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Key Points

Chief Minister Devendra Fadnavis announced the successful leasing of three major plots in the Bandra-Kurla Complex, earning MMRDA Rs 3,840.49 crore. The leases were awarded to Sumitomo Realty and Brookfield, with expectations of generating 15,000 jobs. This forms part of the MMRDA's Growth Hub Strategy, aligning with NITI Aayog initiatives. Fadnavis emphasized these investments as key steps toward making BKC a leading business hub in India.

Key Points: Fadnavis Announces MMRDA's Rs 3,840 Cr BKC Lease Deals

  • MMRDA leases BKC plots to Sumitomo and Brookfield
  • Plots expected to create 15,000 jobs
  • Part of MMRDA's Growth Hub Strategy aligned with NITI Aayog
2 min read

Maha: MMRDA earns Rs 3,840.49 crore from lease of three plots in BKC

MMRDA earns Rs 3,840 crore leasing BKC plots to Sumitomo and Brookfield.

"BKC is poised to become the top business hub in the country. - Chief Minister Devendra Fadnavis"

Mumbai, June 2

The Mumbai Metropolitan Region Development Authority (MMRDA) has earned Rs 3,840.49 crore through the lease of three prime commercial plots in Bandra-Kurla Complex (BKC), said Chief Minister Devendra Fadnavis on Monday.

He also handed over the allotment letters to international investors at a special event. Two plots were allotted to the Japanese firm Sumitomo Realty & Development Ltd, while one plot was allotted to Brookfield Strategic Real Estate, a global investment firm. The allotment ceremony took place in the presence of Additional Chief Secretary to the Chief Minister Vikas Kharge, Principal Secretary Ashwini Bhide, Additional Chief Secretary Asimkumar Gupta, MMRDA Commissioner Sanjay Mukherjee, and representatives from the Japanese delegation, said the government release.

Plots C-13 and C-19 were awarded to Goisu Realty Pvt Ltd, the Indian subsidiary of Sumitomo Realty & Development, which made the highest bids.

Plot C-80 was awarded jointly to Sklose Bangalore Pvt Ltd (an Indian arm of Brookfield Strategic Real Estate Partners III), Arliga Eco Space Business Park and Sklose Chanakya Pvt Ltd, which collectively made the top bid.

These leases will not only generate substantial revenue for MMRDA but are also expected to create approximately 15,000 high-tech jobs, said the release.

During the 55th Annual Meeting of the World Economic Forum (WEF), MMRDA had signed investment agreements worth USD 5 billion with Sumitomo and USD 12 billion with Brookfield.

“These developments are part of MMRDA’s Growth Hub Strategy and the G-Hub initiative of the NITI Aayog, aimed at fostering proactive investments. Maharashtra has set a goal of achieving a USD 300 billion economy and creating three million jobs in the Mumbai Metropolitan Region by 2030. With cutting-edge infrastructure, underground and elevated metros, and a bullet train network, BKC is poised to become the top business hub in the country,” said the Chief Minister.

- IANS

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Reader Comments

R
Rajiv P.
This is fantastic news for Mumbai's economy! BKC becoming a global business hub will create so many opportunities for our youth. The 15,000 jobs mentioned are just the beginning. Hope the infrastructure keeps pace with this rapid development. 🇮🇳
P
Priya M.
While foreign investment is good, I hope MMRDA ensures some plots are reserved for Indian companies too. We need to balance international and domestic growth. Also, will these developments consider affordable housing for employees? The city is becoming too expensive for middle-class workers.
A
Amit K.
₹3,840 crore is huge money! But where will this revenue be utilized? Hope it's not just for more luxury projects but also for improving public transport and basic amenities in other parts of Mumbai. The city needs balanced development, not just shiny towers in BKC.
S
Sanjana R.
Japanese investment in Mumbai is a great sign! Their companies bring excellent work culture and technology. Maybe we'll finally get those super-efficient Japanese-style public toilets in BKC? 😄 On serious note, this will boost Make in Maharashtra initiative.
V
Vikram S.
The bullet train network mentioned is crucial. Hope these investments accelerate that project too. Mumbai needs world-class connectivity to sustain this growth. But authorities must ensure local businesses aren't priced out of BKC - it shouldn't become only for MNCs.

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