MSRDC Plots Worth Rs 15,000 Crore Up For Grabs

19 new townships coming up in Maharashtra.
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MSRDC to put several plots in Mumbai, some near Mumbai-Pune Expressway on auction. This is expected to generate a revenue of Rs 15,000 crore for the state’s Road Development corporation.

By Varun Singh

Prime plots belonging to Maharashtra State Road Development Corporation (MSRDC) in Mumbai will soon be up for grabs.

There are other plots belonging to MSRDC located on Mumbai-Pune Expressway that will also be auctioned by the corporation.

Of the three prime MSRDC plots in Mumbai one is located at Napean Sea Road and two are at Bandra.

Confirming the same Radheshyam Mopalwar Vice Chairman & Managing Director, MSRDC said, “We expect Rs 15,000 crore from the auctioning of these plots.”

An international property consultancy firm has been appointed to assist MSRDC in the auction of these plots.

The Request For Quotation of Napean Sea Road plot was floated last year in August. However, with the real estate market not being in best of its shape, the process was pushed ahead,

Vijay Waghmare, Joint Managing Director, MSRDC said all the plots will given out on a long lease. This long lease period could be between 30 to 60 years.

In Bandra one of the plots currently has a casting yard, which is soon expected to be vacant and other plot is nearby to it.

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The dates when the tenders for auctioning of these plots shall be decided after a board meeting of the corporation.

“We expect Rs 15,000 crore from the auctioning of these plots.”

Radheshyam Mopalwar Vice Chairman & Managing Director, MSRDC

According to a realtor, Mumbai for long hasn’t seen any land parcel or a huge plot being auctioned.

The plots would have come in the market a bit early but because of the pandemic and the downturn in the sector delayed the process.

“MSRDC is expecting Rs 15,000 crore, but the amount they will finally generate shall depend on the market situation too. While the condition isn’t very good now, but when it comes to open plots, one can never say,” said the realtor.

Meanwhile, on the Maharashtra Samruddhi Mahamarg (Mumbai-Nagpur Expressway) a total of 19 townships will be built.

According to Mopalwar these townships will have close to 1 lakh population each, and land for six townships shall be acquired as soon a summer of 2021. Post which a development plan for these townships will be prepared too.

The expressway connecting Mumbai and Nagpur is 701 kilometer long and the total project cost is Rs 55,335 crore.

Also Read: Indiabulls takes possession of Villas, flats connected to Wadhawans in Mumbai

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