Mumbai: The Mumbai Metropolitan Region Development Authority (MMRDA) has pushed further the date for the online tender process, to give two commercial plots on lease. These plots are in the in G-block of Bandra Kurla Complex (BKC). This decision has been taken due to the slump in the real estate market. Till now, the MMRDA has not received a response to the tender forcing them to extend the last date for online submission of plans, sources said.
According to the revised dates, interested companies can now submit their plan by October 20, which was previously October 14. The interested companies have to make an earnest money deposit through a bank guarantee worth Rs 20 crore, for the two land parcels which are of 6,018 square metres. The permissible built-up area on these plots is of 30,000 square metres and the reserve price is Rs 3.44 lakh per sq metres. Each has to quote above this price.
Though these plots are located in the prime business district, the authority has failed to find any strong bidders in the last six months.
Earlier in May, the MMRDA had invited companies to invest in three land parcels in BKC but managed to find a bidder for only one parcel till now. A Japanese company has quoted the highest price of Rs 2,238 crore for a three acre plot here, which is considered to be the largest land deal in India, till now.