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4w ago

MMRDA Secures ₹3,840.50 Crore from BKC Land Leases

Japanese firm Sumitomo and Schloss Bangalore-led consortium win bids for three commercial plots, exceeding reserve prices by up to 40%.

Mumbai real estate update: Japan’s Sumitomo and a consortium led by Brookfield have emerged as the highest bidders for three prime land parcels auctioned by the Mumbai Metropolitan Region Development Authority. (Picture for representational purposes only)
View of BKC from Wockhardt terrace, BKC, Bandra in Mumbai.
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Overview

  • The Mumbai Metropolitan Region Development Authority (MMRDA) finalized the auction of three Kurla Complex (BKC) plots, generating ₹3,840.50 crore in revenue.
  • Goisu Realty Pvt. Ltd (Sumitomo) won two plots, C-13 and C-19, with bids 39.61% and 40.20% above reserve prices, marking its fourth investment in BKC.
  • A consortium led by Schloss Bangalore Ltd secured the third plot, C-80, with a bid 12.34% above the reserve price.
  • The three plots, with a combined permissible built-up area of over 86,000 square meters, will be leased for 80 years.
  • Proceeds from the leases will fund critical infrastructure projects across the Mumbai Metropolitan Region, reinforcing BKC's status as a premier business hub.