MSRDC Will Be Raising Rs 700 Crore From A 67,000 Sq Ft Plot They Own In Nepean Sea Street, Mumbai
The Maharashtra State Road Development Corporation (MSRDC) is looking forward to raise and increase Rs.700 crore from a 67,000 sqft plot owning by them on Nepean Sea Street. The MSRDC Chief, Radheshyam Mopalwar has written before to the government authorities for getting the land parcel notified for residential or commercial use.
The MSRDC is showing a portion of its boundary as a part of the park in the 2034 Development Plan at the Priyadarshini Park. The big and large portion hasn’t been notified at all with any respect.
As per the present rate and charge the land is worth of Rs.700 crore and the agency has already issue an advertisement for it with an inviting quotation for the lease for the upcoming period of minimum 60 years. They have hope to start the bidding process by next year said by senior official of MSRDC.
The MSRDC is trying to catch up the area in the MSRDC plot of the Priyadarshini Park and the portion the its boundary is just shown as the part of the plot in South Mumbai which come to light where Mumbai Mirror reported that Income Tax Department is going to construct a 14-storey building on the plot at Nariman Point. As MSRDC has non of their office located in Mumbai, they just operate out from a site office at Bandra-Worli Sea Link at the Reclamation.
Different Central and State Government authorities and departments that have properties in South Mumbai are looking to sell the units to others. One of the famous Air India building on Marine Drive is in the process of being sold in deal with the state government and the Life Insurance Corporation of India are being the bidders one of them.
MSRDC records says that the agency is very rarely leasing out property in Mumbai. With the most popular project one of them the Mumbai-Nagpur Communication Expressway things are changing which are resulting as agency is just looking out to raise money.
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