MMRDA gets bids from Japan's Sumitomo and Schloss Consortium for three plots in Mumbai's BKC for over ₹3,800 crore
MMRDA, the planning authority of Bandra Kurla Complex, will lease the three plots measuring more than 5 metres for a period of 80 years
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 (MMRDA) in the country’s most expensive commercial district, Bandra Kurla Complex. The land deals are expected to generate over ₹3,839 crore for MMRDA, a senior official from the authority told HT.com.
The MMRDA had kept a reserve price of over ₹2,973 crore by inviting bids last year.
The three land parcels measure over 21,578 sq meters and have a permissible built-up area potential of over 86,000 sq meters. These will be given on lease for a period of 80 years.
MMRDA commissioner Sanjay Mukherjee told HT.com that on 4th April 2025, the financial bids submitted for three commercial plots (C-13, C-19, and C-80) in Bandra-Kurla Complex were opened.
Among the bidders, Goisu Realty Pvt. Ltd (Sumitomo) emerged as the highest bidder for plots C-13 and C-19, quoting significantly above the reserve price with offers of ₹4,80,945 and ₹4,82,992 per sq meters of built-up area (BUA), reflecting premiums of 39.61% and 40.20% respectively.
Also Read: All that you need to know about Bandra Kurla Complex
"The second-highest bidder for the above two plots was Bandra Kurla Office Asset Pvt. Ltd., a wholly owned subsidiary of Mapletree Investments Pte Ltd, quoting ₹3,45,000 per sq meters marginally above the reserve price,” he said.
In the case of the third plot, Mukherjee said that for Plot C-80, the highest bid was received from the consortium led by Schloss Bangalore Ltd along with Arliga Ecospace and Schloss Chanakya Pvt. Ltd., quoting ₹3,87,000 per sq.m., a premium of +12.34% over the reserve rate.
"The strong bidding response, especially with the winning bids exceeding reserve prices by margins of up to 40%, reflects heightened market confidence and continued investment interest in Mumbai’s prime commercial real estate zone," Mukherjee said.
The three plots up for lease are in the G Block of BKC, which houses several multinational companies and banks and has the US consulate nearby.
BKC is home to several government offices, including MMRDA, GST, Reserve Bank of India, Income Tax Department, and Family Court. The US consulate is also located there near the Jio Convention Centre. Luxury hotels such as Sofitel and Trident are also in BKC.
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Prominent companies with offices in BKC include Jio, Apple, Netflix, Google, Facebook, Amazon, the National Stock Exchange, Standard Chartered Bank, WeWork, CISCO, Pfizer, Spotify, and Blackstone.
