MMRDA extends deadline of BKC amalgamated plots by one month

The Mumbai Metropolitan Region Development Authority (MMRDA) has extended the deadline of bidding for the Bandra Kurla Complex (BKC) amalgamated two plots (C-44 and C-48, in G-block) by one more month.

Now, the last date to submit bids has been extended to February 8 from January 7. It is offering 6,018.90 square metres (sq m) of commercial area on lease. The permissible built up area is 30,000 sq m and the reserve price on it is Rs 344,448/sq m.

As per the plan, MMRDA will conduct E-auction with the received eligible bidders. Those who will quote above the reserve price the property will be sold.

Interested bidders need to provide earnest money deposit (EMD) of Rs 20 crore through bank guarantee and Rs five lakh EMD through online transfer. The tender fees is Rs one lakh.

Reportedly, the MMRDA had been trying to auction the BKC land from 2019 however, it failed to receive any favorable response. The slow down in the real estate market and liquidity crisis issue with developers, the commercial plots despite located in the heart of the city did not yield any response. Earlier, the two plots were offered on lease separately however MMRDA later amalgamted these plots to attract bidders interest.

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