SBI to Acquire 200 2BHK Flats in Mumbai for ₹294 Crore: A Strategic Move for Staff Housing
The State Bank of India (SBI) has issued a tender to purchase 200 ready-to-move-in 2BHK flats in Mumbai for ₹294 crore, with strict criteria for developer participation.
Mumbai Real EstateSbi2 Bhk ApartmentBulk Housing DealSbi Staff ApartmentsReal Estate MumbaiOct 07, 2025
As per the documentation released on 7 October, the lender has issued a tender inviting developers to submit bids for units in four specific property clusters. The bank intends to buy 50 units in each of the identified clusters.
For the central suburbs, SBI has earmarked ₹84 crore (excluding taxes) for the acquisition of 50 2-bedroom apartments. In the western suburbs, the estimated cost for 50 similar units is ₹108 crore (excluding taxes), according to the tender document. For the Thane–Kalyan region, the lender has set aside ₹54 crore, while for the Kharghar–Panvel region, the estimated allocation stands at ₹48 crore.
Unit Requirements
Each flat must have a MahaRERA carpet area of approximately 55.74 sq. m. (600 sq. ft.). The properties must be less than five years old.
Procurement Rules
The tender outlines strict criteria for developer participation and the properties themselves. Only projects registered with the Maharashtra Real Estate Regulatory Authority (MahaRERA) are eligible to bid. Crucially, the flats must be ready-to-move-in with all necessary regulatory approvals and Occupancy Certificates (OCs) already in place.
Registration and Approvals
Developers must be capable of handing over the completed flats to the bank within 180 days of the agreement. The entire transaction is expected to be finalised within six months from the issuance of the Letter of Intent (LoI).
Ownership and Title
Preference will be given to projects under a single ownership with clear and marketable titles. To ensure a direct deal, brokers and intermediaries are strictly forbidden from participating in the bidding process.
The successful bidders will be selected based on a 60:40 techno-commercial scoring system. This comprehensive evaluation will assess various factors, including technical (60%) and financial (40%) aspects.
In addition to the 200 residential units, SBI's purchase plan also mandates the acquisition of 400 parking spaces in total, comprising 200 dedicated car parking spots and 200 two-wheeler parking slots.
Frequently Asked Questions
What is the total value of SBI's bulk acquisition of 2BHK flats in Mumbai?
The total value of SBI's bulk acquisition of 200 2BHK flats in Mumbai is approximately ₹294 crore, excluding statutory taxes.
How many units is SBI planning to purchase in each property cluster?
SBI is planning to purchase 50 units in each of the four identified property clusters.
What are the specific regions where SBI is acquiring these flats?
SBI is acquiring flats in the central suburbs, western suburbs, Thane–Kalyan region, and Kharghar–Panvel region of Mumbai.
What are the key requirements for the flats being purchased by SBI?
The flats must have a MahaRERA carpet area of approximately 55.74 sq. m. (600 sq. ft.), be less than five years old, and be ready-to-move-in with all necessary regulatory approvals and Occupancy Certificates (OCs).
How will the successful bidders be selected?
The successful bidders will be selected based on a 60:40 techno-commercial scoring system, which assesses various factors, including technical (60%) and financial (40%) aspects.
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