MMRDA to lease three plots in BKC
Real Estate

MMRDA to lease three plots in BKC

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.

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.

Next Story
Technology

BBMP Pledges Faster E-Khata Processing Amid Citizen Complaints

Facing mounting complaints over delays in e-khata issuance, the Bruhat Bengaluru Mahanagara Palike (BBMP) has promised to resolve the issue within 10 days. BBMP Chief Commissioner Tushar Giri Nath assured citizens that efforts are underway to expedite processing rates from the current 2,000 to a target of 10,000–15,000 applications daily. "We have cleared 90% of the 90,000 pending applications, leaving only 4,500 to process. To meet the demand, over 800 additional staff and assistant revenue officers (AROs) have been deployed to manage applications in each ward," Nath stated. Persistent Dela..

Next Story
Real Estate

Delhi HC Orders DDA to Assist CBI in Housing Lapses Probe

The Delhi High Court has instructed the Delhi Development Authority (DDA) to fully cooperate with the Central Bureau of Investigation (CBI) in its probe into alleged lapses in the construction of 336 high-rise HIG/MIG houses at Signature View Apartments, north Delhi. Justice Chandra Dhari Singh emphasized that DDA must furnish information about any internal inquiry and the officials involved to facilitate the investigation. The court noted CBI’s submission that DDA had not responded to multiple reminders since July, delaying the probe. The CBI is investigating allegations of "cheating, crimi..

Next Story
Infrastructure Urban

Mahindra Lifespace to Appeal Tamil Nadu GST Tax Demand

Mahindra Lifespace Developers Ltd has announced a tax demand of Rs 20.9 million imposed by the Tamil Nadu GST department, including interest and penalties. The order, issued by the Assistant Commissioner of State Tax, Chengalpattu, cites an alleged shortfall in GST payments under Section 74 of the GST Act, 2017. The realty firm refuted the allegations, stating, “Based on the company's assessment, there is no noncompliance, and a general penalty has been imposed.” The company plans to appeal the order, expressing confidence in a favorable resolution. Mahindra Lifespace assured stakeholders ..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000