On Friday, the BMC issued yet another tender to lease a plot in Worli for a term of 30 years, which can be extended for an additional 30 years, under a model of private participation. The plot measures a total of 1,299.52 square meters and is situated in a prime area near the Bandra Worli Sealink.
Just last year, officials from the G South ward reclaimed this plot from a party after the lease expired. There were intentions to utilize the area as a gymkhana for municipal officers. With the tender now released, the chosen bidder will be obligated to develop the plot in line with the approved Development Plan 2034 for the G/South ward.
Bidders are required to provide an Earnest Money Deposit (EMD) of Rs 92.10 lakh. The EMD will be forfeited if any conditions of the tender are breached during the validity period or if the bidder retracts their offer. This action by the BMC follows closely on the heels of the civic body leasing out two plots at CSMT and Worli a few months ago.
Historically, in 1937, the plot was granted to a private entity for maintenance purposes. It subsequently came under the management of a private builder. To regain possession of the property, the BMC engaged in a lengthy legal struggle that reached the Supreme Court, according to officials. The civic body ultimately reclaimed the bungalow — designated for a club — just last year after prevailing in the legal case.
The civic body anticipates generating nearly Rs 200 crore from the lease. Officials noted that the revenue obtained from leasing such properties will be allocated to complete ongoing civic projects. The successful bidder will be required to adhere to the land reservation as specified.
