MMRDA leases ₹354-crore BKC plot to Jupiter Hospital

The allotment is part of MMRDA’s broader plan to monetise land parcels in BKC and Wadala, with a target of raising over ₹11,177 crore in the coming financial year to fund infrastructure projects in the Mumbai Metropolitan Region

Mumbai: A 400-bed multi-specialty hospital will soon come up in Bandra Kurla Complex after Jupiter Life Line Hospitals secured a 2.47-acre plot from Mumbai Metropolitan Region Development Authority for ₹354 crore.

MMRDA leases ₹354-crore BKC plot to Jupiter Hospital

The land, located at plot number SF5 in GTxT Block and measuring around 10,026 sq m, has been allotted on an 80-year lease. The authority announced the allotment on Wednesday. The hospital group has paid ₹88.5 crore on Friday which is 25% of the bid amount, while the remaining amount is to be paid within a year.

The facility is expected to come up within 24-30 months after obtaining regulatory clearances. The company plans to invest around ₹600 crore in the project, with an estimated capital expenditure of up to ₹1.5 crore per bed.

Jupiter Life Line Hospitals emerged as the successful bidder for the plot, which had also attracted interest from Fortis Healthcare.

“Bandra Kurla Complex is amongst the most important locations in the country. The proposed Jupiter Hospital here will be a fitting addition to the healthcare landscape of Mumbai and India,” said Ankit Thakker, joint managing director and CEO, Jupiter Life Line Hospitals.

The allotment is part of MMRDA’s broader plan to monetise land parcels in BKC and Wadala, with a target of raising over ₹11,177 crore in the coming financial year to fund infrastructure projects in the Mumbai Metropolitan Region.

Separately, the authority recently allotted land to institutions such as the National Payments Corporation of India and the National Stock Exchange of India, while the Bombay Stock Exchange has also sought additional space to expand operations in the area.