Chief Minister Fadnavis Hands Over BKC Plots Worth ₹3,840 Crore to Foreign Firms

Maharashtra Chief Minister Devendra Fadnavis has formally allocated three land parcels in the Bandra-Kurla Complex (BKC) to global investors. The allotment is expected to bring in ₹3,840.49 crore in revenue to the Mumbai Metropolitan Region Development Authority (MMRDA).

The allocation letters were handed over during a ceremony in Mumbai on June 3, 2025. The recipients included Kojun Nishima, President of Sumitomo Realty & Development, and Yagi Koji, the Consul-General of Japan. Brookfield Strategic Real Estate, another major investor, was also allotted one of the plots.

According to the state government, the sale of these three land parcels—identified as plots C-13, C-19, and C-80—marks a significant milestone in Maharashtra’s ongoing efforts to attract international capital to its infrastructure and real estate sectors. Sumitomo Realty & Development’s Indian subsidiary secured the bids for plots C-13 and C-19, while Brookfield’s Indian entity acquired plot C-80.

Chief Minister Fadnavis stated that this development would help generate approximately 15,000 high-technology jobs. He added that these projects are part of a broader plan to make the Bandra-Kurla Complex a central business hub in India. “These projects will soon make BKC the top commercial hub in the country,” he said at the event.

Fadnavis also highlighted earlier agreements with the same companies during the 55th annual meeting of the World Economic Forum. According to him, Sumitomo and Brookfield had signed investment commitments worth $5 billion and $12 billion, respectively. These earlier announcements are now translating into physical land acquisitions and planned development.

The revenue from this land allocation will be used by MMRDA to support urban development and infrastructure initiatives in the Mumbai Metropolitan Region. The authority is currently involved in various projects, including metro rail lines, road networks, and logistics hubs, all aimed at supporting the city’s expansion and improving connectivity.

The event was attended by senior officials from MMRDA and a delegation from Japan, reflecting the ongoing collaboration between Maharashtra and Japanese businesses. Japan has consistently shown interest in India’s urban infrastructure and smart city programs. This recent transaction strengthens the bilateral economic engagement and adds to the growing list of Japanese investments in Maharashtra.

The Bandra-Kurla Complex has emerged as a preferred location for commercial real estate in recent years. With limited availability of land and increasing demand for office space from domestic and multinational corporations, BKC has seen high land valuation and significant development activity. The latest land deals reinforce this trend.

The new landowners are expected to begin development activities in line with MMRDA’s zoning and planning regulations. While specific project timelines and construction plans have not yet been disclosed, the state government expects significant progress over the next few years, including job creation, commercial leasing, and allied services.

These developments are part of a larger state target to reach a $300 billion economy by 2030. Fadnavis reiterated this goal during the event and stated that infrastructure development, job creation, and international investment are key pillars of this plan. The government aims to create 3 million jobs within the same timeframe.

The state’s approach includes making strategic land available in high-demand areas like BKC, simplifying regulatory processes, and actively engaging with global investors to secure long-term commitments. The move to allocate plots to Sumitomo and Brookfield is seen as a continuation of this strategy.