BMC auctions land parcels, fetches Rs 1248 crore
The Brihanmumbai Municipal Corporation (BMC) has auctioned two land parcels, fetching Rs 1,248 crore. As per updates, the land parcels that BMC sold are the Worli Asphalt Plant plot, which was auctioned for Rs 879 crore. The other one was a plot near Crawford Market on Paltan Road, which secured a bid of Rs 369 crore.
This is the first instance of the civic body directly auctioning its land, signalling a strategic move towards monetising real estate assets for long-term revenue generation.
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