The Brihanmumbai Municipal Corporation (BMC) has reinvited bids to lease out two plots—Chhatrapati Shivaji Market in Fort, the Worli Asphalt Plant plot—in a bid to generate revenue. The civic body aims to earn Rs 1183 crore from the 30-year lease of these plots. This time, the BMC has reduced the base price by nearly 70 per cent compared to the previous bid, which failed to attract bidders. 

In December 2024, the BMC had invited bids for three plots—Chhatrapati Shivaji Market in Fort, the Worli Asphalt Plant plot, and the BEST substation plot in Malabar Hill. However, no bidders came forward. “Earlier, we calculated the base price based on the maximum usable Floor Space Index (FSI). Bidders objected since full FSI utilisation depends on various factors,” a BMC official explained. “This time, we have based the bid price on the approved zonal FSI as per the Development Plan,” the official added.