Around four months ago, growing liquidity crisis in the real estate market saw no takers for two of the five residential and commercial plots at the Bandra-Kurla Complex (BKC) put under the hammer by the Mumbai Metropolitan Region Development Authority (MMRDA). But the lack of response hasnt affected the authoritys revenue generation plans.
Come August, the authority will put its biggest plot of 5,900 sq m with a developable space of 2.4 lakh sq ft on the block. Reserved for education or hospital purposes, the plot — located close to Bandra Kurla Complex (BKC) police station and IL&FS building — will be the first property to avail of a higher floor space index of 4 as against the existing 2 granted by the state government for BKC.
The authority is expecting to generate over Rs190 crore and has fixed a reserve price of Rs7,500 per sq ft, below which it will not accept any bids. Rs7,500 a sq ft was the highest price MMRDA received when the authority auctioned an 80,000 sq ft plot last year. Mukesh Ambani-owned Reliance Industries Ltd was the successful bidder as they wanted this plot as an extension to the school Ambanis operate at BKC.
More : dnaindia.com
Send an E-Mail for mumbai Property Enquiry!
Related News from Mumbai
Mumbai beggars earn Rs 180 crore a year
MUMBAI: Its a question the middle class asks every time a hand is stretched out piteously at a traffic signal, on a train, on the street. Is this a genuine case or a member of a syndicate? According to Social Justice Minister Dharmarao Baba Atram, Mumbais beggars collectively earn a whopping Rs180 crore every year, or about Rs50 lakh a month. Atram told the legislative council on Wednesday, Most of them are fit and fine, yet do not work for a living. They just beg. The government is thinking of bringing them under the Employment Guarantee Scheme. The last head
Rs 8.42 crore idle investment by MMRDA, says CAG
MUMBAI: The Mumbai Metropolitan Regional Development Authority (MMRDA), which undertakes planning and developing civic infrastructure projects in the Mumbai Metropolitan Region (MMR), has an idle investment of Rs 8.42 crore. These are the findings of the report of the Comptroller and Auditor General of India (CAG). According to the recent CAG report, MMRDA had constructed a shopping complex comprising four buildings with 283 shops, one floor for regional transport office (RTO) in December 1993. In 1997, the Authority constructed one amenity building comprising five office premises, four dormitories and 14 residential quarters at a total cost of Rs 12.12
Board nod for 2nd Mumbai metro line
Board nod for 2nd Mumbai metro line The Mumbai Metropolitan Regional Development Authority (MMRDA) board today gave its approval for the Rs 6,192-crore elevated second line of Mumbai Metro railway between Mankhurd-Bandra-Charkop. The approval was given at a board meeting chaired by chief minister Vilasrao Deshmukh. The project will soon go before the state cabinet for final approval. A special purpose vehicle will be formed for the project, to be constructed on a build operate own and transfer (BOOT) basis. The state government will have 26 per cent stake in the SPV. It was also decided that the state
Mumbai Metro: What’s on the negotiating table
Mumbai, February 12: FORTY per cent, at the very least. That’s how much tough-talking technocrats want Anil Ambani’s Reliance Energy Ltd (REL) to shave off from their demand for capital contribution from the government on the multi-crore Metro Rail project. In their financial bid to build the mass rapid transport system, the REL-Connex consortium has sought Rs 1,251 crore from the Mumbai Metropolitan Region Development Authority (MMRDA). It’s clear now that the agency had planned to pay less than half this sum at the outset. As the lowest bidder, the tender documents allow the MMRDA to negotiate with the
Mumbai Metro bids are too high, feels govt
Even as the state government is evaluating the bids for Mumbai Metro rail project, senior government officials said that the bids were on the higher side. “We were surprised to find the bids too high,” said T Chandrashekhar, additional commissioner of the project executor Mumbai Metropolitan Region Development Authority (MMRDA). He said Reliance Energy Ltd (REL) and IL&FS, the bidders, have asked for a viability gap funding between Rs 1,235 crore and Rs 1,269 crore. This, he said, was more than double what the government had envisaged earlier at around Rs 500 crore. Another senior government official