Coming up in BKC, a convention centre bigger than Nariman Pt RIL Gets State OK To Develop 82 Lakh Sq Ft

Mumbai: Plot C-64 in Bandra-Kurla Complex (BKC) may well be the city's largest construction site. The sanctioned builtup area, 82 lakh sq ft, on the 18.5-acre plot will be equivalent, or perhaps more, than that of Nariman Point, which has over 35 office towers, each with a built-up area of about 2 lakh sq ft on an average. 

    The BKC plot's developer, Reliance Industries Ltd (RIL), recently began work on a much-delayed exhibition-cum -convention centre, commercial complex and service apartments. The project got the state environment department's clearance last month. 
    Plans cleared include an 18-storey tower with four basements for parking, a commercial complex and a 348-room block of flats. Most of the builtup area will comprise parking, lobbies, staircases and terraces (non-FSI areas), with living space being 33.5 lakh sq ft. Rival firm dragged BKC project to court 
Mumbai: Work has commenced on plot C-64 in BKC and will tak ethree years to complete, said MMRDA commissioner UPS Madan. The authority, which controls BKC, earned a few thousand crores in a decade by selling plots on long lease. 
    An RIL spokesperson said designs were being finalized for the Rs7,566-crore project. 
    What led to the delay?RIL(its chairman is Mukesh Ambani) won the bid in January 2006 after quoting Rs 1,104 crore, a record. An RIL representative had then said Mumbai was soon to get a world-class convention-cum-exhibition centre "between Dubai and Singapore". 
    But Mukesh's brother Anil, whose Reliance Communications & Infrastructure Ltd (RCIL) was a strong contender for the plot, moved court. RCIL objected to MMRDA's grant of additional built-up area to RIL after the bidding process. RCIL questioned MMRDA's ''largesse and bonanza'' to RIL after the ''tender wasduly approved''.Describing the decision as ''totally irrational, arbitrary and capricious'', RCIL said it would have quoted higher (its bid was Rs 1,011.12 crore, Rs 93 crore less than RIL's) had it known that MMRDA would sanction additional construction rights. A source said the dispute between thebrotherswas resolved. 
    Two years ago, the Wadhwa Group was believed to be negotiating with RIL to jointly develop the plot. When bids were invited for the plot in 2004, the highestoffer wasRs75croreby a pandal decorator. It was promptly rejected: not only was it too low, but also the company wantedtodefer payment.

Cost of plot | 1,104cr Project cost | 7,566cr Completion by | 2016