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

Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

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

Next Story
Infrastructure Transport

Anji Khad Bridge, India's First Cable-Stayed Rail Bridge Ready in J&K

Indian Railways has completed the Anji Khad Bridge, India’s first cable-stayed rail bridge, located in the Reasi district of Jammu and Kashmir. A critical component of the ambitious Udhampur-Srinagar-Baramulla Rail Link (USBRL) Project, this engineering marvel connects Katra and Reasi, promising enhanced regional connectivity and economic growth.Spanning 725.5 metres, the bridge features a 193-metre-tall main pylon, soaring 331 metres above the riverbed. Its design allows it to withstand wind speeds of up to 213 km/h and safely support train operations at speeds of 100 km/h.Constructed in th..

Next Story
Infrastructure Urban

Exporters Raise Logistics Costs Concerns with Piyush Goyal

Exporters and freight agencies have voiced concerns over high terminal handling charges at ports and the underutilisation of dry ports, adding to India’s overall logistics costs. During a meeting with Commerce and Industry Minister Piyush Goyal, they highlighted that the fees charged by shipping terminals for container storage and positioning before loading exceed port charges by Rs 10,000-15,000 per consignment. The discussion focused on logistics and shipping challenges, with the government actively working to reduce costs across the supply chain, according to an official. India is targe..

Next Story
Infrastructure Transport

Government to Revamp UDAN Scheme with Focus on Airport Readiness

The Indian government is set to revamp its regional air connectivity scheme, UDAN (Ude Desh ka Aam Nagrik), by prioritising airport readiness before inviting airlines to bid for operating routes. Financial support for the development of unserved airports and airstrips across the country is expected to be a key focus in the upcoming budget, along with stricter assessments of route feasibility, according to sources. Launched in 2017 to boost air travel in the world’s fastest-growing aviation market, the UDAN scheme caps airfares and provides subsidies to airlines for operating on less frequen..

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