Adani Realty & L&T Realty Lead Bidders for Bandra Reclamation Plot
Adani Realty and L&T Realty emerge as the frontrunners in the bidding competition for a coveted land parcel at Bandra Reclamation in Mumbai, offered by the Maharashtra State Road Development Corporation (MSRDC). Notably, prominent developers in Mumbai have refrained from participating in the bidding process, citing reasons such as strategic focus and stringent eligibility criteria. The 24-acre land parcel, valued at over Rs 30,000 crore, holds significant development potential. Despite the absence of bids from top-tier developers, the market anticipates the opening of bids in the coming days, with JLL overseeing the tender process. The eligibility criteria outlined by MSRDC, particularly the requirement for a minimum consolidated net worth of Rs 15,000 crore, has posed a challenge for many developers, prompting concerns about eligibility and participation.