MMRDA gets Rs 3,840 cr from auction of three prime BKC plots

Mumbai, Apr 4 (PTI) The Mumbai Metropolitan Region Development Authority (MMRDA) netted more than Rs 3,840 crore from the auction of three prime commercial plots in Bandra-Kurla Complex (BKC), the bids of which were opened on Friday, officials said.

Japanese firm Sumitomo Corporation's Indian arm, Goisu Realty Pvt Ltd, emerged as the highest bidder for Plots C-13 and C-19, while a consortium led by Schloss Bangalore Ltd bagged Plot C-80, they said.

MMRDA had invited bids for leasing out three prime plots in BKC, the biggest business district of the country's financial capital, for 80 years, they added.

"On Friday the bids were opened. Goisu Realty quoted Rs 1,360.48 crore for Plot C-13, against a reserve price of Rs 974.51 crore, translating to Rs 4,80,945 per square metre of built-up area (BUA) premium of 39.61 per cent. For Plot C-19, the company bid Rs 1,177.86 crore against the reserve of Rs 840.12 crore, with a rate of Rs 4,82,992 per sq. metre, marking a 40.20 per cent premium," an official said.

In both cases, the second-highest bid came from Bandra Kurla Office Asset Pvt Ltd, a subsidiary of Mapletree Investments Pte Ltd, which quoted Rs 3,45,000 per sq. metre, which was marginally above the reserve, he said.

"For Plot C-80, the highest offer of Rs 1,302.16 crore was submitted by a consortium of Schloss Bangalore Ltd, Arliga Ecospace Business Parks, and Schloss Chanakya Pvt Ltd. The quoted rate of Rs 3,87,000 per sq. metre was 12.34 per cent above the reserve price of Rs 1,159.16 crore," he informed.

The strong bidding turnout highlights the strong demand for commercial space in BKC, the official pointed out.

"The winning bids reflected strong premiums of up to 40 per cent over reserve prices, indicating buoyant investor confidence in Mumbai's prime business district," he asserted. PTI KK BNM

Source: PTI