India, April 4 -- Japan's Sumitomo and a consortium led by Brookfield have emerged as the highest bidders for three prime land parcels auctioned by the Mumbai Metropolitan Region Development Authority (MMRDA) in the country's most expensive commercial district, Bandra Kurla Complex. The land deals are expected to generate over Rs.3,839 crore for MMRDA, a senior official from the authority told HT.com.

The MMRDA had kept a reserve price of over Rs.2,973 crore by inviting bids last year.

The three land parcels measure over 21,578 sq meters and have a permissible built-up area potential of over 86,000 sq meters. These will be given on lease for a period of 80 years.

MMRDA commissioner Sanjay Mukherjee told HT.com that on 4th April 2025, t...