MMRDA Raises Rs 3,840 Cr From BKC Plot Auction, Strong Demand Reflects Investor Confidence

Mumbai: The Mumbai Metropolitan Region Development Authority (MMRDA) has successfully auctioned three prime commercial plots in the prestigious Bandra-Kurla Complex (BKC), raising over Rs 3,840 crore. The bids, opened on Friday, attracted strong interest from leading investors, highlighting the robust demand for commercial spaces in Mumbai's financial hub.

Top Bidders and Record-Breaking Premiums

Japanese firm Sumitomo Corporation’s Indian arm, Goisu Realty Pvt Ltd, emerged as the highest bidder for Plots C-13 and C-19. For Plot C-13, Goisu Realty offered Rs 1,360.48 crore, surpassing the reserve price of Rs 974.51 crore. This translates to a premium of 39.61% with a bid rate of Rs 4,80,945 per square metre. Similarly, for Plot C-19, the company bid Rs 1,177.86 crore, 40.20% above the reserve price of Rs 840.12 crore, with a rate of Rs 4,82,992 per sq. metre.

For Plot C-80, a consortium led by Schloss Bangalore Ltd, along with Arliga Ecospace Business Parks and Schloss Chanakya Pvt Ltd, emerged as the highest bidder with an offer of Rs 1,302.16 crore. This bid was 12.34% above the reserve price of Rs 1,159.16 crore, with a premium rate of Rs 3,87,000 per sq. metre.

Investor Confidence in Mumbai’s Business Hub

The strong bidding turnout and significant premiums reflect high investor confidence in Mumbai’s prime business district. The successful auction underscores the growing demand for premium commercial real estate in BKC, reinforcing its status as a lucrative investment destination.