Government agencies regain confidence with Lodha land deal

Around three government agencies are planning to sell plots worth at least Rs 6,000 crore in the next two months, following the success of the Rs4,050-crore Wadala land deal in Mumbai.

Government-owned entities such as National Textile Corporation (NTC), Mumbai Metropolitan Region Development Authority (MMRDA) and Railway Land Development Authority (RLDA) have either started or hastened the process to sell land to cash in on the revival of interest for big-ticket deals.

In the costliest ever land deal in the country, the Lodha Group yesterday bought a six-acre plot in Wadala.

NTC now wants to sell land in Bharat Textile Mills, Worli, in central Mumbai. Also, MMRDA extended the date for submission of proposals for the development of an inter-state bus terminal (ISBT) in the same locality. The agency also plans to float tenders for another commercial plot at the tony Bandra Kurla Complex, which has 14,500 sq mt (156,000 sq ft). The land is expected to fetch around Rs400-crore.