The Brihanmumbai Municipal Corporation (BMC) has extended the deadline for the submission of tenders for the auction of three prime plots in South Mumbai. The new deadline for tender submissions has been shifted from December 4 to December 16, giving interested parties more time to submit their bids.
The pre-bid meeting, held on November 12, addressed several concerns from bidders regarding the specifics of the auction. Notable developers such as L&T, HN Safal, Runwal Developers, Godrej Properties, Welspun World, and DB Realty have expressed interest in the auction, which includes three high-value plots located in Malabar Hill, Worli, and Fort. One of the key topics discussed in the meeting was the area to be constructed and the process of relocating the BEST (Brihanmumbai Electric Supply and Transport) services that currently occupy the sites. The BMC assured bidders that the necessary requirements for relocation will be provided shortly, as the civic body has already requested BEST to hand over the possession of the plots. Furthermore, questions regarding the Coastal Regulation Zone (CRZ) reservation for the plots were addressed, with the BMC confirming that the plots are not located within CRZ buffer zones, making them more attractive for development.
The BMC has set certain eligibility criteria for prospective bidders, including a minimum gross annual turnover of Rs 300 crore and a net worth of at least Rs 150 crore over the last three financial years. This auction marks the first time the BMC has decided to auction its own plots, signaling a shift in the civic body’s approach to monetizing public assets. The plots will be leased for a period of 30 years, with an option for renewal for an additional 30 years. The plots up for auction include a site behind the Mahatma Jyotiba Phule Mandai (Crawford Market) in Fort, a BEST receiving station at Malabar Hill, and a plot at an asphalt plant in Worli. As of now, BMC officials are in the process of calculating the reserve price for each of these properties, which will play a crucial role in determining the starting bids for the auction. The auction process is expected to attract significant interest, given the strategic locations and potential for high-end development in one of the city’s most sought-after real estate markets.
