Mumbai, July 6 -- The Brihanmumbai Municipal Corporation (BMC) has generated Rs 1,248 crore through the auction of two key properties - the iconic Crawford Market and a Worli asphalt facility - marking its first successful land monetization initiative.
Municipal Commissioner Iqbal Singh Chahal confirmed the transactions will fund critical infrastructure projects across the city.
The Worli asphalt plant attracted the highest bid at Rs 879 crore, while the Crawford Market plot was sold for Rs 369 crore to real estate firm Awa Developers.
Though municipal valuations had projected Rs 400 crore for the Crawford market site, the final bid fell marginally short. This revenue boost comes as the BMC executes infrastructure projects worth approx...