The Brihanmumbai Municipal Corporation (BMC) has issued a fresh tender to auction a prime 5,166 sq m land parcel in Worli at a base price of Rs 455 crore, weeks after an inquiry was initiated into a separate Rs 600-crore redevelopment proposal linked to the same site.
The plot, earmarked for “commercial exploitation,” allows the successful bidder to develop either residential or commercial towers. Earlier, the civic body had planned a comprehensive redevelopment that included a new municipal testing laboratory, commercial units, and a multi-storey robotic parking facility. However, that proposal was scrapped three times following allegations of cost inflation and procedural irregularities.
Under the revised approach, the winning developer must not only pay the premium but also construct and hand over 1,300 sq m of office space to the BMC for its testing laboratory. Temporary arrangements for the lab will also need to be provided until the new facility is completed.
As per tender conditions, the land will be leased at a nominal rent, with provisions for a 30-year extension. The document further notes that the existing reservation on the plot will be removed and that permissible development will follow Development Control and Promotion Regulations (DCPR) 2034 norms. Transfer of lease rights will require approval from the municipal commissioner.
Samajwadi Party MLA Rais Shaikh criticised the eligibility criteria, stating that only developers who have redeveloped at least three BMC properties in the past decade can participate, making the process “restrictive”. “BMC cancelled the tender three times. Now, it is suddenly auctioning the plot only to favour some particular builders.”
He also questioned the timing of the decision, alleging that former BMC chief Bhushan Gagrani cleared the proposal just before retirement. “Approving a project to auction such a prime BMC property just days before retiring is completely unethical and improper. If the plot was to be auctioned, then why did BMC float the tender thrice to build a parking lot there? This is a clear policy flip-flop only to gift the plot to favoured builders. This auction must be stayed immediately until the state govt inquiry is completed,” Shaikh said.
Urban development minister Madhuri Misal had earlier confirmed that the probe would be conducted by the additional chief secretary. Defending the move, Gagrani said the auction aligns with the BMC’s broader strategy to monetise land assets and denied any irregularities, adding that the plan had been under consideration for a long time.
Source: ET Realty
