MHADA Auctions 2-Acre Plot in Mumbai's Oshiwara to Medanta for Rs 125 Crore
MHADA sells prime plot in Mumbai's Oshiwara to Medanta for a whopping Rs 125 crore, more than 85% above the reserve price.
MhadaMedantaMumbai Real EstateOshiwaraE AuctionReal Estate MaharashtraJul 17, 2024
The e-auction, conducted by MHADA, saw intense bidding, with Medanta emerging as the highest bidder. The sale of the prime plot is expected to generate significant revenue for the state government and will also pave the way for the development of a world-class healthcare facility in the area.
MHADA, established in 1976, is responsible for providing affordable housing and infrastructure development in the state of Maharashtra. The organization has been instrumental in developing various housing projects and infrastructure facilities across the state.
Medanta, founded in 2009, is a leading healthcare provider in India, offering cutting-edge medical facilities and services. With this acquisition, Medanta is expected to set up a state-of-the-art hospital in Oshiwara, catering to the healthcare needs of the local population.
The sale of the plot is also seen as a positive development for the real estate sector in Mumbai, which has been facing a slowdown in recent years. The auction has set a new benchmark for land prices in the area, indicating a revival of interest in the Mumbai real estate market.
Maharashtra Housing and Area Development Authority (MHADA) is a state government agency responsible for providing affordable housing and infrastructure development in the state of Maharashtra. Medanta is a leading healthcare provider in India, offering cutting-edge medical facilities and services.
Maharashtra Housing and Area Development Authority (MHADA) is a state government agency established in 1976, responsible for providing affordable housing and infrastructure development in the state of Maharashtra. Medanta is a leading healthcare provider in India, founded in 2009, offering cutting-edge medical facilities and services.
Frequently Asked Questions
What is the reserve price of the plot auctioned by MHADA?
The reserve price of the plot was set at Rs 67.5 crore.
Who is the highest bidder for the MHADA plot in Oshiwara?
Medanta is the highest bidder for the MHADA plot in Oshiwara.
What is the sale price of the MHADA plot to Medanta?
The sale price of the MHADA plot to Medanta is Rs 125 crore.
What will Medanta set up on the acquired plot in Oshiwara?
Medanta will set up a state-of-the-art hospital on the acquired plot in Oshiwara.
What is the significance of the MHADA plot auction for the Mumbai real estate market?
The auction sets a new benchmark for land prices in the area, indicating a revival of interest in the Mumbai real estate market.
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