MUMBAI: On Friday, BMC released a tender for leasing a plot in Worli for a 30-year term, extendable by an additional 30 years, under a model ensuring private participation. The plot covers 1,299.52 sq m and is strategically located near the Bandra Worli Sealink.
Last year, G South ward officials reclaimed this plot after the previous lease expired, with intentions of converting it into a municipal gymkhana for officers.
As part of the newly announced tender, the successful bidder will need to develop the plot in accordance with the sanctioned Development Plan 2034 for the G/South ward. An Earnest Money Deposit (EMD) of Rs 92.10 lakh must be submitted by bidders.
The EMD will be forfeited if any tender conditions are breached during the validity period, or if the bidder withdraws their offer. This tender follows the BMC’s recent leasing of two plots in CSMT and Worli.
Historically, the plot was leased to a private entity for maintenance in 1937 and later came under private builder ownership. The BMC engaged in a lengthy legal battle, ultimately reclaiming the property last year as a result of a Supreme Court decision.
The civic body anticipates earning nearly Rs 200 crore from this lease, with the proceeds earmarked for ongoing civic projects. The selected bidder will need to comply with the land reservations stipulated.
