BMC Issues 30-Year Lease Tender for Prime Worli Plot Near Sea Link — Targets ₹200 Crore Revenue for City Infrastructure

The Brihanmumbai Municipal Corporation (BMC) has reportedly issued a tender to lease a strategically located plot in Worli for a period of 30 years, with an option to extend for an additional three decades. The 1,299.52 sq m land parcel, situated in close proximity to the Bandra-Worli Sea Link, is anticipated to generate approximately ₹200 crore in revenue for the civic body, which plans to channel these funds toward city-wide infrastructure development.

Plot Background and Legal History

According to sources, the land was originally leased back in 1937 but subsequently became entangled in a prolonged legal dispute. After BMC regained control of the plot in 2024, the parcel was freed up for fresh development opportunities.

Under Mumbai's current Development Plan (DP 2034), the plot has been earmarked for recreational or community use. This zoning designation reportedly opens the door for proposals such as gymkhanas, clubs, or similar lifestyle amenities that cater to the luxury real estate market in Worli.

Strategic Implications of the Lease

The civic body's decision reflects a broader strategy to monetise under-utilised municipal land without resorting to outright sale, instead attracting long-term leases from private entities. Industry observers have noted that BMC has previously executed similar high-value deals involving other prime plots in the Mumbai region, generating significant revenue.

Past transactions, including deals involving the Worli Asphalt Plant site, have reportedly netted substantial returns for the municipal corporation. The current lease is expected to follow a similar trajectory, providing steady non-tax income that could support Mumbai's infrastructure upgrades and urban development initiatives.

Opportunity for Private Developers

For prospective bidders, the lease represents a rare opportunity to secure a high-value location in south Mumbai's premium property corridor under a long-term tenure arrangement. The location's proximity to major connectivity infrastructure makes it particularly attractive for high-end recreational or club-based developments.

Real estate analysts suggest that such prime land parcels near the Sea Link have witnessed considerable appreciation in recent years, with Worli emerging as one of Mumbai's most expensive residential destinations. The 60-year potential tenure offers developers significant planning horizons for ambitious recreational projects.

Market Context

The lease announcement comes at a time when Mumbai's real estate market has witnessed record-breaking activity. Several high-profile land transactions have taken place in the Worli micro-market, including Runwal Realty's acquisition of a 4-acre parcel for a luxury residential project and Sumitomo's purchase of 2 acres from Bombay Dyeing.

The BMC's land monetisation strategy aligns with similar initiatives by other civic authorities, including MMRDA's plans to lease BKC plots to raise funds for infrastructure development.

Disclaimer: This news article is intended for informational purposes only. Readers are advised to conduct independent verification before making any investment or business decisions. Property valuations, lease terms, and revenue projections mentioned are based on reported sources and may be subject to change. This content does not constitute financial, legal, or investment advice.