Mumbai: MMRDA puts two plots in BKC on lease, hopes to rake in Rs 2,900 crore

After the wait of four years, the Mumbai Metropolitan Region Development Authority (MMRDA) has finally managed to lease out two of its prime plots in the business district of Bandra Kurla Complex for Rs. 2,067 crores. The bid was finalized on Rs 2 more than the reserved price stipulated by the development authority.

The plots were taken on lease by Goisu Realty Private Limited, a unit of Japan's headquartered Sumitomo Corporation, for the next 80 years. Listed in the Fortune Global 500 list, Sumitomo Corporation is a global network having an interest in a variety of products and services, import and export, trilateral trade, and domestic and international business investment.

Two plots, one having an area of 7,071.90 sqm(C13) and the other, 6,096.67 sqm (C-19). The development potential of Plot C-13 is 45,000 sqm of built-up area and that of plot C-19 is 40,000 sqm. The lease period offered is 80 years and the reserve price has been kept at Rs 3,44,5 sqm built-up area.