HT - Three prime BMC plots in island city to be auctioned
With a large number of infra projects being launched in the city, the BMC has decided to auction three of its prime plots in the island city, including one in Malabar Hill, to generate resources. This is the first time that the BMC will lease out its plots, something that institutions like MMRDA and MSRDC have done so far, monetising their land banks to raise money for the infrastructure projects implemented by them.
According to the BMC’s tender document, its three plots will be leased for 30 years with a provision of renewal for another 30 years. One of the plots used to house Chhatrapati Shivaji Market near Crawford Market. It had a four-storey building that housed several BMC offices, with the ground floor used as a wholesale market by the fisher community. The building was demolished in 2015 after it was declared dilapidated. The fish sellers refused to vacate the premises and sell fish every morning on the ground floor.
