MMRDA to lease three plots in BKC

15 Oct 2024 CW Team

The Mumbai Metropolitan Region Development Authority (MMRDA) plans to generate ?656 crore by leasing three prime plots in the Bandra-Kurla Complex (BKC) for significant infrastructure developments, including a clubhouse with sports facilities, a hospital, and an educational institution. These plots will be offered on an 80-year lease, with bids due by November 25.

The largest plot, situated in G Block, spans 52,138 square meters and is earmarked for a world-class clubhouse and sports facility. MMRDA has set a reserve price of ?168 crore for this plot, which allows for a built-up area of 10,427 square meters. The clubhouse plans include suites, conference rooms, an auditorium, a restaurant, and a gymnasium, along with various indoor and outdoor sports facilities. Outdoor amenities will feature a swimming pool, tennis courts, cricket nets, a football ground, a basketball court, and a 400-meter running track, as well as basement parking and related services.

In the GTxT Block, a second plot measuring 10,026 square meters is designated for hospital development, with a reserve price of approximately ?323 crore and a permissible built-up area of 20,052 square meters.

The third plot, also in the GTxT Block, covers 5,118 square meters and is reserved for an educational institution. Its reserve price is set at ?164.87 crore, allowing for a built-up area of 10,235 square meters.

BKC, a 19-hectare commercial hub developed by MMRDA, hosts numerous corporate and government offices, including the National Stock Exchange, Securities and Exchange Board of India, and the US Consulate, as well as the Mumbai Cricket Association, Jio World Drive, and the Nita Mukesh Ambani Cultural Centre, making it an ideal location for these upcoming projects.

Over the past two decades, MMRDA has funded public projects by raising substantial funds through the auctioning of plots at BKC to developers, primarily for commercial development.

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