BMC to auction prime plot near Crawford Market, generating ₹2,100 crores for infrastructure projects | Representational Image
Mumbai: The BMC is set to invite tenders for the auction of another prime plot near Crawford Market, once home to the Chhatrapati Shivaji Market, following approval from the state government. As part of the auction process, the wholesale market that served the fishing community will be relocated. The civic body expects to generate Rs 2,100 crores in revenue from this initiative.
The plot previously housed a four-storey building that accommodated several civic offices, with the ground floor serving as a wholesale market for the fishing community. However, the structure was demolished in 2015 after being declared dilapidated. This plot is one of three key locations identified by the civic body for auction to raise revenue.
“The fishing community had met with Chief Minister Devendra Fadnavis to present their grievances, and the CM had instructed us not to auction the plot until further orders. However, the matter has now been resolved, and we have received a green signal from the state government to proceed with the auction of this plot,” said a senior civic official. He further added, “The plot will be leased for 30 years.”
Initially, plans were in place to auction off the 2,432-square-metre Malabar Hill plot, which also houses a Brihanmumbai Electricity Supply and Transport (BEST) receiving station. However, these plans were scrapped after receiving strong opposition from local residents.
Similarly, the proposal to auction the plot at the BMC’s asphalt plant in Worli has been retendered after the civic body failed to attract bidders previously. Civic officials estimate that the auction of this plot will generate Rs 2,069 crores in revenue.
Notable companies, including L&T, Godrej Properties, Welspun World, HN Safal, Runwal Developers, DB Realty, and representatives from architects, had shown interest in the pre-bid meeting held last year. They discussed acquiring these lands on a 30-year lease but did not respond with bids by the December 16 deadline.
This marks the first time the BMC has planned to lease out its plots for 30 years, with an option for renewal for an additional 30 years. The proceeds from these sales are expected to support various infrastructure initiatives undertaken by the civic body.
