Mumbai: Four Bidder Contest for BMC’s ₹1,348 Crore Plot
Representative AI image MUMBAI: After the Supreme Court’s clearance over a year ago, the BMC is nearing the appointment of a developer for a prime six-acre plot in Lower Parel. Initially receiving a lukewarm response, four major bidders—Shapoorji Pallonji, K Raheja Corp, Peddar Realty (JSW Group), and Keystone Realtors (Rustomjee)—have now submitted their offers. “The plot will be leased on an ‘as-is’ basis, with the developer tasked with rehabilitating current occupants as part of the development,” stated an official. Once the proposal secures administrative approval, it will be forwarded to the civic improvements committee, which oversees civic property matters. The…