A union led by Sumitomo and Brookfield, Japan, has emerged as the highest bidders for the three major land parcels auctioned by the Mumbai Metropolitan Area Development Authority (MMRDA) at the country's most expensive commercial district, Bandra Kurla Complex. Expected to produce more than land deals 3,839 crore for MMRDA, a senior authority official told ht.com.
MMRDA kept the reserved price of the over 2,973 crore by inviting dialects last year.
Three land parcels measure more than 21,578 square meters and have an permissible field capacity of over 86,000 square meters. They will be leased for a period of 80 years.
MMRDA Commissioner Sanjay Mukherjee told HT.com that on April 4, 2025, financial bids presented for three commercial plots (C-13, C-19 and C-80) were opened at the Bandra-Kurla Complex.
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Among the dialects, Goisu Realty Private. Limited (Sumitomo) emerged as the highest bidder for plots C -13 and C -19, quite above the reserved value with offer proposals 4,80,945 and 4,82,992 per square meter built-up area (BUA), showing a premium of 39.61% and 40.20% respectively.
Also read: All you need to know about the Bandra Kurla Complex
“The second largest bid for the above two plots, Bandra Kurla Office Asset Private Limited, a fully owned subsidiary of Mapletry Investments PTE Limited. Little above 3,45,000 per square meter reserve price, ”he said.
In the case of the third plot, Mukherjee said that for Plot C -80, the highest dialect was obtained from the Consortium, headed with Shlos Bangalore Limited as well as Arliga EcoSpace and Shloss Chanakya Private. Ltd. 3,87,000 per sqm, a premium of more than the reserved rate +12.34%.
Mukherjee said, “The strong dialect response, especially with the winning bids over the margins of up to 40%, reflects the confidence of the market and continues the interest of investing in Mumbai's major commercial real estate sector,” Mukherjee said.
Three plots for lease are in BKC's G Block, which includes many multinational companies and banks and have American consulate nearby.
BKC is home to several government offices, including MMRDA, GST, Reserve Bank of India, Income Tax Department and Family Courts. The US Consulate is also located near the Jio Convention Center. Luxury hotels like softels and tridents are also in BKC.
Also read: Mumbai Real Estate: MMR Homebuyers are likely to be affected by a 10% increase in ready records.
BKC includes Jio, Apple, Netflix, Google, Facebook, Amazon, National Stock Exchange, Standard Chartered Bank, Well, Cisco, PFIZER, Spotify and Blackstone.
