{"id":58350,"date":"2025-06-26T09:17:47","date_gmt":"2025-06-26T03:47:47","guid":{"rendered":"https:\/\/urbanacres.in\/?p=58350"},"modified":"2025-06-26T09:17:47","modified_gmt":"2025-06-26T03:47:47","slug":"bmc-auctions-crawford-market-plot-for-13-percent-below-reserve","status":"publish","type":"post","link":"https:\/\/livzzy.in\/?p=58350","title":{"rendered":"BMC auctions Crawford Market plot for 13 percent below reserve"},"content":{"rendered":"

Mumbai\u2019s civic authority has issued a letter of acceptance to AAV Developers LLP for a prime plot in Crawford Market, accepting a \u20b9369\u202fcrore bid about 13\u202fpercent lower than the advertised \u20b9428\u202fcrore reserve price for a 30\u2011year lease of the 8,116\u202fsqm property near Chhatrapati Shivaji Maharaj Market. \u00a0The plot, leased with provisions for renewal, must allocate space for staircases, lifts, and escalators to support a proposed foot\u2011over bridge being planned by the Rail Land Development Authority.<\/strong><\/h3>\n

Under the lease terms, AAV and RLDA will pay pro rata amounts for their respective structural and access\u2011related space; RLDA must fund its own FOB landing area despite earlier official guidance exempting it from land charges. The BMC maintained exempting land use would conflict with municipal regulations. This transaction follows BMC\u2019s October 2024 decision to auction three Island City land parcels, including the Crawford Market site, aiming to generate funds to address its ongoing infrastructure liabilities, which now exceed \u20b92\u202flakh\u202fcrore. Among them is the historic fish market and municipal offices designated for disaster management, whose future roles have become contentious.<\/h4>\n

Critics note that some reserved uses for public facilities may have been overlooked. One legal expert highlighted that such land allocations require due process and public hearings, and cannot be abolished unilaterally. Activists added the plot should continue to support fishermen\u2019s livelihoods and provide public parking nearby, asserting the auction process may have been influenced by official pressure. In its defence, the BMC cited limited interest\u2014with just two bids received, including \u20b9330\u202fcrore bid from Saroj Landmark Realty\u2014alongside external constraints such as reserved spaces and the need to relocate the fish market, factors which may have dampened commercial interest. Until now, those conditions have hindered open market utilisation of the land.<\/h4>\n

An official noted that while BMC could have sought fresh bids or cancelled the auction, they proceeded to award the plot based on the highest bid available, given the low turnout and structural reservations still to be addressed by state authorities. As the deal moves forward, BMC and RLDA must formalise agreements and navigate ongoing land\u2011use reservations. The fate of the fish market, municipal disaster\u2011management facilities, and public access continues to attract scrutiny from legal and civic quarters.<\/h4>\n

The transaction illustrates the tension between revenue\u2011driven land lease decisions and the imperative to protect public services and community infrastructure. With Dravid Market poised for transit\u2011oriented development, local advocates emphasise that its cultural and livelihood functions must be preserved alongside commercial redevelopment.<\/h4>\n

Also Read: Mumbai Metro coach fills with smoke near Devipada after fire<\/a><\/strong><\/p>\n

BMC auctions Crawford Market plot for 13 percent below reserve<\/h5>\n","protected":false},"excerpt":{"rendered":"

Mumbai\u2019s civic authority has issued a letter of acceptance to AAV Developers LLP for a prime plot in Crawford Market, accepting a \u20b9369\u202fcrore bid about<\/p>\n","protected":false},"author":1,"featured_media":58352,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[146,152,147,148],"tags":[487,76928,76929,76930,956,495,15113,76931],"class_list":["post-58350","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-mmr","category-news","category-urban-news","tag-bmc-auction","tag-bmc-land-sale","tag-crawford-market-plot-auction","tag-crawford-market-redevelopment","tag-mumbai-civic-body","tag-mumbai-real-estate","tag-public-land-use","tag-south-mumbai-plot-lease"],"_links":{"self":[{"href":"https:\/\/livzzy.in\/index.php?rest_route=\/wp\/v2\/posts\/58350","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/livzzy.in\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/livzzy.in\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/livzzy.in\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/livzzy.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=58350"}],"version-history":[{"count":0,"href":"https:\/\/livzzy.in\/index.php?rest_route=\/wp\/v2\/posts\/58350\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/livzzy.in\/index.php?rest_route=\/"}],"wp:attachment":[{"href":"https:\/\/livzzy.in\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=58350"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/livzzy.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=58350"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/livzzy.in\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=58350"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}