How Did MMRDA Generate Rs 3,840.49 Crore from BKC?
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Synopsis
The MMRDA has achieved a remarkable milestone by generating Rs 3,840.49 crore from leasing three commercial plots in BKC. This initiative not only boosts revenue but also promises to create thousands of jobs. Learn more about the strategic investments and future plans that aim to transform Mumbai into a global business hub.
Key Takeaways
- MMRDA generated Rs 3,840.49 crore from leasing three plots.
- International firms Sumitomo and Brookfield awarded plots.
- Approximately 15,000 jobs expected from these leases.
- Investment agreements worth USD 5 billion and USD 12 billion signed.
- BKC aims to be a top business hub in India.
Mumbai, June 2 (NationPress) The Mumbai Metropolitan Region Development Authority (MMRDA) has successfully garnered Rs 3,840.49 crore from leasing three valuable commercial plots in Bandra-Kurla Complex (BKC), as announced by Chief Minister Devendra Fadnavis on Monday.
During a special ceremony, he presented the allotment letters to international investors. Two plots were awarded to the Japanese company Sumitomo Realty & Development Ltd, while the third plot was given to Brookfield Strategic Real Estate, a prominent global investment firm. The event was attended by Additional Chief Secretary to the Chief Minister Vikas Kharge, Principal Secretary Ashwini Bhide, Additional Chief Secretary Asimkumar Gupta, MMRDA Commissioner Sanjay Mukherjee, and members of the Japanese delegation, as stated in the government release.
Plots C-13 and C-19 were allocated to Goisu Realty Pvt Ltd, the Indian subsidiary of Sumitomo Realty & Development, which submitted the highest bids.
Plot C-80 was jointly awarded to Sklose Bangalore Pvt Ltd (the Indian branch of Brookfield Strategic Real Estate Partners III), Arliga Eco Space Business Park, and Sklose Chanakya Pvt Ltd, who collectively made the leading bid.
These leases are anticipated to generate significant revenue for MMRDA and are also expected to create around 15,000 high-tech jobs, as per the release.
At the 55th Annual Meeting of the World Economic Forum (WEF), MMRDA signed investment agreements totaling USD 5 billion with Sumitomo and USD 12 billion with Brookfield.
“These advances are integral to MMRDA’s Growth Hub Strategy and the G-Hub initiative of the NITI Aayog, designed to stimulate proactive investments. Maharashtra aims to establish a USD 300 billion economy and create three million jobs in the Mumbai Metropolitan Region by 2030. With state-of-the-art infrastructure, including underground and elevated metros and a bullet train network, BKC is set to become the leading business hub in the nation,” stated the Chief Minister.
Point of View
The recent leasing agreements by MMRDA underscore a significant step towards economic growth in India. By attracting international investments and creating high-tech job opportunities, these initiatives align with the nation’s vision of becoming a global economic powerhouse, emphasizing the need for systematic urban development.
NationPress
11/06/2025
Frequently Asked Questions
What is the total revenue generated from the plots?
The MMRDA has generated a total of Rs 3,840.49 crore from leasing three commercial plots in BKC.
Which companies were awarded the plots?
The plots were awarded to Sumitomo Realty & Development Ltd and Brookfield Strategic Real Estate.
How many jobs are expected to be created?
The leasing agreements are projected to create approximately 15,000 high-tech jobs.
What is the significance of these leases?
These leases will enhance MMRDA's revenue and contribute to the economic growth of the Mumbai Metropolitan Region.
What is the future vision for Mumbai's economy?
Maharashtra aims to achieve a USD 300 billion economy and create three million jobs by 2030.
