Mumbai, Dec 12: The BMC has put a fifth land parcel, measuring about 23,822 sq m, up for auction in Lower Parel. The plot, originally leased in 1927 to Century Spinning and Manufacturing Ltd., was taken over by the civic body this year after a long legal battle.
The civic authorities have now invited tenders to lease the prime plot for 30 years, extendable by another 30 under a private participation model, and expect to generate around Rs 1,348 crore. Last month, the civic body had also offered another prime parcel, near the Bandra-Worli Sea Link (BWSL), for lease.
History of Lower Parel Land Parcel
According to the tender document, the Lower Parel land parcel was leased to M/s Century Spinning and Manufacturing Limited (now Century Textiles & Industries Limited) for 28 years from April 1, 1927, for the purpose of housing employees from the poorer class.
The Lease Deed was executed on October 3, 1928, and expired in 1955. However, instead of returning the land, Century Mill sought to transfer the land to its name after the lease expired, but the BMC challenged this in the Supreme Court.
In January 2025, the court ruled in favour of the BMC, confirming that the land belongs to the civic body. “The land now owned by the BMC comprises 476 residences, 10 shops and one school, with the prime plot valued for lease at up to Rs 1,348 crore,” mentions the tender document.
Tender Timeline Announced
The last date for tender submission is January 30, 2026, and Packet C will be opened on February 12, 2026. In November, another plot measuring 1,299.52 sq m near the BWSL was put up for lease.
Under the Development Plan-2034, it is reserved for public recreational facilities such as a club or gymkhana. Originally allotted to a private party for maintenance in 1937, the land later came under a private developer.
Following a prolonged legal battle that reached the Supreme Court, the BMC’s G South Ward regained possession last year. While it was initially intended for a gymkhana for municipal officials, the civic body invited bids for leasing the property on Friday, with estimated revenue of Rs 95 crore.
Earlier High-Value Land Auctions
In June, the BMC auctioned two high-value plots near Crawford Market and Worli Asphalt Plant, fetching Rs 1,152 crore, while another Worli plot remains open.
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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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