Mumbai: MMRDA Earns Rs 3,840.49 Crore from Lease of Prime Plots in BKC
The Mumbai Metropolitan Region Development Authority (MMRDA) has successfully leased three prime commercial plots in Bandra-Kurla Complex (BKC) to international investors, generating Rs 3,840.49 crore. The event marks a significant milestone in the region's economic growth.
MmrdaBkcReal EstateInvestmentDevelopmentReal Estate MumbaiJun 02, 2025
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, as stated in 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, as mentioned in 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.
Frequently Asked Questions
What is the total revenue generated from the lease of the three plots in BKC?
The lease of the three plots in BKC generated Rs 3,840.49 crore for the MMRDA.
Which international firms were awarded the plots in BKC?
The plots were awarded to Sumitomo Realty & Development Ltd and Brookfield Strategic Real Estate, a global investment firm.
How many high-tech jobs are expected to be created through these leases?
Approximately 15,000 high-tech jobs are expected to be created as a result of these leases.
What is the goal of the MMRDA’s Growth Hub Strategy?
The MMRDA’s Growth Hub Strategy aims to foster proactive investments and contribute to the economic growth of the Mumbai Metropolitan Region.
What is the target economy size for Maharashtra by 2030?
Maharashtra aims to achieve a USD 300 billion economy by 2030.
Related News Articles
WSB Real Estate secures ₹7 billion for mid-income housing projects
WSB Real Estate has raised ₹7 billion to fund mid-income and affordable housing projects, marking a significant investment in India's real estate sector.
Adani Group to Build ₹83,947 Crore Semiconductor Plant in Maharashtra with Israeli Partner
The Adani Group is set to construct a semiconductor fabrication plant with its Israeli partner, Tower Semiconductor Ltd, with an investment of ₹83,947 crore.
Pune's Property Market Sees 3% YoY Growth in Registrations, Despite 26% Decline in Last Four Months
Pune real estate market records 40% increase in stamp duty collections, while property registrations see a 3% year-on-year growth. What's behind the monthly moderation in property registrations?
Maharashtra Approves Cost Increase for Pune Ring Road Project
The Maharashtra cabinet has recently approved a substantial increase in the cost for the Pune Ring Road (East) project, aimed at easing traffic congestion and improving connectivity in the region.
IBBI Suggests Reforms to Boost Real Estate Insolvency Processes
The Insolvency and Bankruptcy Board of India (IBBI) has proposed several reforms to enhance the real estate insolvency process. These reforms include the inclusion of land authorities in creditor meetings to ensure better transparency and resolution.
Rajan Bharti Mittal Aims to Boost ARPU to Rs 300: Moody’s Upgrade a Positive Step
Rajan Bharti Mittal, the chairperson of Bharti Enterprises, has set a bold target to boost the Average Revenue Per User (ARPU) to Rs 300. This comes after Moody’s recent rating upgrade, which Mittal believes is a strong reflection of the company’s financi