MMRDA finally gets a buyer for its BKC plot; may fetch ₹2,300cr
Even after extending the deadline to submit bids for three plots in Bandra-Kurla Complex (BKC), the Mumbai Metropolitan Region Development Authority (MMRDA) has received only one bid for one of the plots near the stadium. While officials didn’t reveal the name of the bidder as the process is on, the MMRDA hopes to earn a base price of ₹2,300 crore from the sale of the 12,500-sqm plot, C-65, in G block.
BKC is one of the topmost business districts in the state governed by the authority. The MMRDA wants to lease plots to fund its infrastructure projects in and around the city. For instance, the amount MMRDA can get from this plot ( ₹2,300 crore) can almost fund a third of the upcoming Metro-6 (Swami Samarth Nagar-Vikhroli), which is estimated to cost ₹6,716 crore. For the other two plots, MMRDA is considering extending the deadline again to get responses.
A senior official from the metropolitan authority said, “With projects such as the bullet train and Metros coming up in the area, we hope to get more responses [for the plots].”
The MMRDA is currently executing metro projects worth ₹1 lakh crore in the metropolitan area. It has been looking at various means to generate funds for the project. The MMRDA has achieved financial closure for four of the six under-construction Metro lines through loans from the Japan International Cooperation Agency (JICA) and Asian Development Bank (ADB), and Central assistance. In all, the MMRDA is looking to construct 11 Metro lines in the city by 2024. Recently, MMRDA commissioner RA Rajeev wrote to the Brihanmumbai Municipal Corporation (BMC) to share 25% of the total cost of the Metro project.
The MMRDA is undertaking redevelopment around the upcoming Metro stations to cross-subsidise the cost. Apart from this, the state also introduced an additional one per cent stamp duty surcharge on property deals, with the revenue to be transferred to MMRDA for its infrastructure projects.
AV Shenoy, a transport expert from Mumbai Vikas Samiti, called it haphazard planning of the state government. “If the World Bank was funding the project, the authority would have had to submit the whole finance model before getting the project started. Right now, so many projects have been announced without any finance model in place,” he said.
In yet another suspected hooch tragedy in Bihar, at least six people have died and 12 taken ill after allegedly consuming spurious liquor in Gaya and Aurangabad districts over the last two days, police said on Tuesday. Those taken ill, including two who have lost vision, have been admitted to Magadh Medical College and Hospital in Gaya. Gaya's senior superintendent of police, Harpreet Kaur, could not be contacted.
Bihar Legislative Assembly Speaker Vijay Kumar Sinha, who was at the receiving end of chief minister Nitish Kumar's angry outburst in the House during the budget session earlier this year, has once again attacked the state government over the law and order situation. Sinha, who was in his assembly constituency Lakhisarai on Tuesday, accused the government of protecting corrupt officials and removing good ones. No arrest has been made in the case so far.
The much-awaited all-party meet in Bihar on the contentious issue of a statewide caste census issue will be held on June 1, state's parliamentary affairs minister Vijay Kumar Chaudhary said on Tuesday. Earlier this year, a delegation of leaders from Bihar, led by chief minister Nitish Kumar, had met Prime Minister Narendra Modi and sought his intervention for conducting the caste census.
The JD (U), which had authorised chief minister Nitish Kumar to name the candidate for the lone seat falling in its bag, is still to take a decision on the candidature on union minister for steel Singh, whose term ends on July 5. The last date for filing nominations for the Rajya Sabha elections is May 31. Singh is considered very close to Kumar, but is facing strong opposition from senior party leaders.
The Allahabad high court has directed the lower courts across the state to make an endeavour to complete the examination of the private witnesses on the same day, as far as possible, to ensure a “fair and proper trial”. The bench of Justice Sunita Agarwal and Justice Vikas Kunvar Srivastav further directed the trial court judges in the state to take up the examination of the private witnesses first, before proceeding with the official witnesses.