-qu..