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Mumbai: Plot worth Rs 600 cr up for grabs in Napean Sea Road
MSRDC-owned land measuring 1.54 acre is situated at Napean Sea Road
Updated : Aug 24, 2019, 06:00 AM IST
 "Priyadarshani Park at Nepean Sea Road")
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A prime property worth Rs 600 crore and above is up for grabs in Napean Sea Road. The land measuring 1.54 acre, which translates into 6,000 sq mts approx, belongs to Maharashtra State Road Development Corporation Limited (MSRDC). The land, according to realty sources, is located next to Priyadarshini Park.
According to Vijay Waghmare, joint managing director of MSRDC, a request for quotation for the lease of the land for a period of 60 years has been invited. "We have floated the tender inviting expression of interest. We will start the bidding process after gauging the interest of people," said Waghmare.
The last date for submission of the forms that can be downloaded from mahatenders.gov.in is October 7. MSRDC is currently gauging the interest that this prime land will generate amongst the bidders, and post that they will float tenders for the bidding process.
MSRDC normally leases out its land on Pune-Mumbai Expressway for commercial purposes. However, going by the records, the corporation rarely leases out land in Mumbai.
Potential |
|---|
| A request for quotation for the lease of the land for a period of 60 years has been invited |
| The last date for submission of the forms is October 7 |
| MSRDC is currently gauging the interest that this land will generate amongst the bidders, after which they will float tenders for bidding |
| Its development potential will be decided based on Development Control Rules |
"The land would generate nowhere less than Rs 600 crore. This calculation is based on the ongoing realty prices and the market situation which is a little subdued. However, if you calculate the FSI attached to it and other factors, the price will go higher," said a realty source from Malabar Hill.
Last week, MMRDA had put up two amalgamated plots C-44 and C-48, admeasuring around one-and-half acre, in Bandra Kurla Complex for long lease. The plot has a permissible built-up area of 30,000 sq mts, and they are expecting a minimum of Rs 1,033 crore from it.
The plot's development potential — whether it will be used for commercial or residential purpose — will be decided on the basis of Development Control Rules, said an MSRDC official.
