MMRDA dropped sell plan of empty land at bandra kurla Complex
The market scenario of the real estate industry enforced the Mumbai Metropolitan Region Development Authority (MMRDA), to rethink on the plan to sell the vacant plots at Bandra Kurla comples area.
MMRDA planned to auction the land previously, however the senior officials thinks due to the uncertainty of the real estate market they will not get the expected value for the land.
The MMRDA decided to hold the lands for the time being as they are not in a hurry for gathering funds.
MMRDA also proposed to increase the floor space index from 3 to 4 for future residential apartment in Bandra Kurla complex
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Source : The Hindu Business Line
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