New Delhi, Oct. 7 -- The State Bank of India (SBI) is planning a significant bulk purchase of 200 ready-to-move-in two-bedroom hall-kitchen (2BHK) flats across the Mumbai Metropolitan Region (MMR) for its staff. This major acquisition is valued at approximately Rs.294 crore, excluding statutory taxes.

As per the documentation released on 7 October, the lender has issued a tender inviting developers to submit bids for units in four specific property clusters.

The bank intends to buy 50 units in each of the identified clusters. For the central suburbs, it has earmarked Rs.84 crore (excluding taxes) for the acquisition of 50 2-bedroom apartments. In the western suburbs, the estimated cost for 50 similar units is Rs.108 crore (excluding tax...