Mumbai: MMRDA extends deadline for lease of 2 commercial plots in BKC

According to the MMRDA plan, these two plots will be auctioned to the highest bidder

Sweety AdimulamUpdated: Sunday, June 12, 2022, 11:24 PM IST
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The Mumbai Metropolitan Region Development Authority (MMRDA) has extended the deadline for leasing out two commercial plot in Bandra Kurla Complex (BKC), allowing bidders to send their bids up to July 11 instead of the earlier deadline set for June 10. The plots in question – C69C and C69D – fall in the G block.

According to the MMRDA plan, these two plots will be auctioned to the highest bidder. The C69D plot comprises over 6,000 sq mtrs of area, with a permissible built-up area of 30,000 sq mtrs. The reserve price for this particular plot is Rs 3,44,448 per sq mtr, meaning bidders have to quote above this price. Meanwhile, the earnest money deposit through bank guarantee is Rs 20 crore and an online transfer fee is Rs 5 lakh. The tender fee cost is Rs 1 lakh.

Similarly, the C69C plot comprises 5,800 sq mtrs of area, with a built-up area of 30,000 sq mtrs and a reserve price of Rs 3,44,448 per sq mtr.

According to the MMRDA, they lease out land parcels to raise funds for ongoing projects, and further improve development and proposed infrastructure projects.

With the real estate sector seeing a favourable market, the MMRDA is trying to encash the opportunity. However, it tried to lease out two similar properties in BKC earlier, but the previous plots were taken back due to lack of expected response to the leasing proposal. Now MMRDA has proposed to lease out the two new plots in BKC. The MMRDA has a huge land bank in BKC which it monetises to carry out infrastructure projects.

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