Overview
- MMRDA has launched an e-tender for nine Bandra Kurla Complex parcels in G Block on 80-year leases with tender rules that set a pre-bid meeting and a bid deadline.
- The plots span 53,461 sq m and permit 212,764 sq m of construction, as an FSI of 4 lets developers build up to four times the plot area.
- Reserve prices add up to ₹9,284.88 crore, with commercial space priced at about ₹4.83 lakh per sq m of built-up area and residential at about ₹3.52 lakh per sq m.
- Officials say the land monetisation drive will help fund metro lines, road links and tunnels and reduce reliance on borrowing for projects exceeding ₹1.5 lakh crore.
- Market signals are mixed as the NSE just registered an 80-year lease for two nearby plots for about ₹1,684 crore, while earlier residential offerings drew no bids due to what experts call very high rates.