+
MMRDA waits to lease plots to part finance infra projects in Mumbai
Real Estate

MMRDA waits to lease plots to part finance infra projects in Mumbai

The Mumbai Metropolitan Region Development Authority (MMRDA) has been waiting for two plots in the Bandra Kurla Complex (BKC) to be leased out for a long time.

To help fund infrastructure projects, MMRDA is looking to lease out two plots in Mumbai and the rest of the Mumbai Metropolitan Region (MMR).

Within the Bandra Kurla Complex's Central Business District, the MMRDA has been attempting to monetise plots C-44 and C-48. It aims to raise at least Rs 3,44,448 per sq m of allowable built-up area.

The combined plot area of both land parcels is 6,018.90 sq m, with a permitted built-up area of 30,000 sq m.

As a result, the MMRDA expects to raise a minimum of Rs 1,033.34 crore at the reserve price.

The MMRDA has been attempting to monetize its Bandra Kurla Complex land bank for several years. It first advertised plot C-65 for lease in 2016, but it didn't receive a bid until early 2019 when it also advertised plots C-44 and C-48.

Sumitomo Corporation, a Japanese conglomerate, purchased the C-65 plot for Rs 2,238 crore. The offer letter was written to Goisu Realty for an 80-year lease.

The MMRDA changed the reservation of all plots in the financial district from solely commercial to mixed-use – a mix of residential and commercial – to make the deal more lucrative for real estate players.

The MMRDA has been working on several infrastructure projects over the last few years, the most capital-intensive of which are the MMR metro lines. The total cost of all infrastructure projects exceeds Rs 1 lakh crore. It has borrowed money from international bilateral and multilateral development banks, among others, in addition to internal accruals.

Image Source


Also read: MMRDA to connect Ram Mandir railway station to Goregaon metro station

The Mumbai Metropolitan Region Development Authority (MMRDA) has been waiting for two plots in the Bandra Kurla Complex (BKC) to be leased out for a long time. To help fund infrastructure projects, MMRDA is looking to lease out two plots in Mumbai and the rest of the Mumbai Metropolitan Region (MMR). Within the Bandra Kurla Complex's Central Business District, the MMRDA has been attempting to monetise plots C-44 and C-48. It aims to raise at least Rs 3,44,448 per sq m of allowable built-up area. The combined plot area of both land parcels is 6,018.90 sq m, with a permitted built-up area of 30,000 sq m. As a result, the MMRDA expects to raise a minimum of Rs 1,033.34 crore at the reserve price. The MMRDA has been attempting to monetize its Bandra Kurla Complex land bank for several years. It first advertised plot C-65 for lease in 2016, but it didn't receive a bid until early 2019 when it also advertised plots C-44 and C-48. Sumitomo Corporation, a Japanese conglomerate, purchased the C-65 plot for Rs 2,238 crore. The offer letter was written to Goisu Realty for an 80-year lease. The MMRDA changed the reservation of all plots in the financial district from solely commercial to mixed-use – a mix of residential and commercial – to make the deal more lucrative for real estate players. The MMRDA has been working on several infrastructure projects over the last few years, the most capital-intensive of which are the MMR metro lines. The total cost of all infrastructure projects exceeds Rs 1 lakh crore. It has borrowed money from international bilateral and multilateral development banks, among others, in addition to internal accruals. Image Source Also read: MMRDA to connect Ram Mandir railway station to Goregaon metro station

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code