Particle.news
Download on the App Store
3 ARTICLES
·
last mo.

BEST Issues Tender for Altamount Road Staff Flats as Workers’ Union Calls for Scrapping Plan

The transport utility plans to target corporate tenants for a 30-year lease to help cover its ₹9,500 crore in cumulative losses.

The 35 apartments are spread across two wings of a building adjacent to Antilia, the residence of Reliance Industries chairman and managing director Mukesh Ambani. (Anshuman Poyrekar/ Hindustan Times)

Overview

  • BEST issued a tender to lease 35 staff apartments on Altamount Road for ₹263 crore over a 30-year period, extendable for another 30 years.
  • The apartments, located beside Antilia, must be used solely for residential purposes, with lessees responsible for maintenance and prohibited from subleasing.
  • The lease allows interior modifications without expanding built-up area and permits redevelopment only with BMC certification and adherence to original building plans.
  • Facing cumulative losses of around ₹9,500 crore, BEST is monetising non-core assets to plug budget shortfalls after fare hikes delivered limited relief.
  • The BEST Workers’ Union formally protested on August 9, appealing to Chief Minister Devendra Fadnavis to cancel the plan over worries about employee housing and community disruption.