Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ News / India/  Japanese firm ready to pay over 2,200 crore for 3-acre plot in Mumbai's BKC
BackBack

Japanese firm ready to pay over ₹2,200 crore for 3-acre plot in Mumbai's BKC

The bid for the plot in Mumbai's prime BKC works out to around ₹745 crore per acre
  • The bid is billed among the biggest in India in recent times
  • If Sumitomo Corporation wins the bid, it may be entitled to a floor space index (FSI) of 4 permissible on the BKC plot in Mumbai.Premium
    If Sumitomo Corporation wins the bid, it may be entitled to a floor space index (FSI) of 4 permissible on the BKC plot in Mumbai.

    MUMBAI :

    Japanese multinational corporation (MNC) Sumitomo Corporation has bid a staggering 2,238 crore for a three-acre plot in the prime Bandra-Kurla Complex (BKC) in central Mumbai, an official said here on Tuesday.

    "We have received the bid from the company for the plot here. However, the bid will be scrutinised and evaluated and will undergo our processes for other formal approvals before it is finalised. We cannot fix a timeframe for this," Dilip Kawathkar, Executive Director, Mumbai Metropolitan Region Development Authority (MMRDA), told IANS.

    The bid, which works out to around 745 crore per acre, is billed among the biggest in the country in recent times, though the MMRDA officials declined to elaborate.

    Officials said if Sumitomo Corporation wins the bid, it may be entitled to a floor space index (FSI) of 4 permissible on the BKC plot, or a built-up area of approximately a million square feet.

    Established in 1919, the Tokyo headquartered Sumitomo Corporation is spread across Japan, Asia, Europe, America, Africa, East Asia and other countries globally, dealing in infrastructure, realty, media, metal products, transportation and construction systems, minerals, energy and chemicals.

    Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

    This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

    Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
    More Less
    Published: 26 Jun 2019, 09:28 AM IST
    Next Story footLogo
    Recommended For You
    Switch to the Mint app for fast and personalized news - Get App