In a fresh development, the deadline for submission of bids for two amalgamated commercial plots in G-block of Bandra Kurla Complex (BKC), comprising nearly 6,018 sq m, has been extended by one more month; to August end from July 30.
The MMRDA has been trying to lease out these open land parcels for a long time. However, due to poor market conditions and the prevailing Covid-19 situation, it has been unable to draw a favorable response from the interested parties till date.
Interestingly, to obtain a favorable response, the two separate plots were combined so that more developers would show interest in the bidding process. Earlier, it tried offering three plots on lease separately, of which only one plot-(C-65) comprising 12,500 sq. mt obtained a response from Japan's Sumitomo in 2019. Reportedly it was the biggest land deal in the country and believed to bring revenue at base price of Rs 2,300 crore to the MMRDA.
In the fresh land monetization of the two combined plots in G block of BKC offered by the MMRDA the available built up area is 30,000 sq.mt and the reserve price per sq.mt is Rs 3.44 lakh. While an EMD of Rs 20 crore through bank guarantee and Rs 5 lakh through online transfer needs to be paid for participation. Meanwhile, the MMRDA will conduct e-auction with shortlisted bidders, it informed.
