The Mumbai Metropolitan Region Development Authority (MMRDA) has once again extended the deadline for submission of bids for the auction of nine prime commercial and residential plots in the Bandra-Kurla Complex (BKC), giving prospective bidders nearly a month more to participate in the high-value land monetisation exercise.
New Dates: August 21 & 24
According to the MMRDA, the last date for downloading tender documents and submitting online bids has been revised from July 24 to August 21, 2026, while the bid opening has been rescheduled from July 27 to August 24, 2026.
The tender involves the 80-year lease of nine plots in the G-Block of BKC, comprising five commercial and four residential parcels. The land parcels have a combined reserve price of approximately Rs 9,285 crore, making it one of MMRDA's largest land monetisation initiatives in recent years.
Commercial Plots Worth ₹6,620 Crore
The five commercial plots—C73 to C77—carry a combined reserve value of around Rs 6,620.63 crore, while the four residential plots—R-1.5, R-1.6, R-1.7 and R-5—have a combined reserve price of nearly Rs 2,664.25 crore.
Among the commercial parcels, Plot C75, spread over 7,415 sq m with a permissible built-up area of 29,660 sq m, has the highest reserve price of Rs 1,432.55 crore. On the residential side, Plot R-1.7 has the highest reserve value at Rs 827.35 crore.
Reserve Rates Fixed at ₹4.82 Lakh/sq m
The reserve rate has been fixed at Rs 4.82 lakh per sq m of permissible built-up area for commercial plots and Rs 3.52 lakh per sq m for residential plots.
MMRDA has maintained that the land monetisation exercise forms part of its broader strategy to generate financial resources for major infrastructure projects across the Mumbai Metropolitan Region, including metro corridors, road projects and regional connectivity initiatives, while reducing dependence on borrowings.
This is the latest extension granted by the authority after it had earlier revised the bidding schedule similarly. The repeated extensions are expected to provide developers and institutional investors additional time to evaluate the premium land parcels and prepare their bids amid one of Mumbai's biggest public land auctions.
MMRDA has announced a budget of Rs 48,072 crore for 2026–27, with around 87% of the allocation earmarked for infrastructure projects. The Authority has also projected Rs 11,177 crore in revenue from land monetisation, including land parcels in Bandra-Kurla Complex (BKC), Wadala Notified Area, Oshiwara Business Centre, Thane development areas and the Karnala–Chirner region, where MMRDA is the special planning authority and can lease land to generate revenue for this financial year.
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