BMC Secures Rs 13.51 bn Top Bid for Century Mills Redevelopment
ECONOMY & POLICY

BMC Secures Rs 13.51 bn Top Bid for Century Mills Redevelopment

After a two-decade struggle, 650-odd families of former Century Mills workers have a path to receive new homes on a six-acre plot in Lower Parel. This follows the Brihanmumbai Municipal Corporation (BMC) receiving a Rs 13.51 bn bid from Peddar Realty, the highest among four bidders for redevelopment of the site.

The Rs 13.51 bn figure is among the highest received in recent years for former mill land in the city but remains below the Rs 15.05 bn paid for the 8.37-acre Bharat Textile Mills site in 2010. The civic body opened bids in December and besides Peddar Realty received offers from K Raheja Corp, Keystone Realtors and Shapoorji Pallonji Real Estate. The reserve price was set at Rs 13.48 bn while the six-acre parcel is currently valued at around Rs 6.60 bn.

The plot contains 23 buildings with 476 tenements occupied by eligible mill workers' families and 10 shops. The BMC plans a high-rise residential complex modelled on MHADA projects, with rehabilitation flats allocated to eligible tenants and additional apartments to be sold in the open market to generate revenue. The lease term is 30 years with a renewable clause and the proposal to appoint the highest bidder will be placed before the improvements committee for approval before contract award.

Residents have waited nearly two decades since the mill closed in December 2006 and campaigners have said at least 250 workers died awaiting rehabilitation. Officials indicated that new flats will measure about 405 sq ft depending on the scheme chosen by the developer and that cluster redevelopment can follow DCPR provisions used for dilapidated structures. The tenants first received eviction notices in February 2025 after a Supreme Court ruling affirmed BMC ownership of the 25,000 square metre (six point one seven-acre) plot, clearing the way for redevelopment work after a long legal dispute.

After a two-decade struggle, 650-odd families of former Century Mills workers have a path to receive new homes on a six-acre plot in Lower Parel. This follows the Brihanmumbai Municipal Corporation (BMC) receiving a Rs 13.51 bn bid from Peddar Realty, the highest among four bidders for redevelopment of the site. The Rs 13.51 bn figure is among the highest received in recent years for former mill land in the city but remains below the Rs 15.05 bn paid for the 8.37-acre Bharat Textile Mills site in 2010. The civic body opened bids in December and besides Peddar Realty received offers from K Raheja Corp, Keystone Realtors and Shapoorji Pallonji Real Estate. The reserve price was set at Rs 13.48 bn while the six-acre parcel is currently valued at around Rs 6.60 bn. The plot contains 23 buildings with 476 tenements occupied by eligible mill workers' families and 10 shops. The BMC plans a high-rise residential complex modelled on MHADA projects, with rehabilitation flats allocated to eligible tenants and additional apartments to be sold in the open market to generate revenue. The lease term is 30 years with a renewable clause and the proposal to appoint the highest bidder will be placed before the improvements committee for approval before contract award. Residents have waited nearly two decades since the mill closed in December 2006 and campaigners have said at least 250 workers died awaiting rehabilitation. Officials indicated that new flats will measure about 405 sq ft depending on the scheme chosen by the developer and that cluster redevelopment can follow DCPR provisions used for dilapidated structures. The tenants first received eviction notices in February 2025 after a Supreme Court ruling affirmed BMC ownership of the 25,000 square metre (six point one seven-acre) plot, clearing the way for redevelopment work after a long legal dispute.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

PMC Approves Rs 5.78 bn Waste Processing Contract

The Pune Municipal Corporation approved a Rs 5.7796 billion (bn) fifteen-year contract to process 500 metric tonnes (t) of waste daily at the Devachi Uruli depot and allowed unauthorised overhead cables to remain temporarily for one year subject to a fee. The decision was taken by the civic body to appoint a private operator for an integrated waste facility covering about 12 acres. The approval frames the contract as an operational arrangement with a fixed base rate and annual adjustments. The contract was awarded to Bhoomi Green Energy Envirocare LLP, which quoted Rs 772 per t, compared with ..

Next Story
Infrastructure Urban

Kerala High Court to Inspect Brahmapuram Waste Plant

Two judges of the Kerala High Court, Justice Bechu Kurian Thomas and Justice Gopinath P, will inspect the Brahmapuram waste management plant on 11 September as part of the suo motu proceeding on the plant's maintenance. The inspection was scheduled to allow the bench to assess conditions on site and to verify representations made by municipal and state authorities. The court listed the site visit during a hearing and directed officials to prepare for an on-site review. The bench instructed authorities to file a detailed report on the plant's present functioning ahead of the visit. It said the ..

Next Story
Infrastructure Transport

Ahmedabad Geetamandir Bus Port Terminal Two Ready with Airport Facilities

Ahmedabad’s Geetamandir Bus Port has completed a separate Terminal Two, which is ready to serve passengers travelling to Saurashtra-Kutch and North Gujarat. The facility has been developed with airport like facilities to improve passenger comfort and ease of travel. Deputy Chief Minister Harsh Sanghvi is scheduled to inaugurate the new terminal today. Authorities say the design focuses on smoother boarding and reduced congestion. Terminal Two will become operational from 13 August and is expected to handle 1,091 buses daily servicing routes to Saurashtra-Kutch and North Gujarat. The new arra..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement