MMRDA Receives Robust Response for BKC Plots Auction; Sumitomo and Schloss Consortium Submit Winning Bids Worth Over ₹3,839 Crore

The Mumbai Metropolitan Region Development Authority (MMRDA) has successfully concluded the auction of three prime commercial land parcels in Bandra-Kurla Complex (BKC), Mumbai, fetching a total of over ₹3,839 crore. The plots were awarded to Japan’s Sumitomo Corporation and a consortium led by Schloss Bangalore Ltd, following a highly competitive bidding process that highlighted strong investor confidence in Mumbai’s premium commercial real estate market.

The auction, which took place on April 4, 2025, involved three plots—C-13, C-19, and C-80—located in the G Block of BKC, one of India’s most sought-after business districts. These plots span a combined area of approximately 21,578 square meters, offering a total built-up potential of over 86,000 square meters. The land parcels are being leased for a period of 80 years, making them a long-term investment opportunity in a prime urban location.

According to MMRDA Commissioner Dr. Sanjay Mukherjee, the bids submitted exceeded expectations by significant margins, especially in the case of the two larger plots. Goisu Realty Pvt. Ltd., the Indian arm of Japan’s Sumitomo Corporation, emerged as the top bidder for plots C-13 and C-19. The company offered ₹4,80,945 and ₹4,82,992 per square meter of built-up area (BUA) for the two plots, respectively. These offers represent a premium of 39.61% and 40.20% over the reserve price, signaling a robust appetite for high-value commercial real estate in the region.

The second-highest bidder for both C-13 and C-19 was Bandra Kurla Office Asset Pvt. Ltd., a wholly owned subsidiary of Singapore-based Mapletree Investments Pte Ltd. Their bid stood at ₹3,45,000 per square meter, only slightly above the reserve rate, underscoring the aggressive pricing strategy employed by Sumitomo to secure the plots.

Meanwhile, for Plot C-80, the highest bid came from a consortium led by Schloss Bangalore Ltd., in partnership with Arliga Ecospace and Schloss Chanakya Pvt. Ltd. The consortium quoted ₹3,87,000 per square meter, representing a 12.34% premium over the reserve price. Though relatively smaller compared to the premiums on the other two plots, the bid still underscores strong demand for BKC’s limited commercial real estate.

Dr. Mukherjee emphasized that the auction outcome reflects growing market optimism and a resurgence in commercial real estate investments in Mumbai, especially in established hubs like BKC. “The strong bidding response, with premiums reaching up to 40%, indicates continued investor confidence in Mumbai’s real estate market and the exceptional value that Bandra-Kurla Complex offers,” he said.

BKC has firmly established itself as Mumbai’s financial and commercial nucleus. The G Block, where the auctioned plots are located, is home to the headquarters and offices of global corporations such as Jio, Apple, Amazon, Google, Netflix, and Facebook, as well as financial institutions like the Reserve Bank of India, National Stock Exchange, and Standard Chartered Bank. It also hosts government departments, the US Consulate, and luxury hotels such as Trident and Sofitel.

The recent auction not only reinforces BKC’s position as a top-tier commercial district but also strengthens MMRDA’s financial position, providing a boost to its ongoing infrastructure and development initiatives across the Mumbai Metropolitan Region.