In a major letdown for the Mumbai Metropolitan Region Development Authority (MMRDA), three plots at the Bandra-Kurla Complex (BKC) have failed to attract any bidder and thus, the development authority has now extended the tender date from May 14 to June 30, 2019
As per the tender document, the first plot has an area of 12,486 square metre (sq.m) and a permissible built-up area or floor area ratio of 65,000 sq.m; the second has an area of 3,000 sq.m with maximum floor space index (FSI) of 12,000 sq.m; and third plot with an area of 2,961 sq.m and total built-up area will be 12,000 sq.m
The FSI is the ratio of the plot size on which the construction happens and the total permissible coverage area.
Last year, when the 12,486 sq.m plot was put on a lease, the permissible built-up areas was set at 50,000 sq m due to restrictions by the Airports Authority of India. However, despite the permissible built-up area being increased to 65,000 sq.m, no builder showed interest in the plot.
MMRDA was planning to generate a revenue of around ₹3000 crore from these three lands which were supposed to be used in big infrastructure projects, like Metro corridors
In a major letdown for the Mumbai Metropolitan Region Development Authority (MMRDA), three plots at the Bandra-Kurla Complex (BKC) have failed to attract any bidder and thus, the development authority has now extended the tender date from May 14 to June 30, 2019
As per the tender document, the first plot has an area of 12,486 square metre (sq.m) and a permissible built-up area or floor area ratio of 65,000 sq.m; the second has an area of 3,000 sq.m with maximum floor space index (FSI) of 12,000 sq.m; and third plot with an area of 2,961 sq.m and total built-up area will be 12,000 sq.m
The FSI is the ratio of the plot size on which the construction happens and the total permissible coverage area.
Last year, when the 12,486 sq.m plot was put on a lease, the permissible built-up areas was set at 50,000 sq m due to restrictions by the Airports Authority of India. However, despite the permissible built-up area being increased to 65,000 sq.m, no builder showed interest in the plot.
MMRDA was planning to generate a revenue of around ₹3000 crore from these three lands which were supposed to be used in big infrastructure projects, like Metro corridors