MMRDA offers discounted BKC rates to boost development
ECONOMY & POLICY

MMRDA offers discounted BKC rates to boost development

To boost development of remaining plots in the E and G blocks, the Mumbai Metropolitan Region Development Authority (MMRDA) is offering a special promotional rate for additional built-up area (BUA) at the International Finance and Business Centre (IFBC) in Bandra Kurla Complex (BKC). This offer, available for one year starting mid-July, aims to attract competitive bidding and support the redevelopment of existing plots.

The new rates for additional Floor Space Index (FSI) will be based on the Annual Schedule of Rates (ASR), aligning with the current ready reckoner rates. Previously, additional BUA was charged at the same high rates as existing BUA, which limited development due to the high cost in BKC.

With the introduction of these subsidized rates, the MMRDA hopes to encourage more development proposals. This move also stands to generate revenue for the authority, which is managing projects worth Rs 1,03,622 crore across 37 initiatives in the Mumbai Metropolitan Region (MMR). These include eight Metro line projects and 29 transport infrastructure upgrades.

The promotional rates were approved by the Urban Development Department (UDD) under Chief Minister Eknath Shinde, following a proposal from a high-power committee set up in 2022.

To boost development of remaining plots in the E and G blocks, the Mumbai Metropolitan Region Development Authority (MMRDA) is offering a special promotional rate for additional built-up area (BUA) at the International Finance and Business Centre (IFBC) in Bandra Kurla Complex (BKC). This offer, available for one year starting mid-July, aims to attract competitive bidding and support the redevelopment of existing plots. The new rates for additional Floor Space Index (FSI) will be based on the Annual Schedule of Rates (ASR), aligning with the current ready reckoner rates. Previously, additional BUA was charged at the same high rates as existing BUA, which limited development due to the high cost in BKC. With the introduction of these subsidized rates, the MMRDA hopes to encourage more development proposals. This move also stands to generate revenue for the authority, which is managing projects worth Rs 1,03,622 crore across 37 initiatives in the Mumbai Metropolitan Region (MMR). These include eight Metro line projects and 29 transport infrastructure upgrades. The promotional rates were approved by the Urban Development Department (UDD) under Chief Minister Eknath Shinde, following a proposal from a high-power committee set up in 2022.

Next Story
Products

unWOOD transforms plastic waste into durable wood alternative

unWOOD, a breakthrough innovation, is converting hard-to-recycle plastic waste into a durable alternative to natural wood. Developed through a proprietary process called Intelligent Compounding, unWOOD uses a Macro Molecular Fiber Matrix (MMFM) structure to replicate the strength, look, and feel of hardwood—without the environmental cost.Conceptualised by Dr Babu Padmanabhan, the material addresses key flaws in traditional plastic recycling by consuming minimal energy, using zero water, and generating no microplastics. “Any application that introduces plastics into areas where it cannot be..

Next Story
Real Estate

India's first AI-integrated campus announced in Noida

Yashoda Hospital and Bhutani Infra have announced plans to develop India’s first fully AI-integrated mixed-use campus in Greater Noida West. The upcoming project will feature a hospital, retail spaces, offices, SOHOs, serviced apartments, and a hotel—all operating within a self-learning, generative AI-powered ecosystem.The AI-first campus will integrate real-time data systems, predictive analytics, and adaptive infrastructure to offer personalised experiences across functions. From AI-enabled footfall tracking and dynamic energy optimisation to smart F&B and retail insights, the develo..

Next Story
Infrastructure Urban

Postal Dept Unveils Stamp Honouring 125 Years of Kodaikanal Observatory

The Department of Posts is proud to release a commemorative postage stamp celebrating 125 years of the Kodaikanal Solar Observatory (KSO). Recognising the legacy of the KSO through this special stamp is a fitting tribute to one of India’s most significant scientific institutions and highlights the nation’s long-standing contribution to global science.The Commemorative stamp was released by S Rajendra Kumar, Chief Postmaster General, Karnataka Circle in the gracious presence of A S Kiran Kumar, Chairperson, Governing Council, IIA and Former Chairman, ISRO and other esteemed guests at Indian..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?