Pursuant to an invitation for the tender of the lease of commercial plots by the Mumbai Metropolitan Region Development Authority (“MMRDA”). The company, as the lead member of a consortium, along with Schloss Chanakya Private Limited, our Subsidiary, and Arliga Ecospace Business Parks Private Limited, an affiliate of Brookfield, submitted a binding bid to lease a plot of land (i.e., Plot No. 80 at ‘G’ Block of Bandra-Kurla Complex, Mumbai) for a duration of 80 years.
We were the highest bidder for this lease, based on the evaluation of the financial bid conducted by MMRDA on April 4, 2025.
The Plot area is 8,411.88 sqm and the permissible built-up area is 33,647.52 sqm. This is subject to demarcation and may vary as per site condition.
The total lease premium payable is INR 1302,15,90,240/- (Indian Rupees One Thousand Three Hundred Two Crores Fifteen Lakhs Ninety Thousand Two Hundred Forty only) wherein 25% of the total lease premium is payable within 2 months of the offer of allotment and the remaining 75% within ten months thereafter.
The possession of the aforesaid Plot shall be handed over after the payment of the total lease premium.
The Company intends to develop mixed-use project, including a 250 key luxury hotel on this Plot.
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_*For more information, please refer pg.no. of RHP: 472*_
Regards, Ritesh Nandgaonkar , Adfactors PR, +91 9769245884