Mumbai News: BMC Extends Auction Deadline For 23,822 Sq M Century Mills Land Parcel In Lower Parel After No Bids; Lease Valued At ₹1,348 Crore
BMC has extended the auction deadline for a 23,822 sq m Lower Parel land parcel valued at ₹1,348 crore after no bids were received. The plot was reclaimed by the civic body following a Supreme Court ruling in its favour.
BMC extends tender deadline for the prime Century Mills land parcel in Lower Parel after failing to receive bids in the initial round | File Photo
Mumbai, March 3: The auction of a 23,822 sq m land parcel in Lower Parel has been extended after the BMC failed to attract bidders. The prime plot, originally leased in 1927 to Century Spinning and Manufacturing Ltd., was taken over by the civic body last year following a prolonged legal battle.
The BMC has invited bids to lease the land for 30 years — extendable by another 30 — under a public-private participation model, with an expected revenue of around Rs 1,348 crore.
Lease history and Supreme Court ruling
The plot was originally leased to M/s Century Spinning and Manufacturing Ltd. (now Century Textiles & Industries Ltd.) for 28 years from April 1, 1927, to house employees from the poorer class. The lease deed was executed on October 3, 1928, and expired in 1955.
After the lease lapsed, the company sought to transfer the land in its name instead of returning it. The BMC challenged the move in the Supreme Court of India. In January 2025, the apex court ruled in favour of the civic body, affirming that the land rightfully belongs to the BMC.
No bids received; deadline extended
The BMC-owned Lower Parel land now houses 476 residences, 10 shops and a school, with the prime plot valued at up to Rs 1,348 crore for lease. In January, the civic body invited tenders to lease the plot, but no bids were submitted by the original February 16 deadline.
“Though several companies showed interest, none submitted bids by February 16. We are addressing their queries, and the deadline has now been extended to March 16,” said a senior BMC official.
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Revenue to fund civic projects
In June 2025, the BMC auctioned two high-value plots near Crawford Market and Worli Asphalt Plant, fetching Rs 1,152 crore. The auction of the 2,432 sq m Malabar Hill plot was cancelled due to residents’ objections, though it is needed for a new substation. The revenue generated from leasing such properties will be utilised to complete ongoing civic projects, said a civic official.
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