Medanta Hospital Wins Mhada Auction for 2.2-Acre Oshiwara Plot in Mumbai
Get insights into the bids and developments in Mumbai real estate, as Medanta hospital acquires a 2.2-acre Mhada plot in Oshiwara for Rs 125 crore.
Mumbai Real EstateMedanta HospitalMhada AuctionHospital Bed To Population RatioAndheri Dahisar BeltReal Estate MumbaiJul 17, 2024
The auction, conducted online by Mhada on Tuesday, saw several other plots being auctioned off to various bidders. Pragat Shikshan Sanstha emerged as the highest bidder for a half-acre plot at the Malwani Mhada layout in Malad, designated for an educational facility, offering Rs 11 crore. Another half-acre plot reserved for educational facilities at the Tagore Nagar Mhada layout in Vikhroli received the highest bid of Rs 12 crore. Radhikabai Meghe Women’s Education Institute bid Rs 26 crore for a 0.8-acre plot in the same layout, reserved for educational purposes.
A 0.74-acre plot at Kannamwar Nagar in Vikhroli, reserved for a women’s polytechnic institute, was acquired by Navchetna Charitable Trust with a bid of Rs 18 crore. Kannamwar Nagar and Tagore Nagar are among the oldest Mhada layouts in the city, developed in the 1960s. The government has announced cluster redevelopment for all such layouts. However, Sanjeev Jaiswal, vice-president and managing director of Mhada, clarified that the auctioned plots are amenity plots and their auction would not impact cluster redevelopment.
All the plots will be leased for a period of 30 years. The Andheri-Dahisar belt, where the Oshiwara plot is located, has a few big hospitals, but it is estimated that the area has one of the lowest hospital bed-to-population ratios in the city. Due to the high cost of real estate, many hospital chains have been unable to make inroads here. However, with Medanta Hospital set to establish a presence in the area, Mumbaikars can expect better access to quality healthcare services.
Information
Mhada, or Maharashtra Housing and Area Development Authority, is a statutory body established in 1947 to provide affordable housing to the people of Maharashtra. Over the years, Mhada has developed several layouts across Mumbai, including Kannamwar Nagar and Tagore Nagar, which are among the oldest Mhada layouts in the city.
Medanta Hospital, operated by Global Health Pvt Ltd, is a leading multi-specialty hospital chain in India, known for its state-of-the-art facilities and quality healthcare services. The hospital has several branches across the country, including in Gurgaon, Delhi-NCR, and now, Mumbai.
Frequently Asked Questions
What is the total area of the Mhada plot acquired by Medanta hospital?
The total area of the Mhada plot acquired by Medanta hospital is 2.2 acres.
What was the base price of the Mhada plot auctioned off to Medanta hospital?
The base price of the Mhada plot auctioned off to Medanta hospital was Rs 67.49 crore.
Who was the highest bidder for the half-acre plot at the Malwani Mhada layout in Malad?
Pragat Shikshan Sanstha was the highest bidder for the half-acre plot at the Malwani Mhada layout in Malad, offering Rs 11 crore.
What is the duration of the lease for the plots auctioned off by Mhada?
The duration of the lease for the plots auctioned off by Mhada is 30 years.
What is the significance of Medanta hospital establishing a presence in the Andheri-Dahisar belt?
The significance of Medanta hospital establishing a presence in the Andheri-Dahisar belt is that it will provide better access to quality healthcare services to Mumbaikars, given the area's low hospital bed-to-population ratio.
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