Bandra Kurla Complex - Project Update thread

[IU]

Nope, it's a different project.

Some news on the convention center - RIL might tie up with Wadhwa to develop this one.

June 23: BKC convention centre may be reality soon

MUMBAI: Mukesh Ambani's Reliance Industries is in advanced talks with Wadhwa Group to jointly develop the 17-acre Bandra-Kurla Complex (BKC) plot reserved for a convention-cum-commercial centre, property sources say.

Wadhwa Group, which has emerged as the frontrunner, has offered to buy equity in the project for close to Rs 1,200 crores from RIL. With a Floor Space Index (FSI) of 4 at BKC, the joint venture partners are expected to build a large convention center on that plot, measuring over 50 lakh sq ft of developable area. The rest is expected to be developed into a commercial complex by the two partners, which includes the RIL's headquarters and a hotel. This could be the second real estate deal between RIL and Wadhwa Developers in 2010 wherein the companies entered into a Rs 1,000 crore deal over another BKC project. (The C-66 project)

Wadhwa spokespersons refused to comment.

Sources say RIL was earlier in no hurry to start construction as the petition by the Anil Ambani-led Reliance Communications & Infrastructure Ltd is pending in court. RCIL has challenged the MMRDA's decision to grant additional space to RIL after the tender (for the plot) was granted. But, four years have passed since it purchased the convention cum exhibition plot and the deadline set by the MMRDA for the convention centre to be operational expires in two months.

"It is unlikely that the MMRDA will penalize RIL for the delay, but RIL is keen to close the chapter as it is affecting its image," said a source.

Meanwhile, the MMRDA is yet to decide on RIL's request to refund Rs 696 crore it paid for the additional space of 72,500 sq mt for the plot.

[Chrisel]

Originally Posted by IndiansUnite

Nope, it's a different project.

Some news on the convention center - RIL might tie up with Wadhwa to develop this one.

Thanks, IU!

[devendra1]

slightly off topic - Can someone tell if Pune's Hinjawadi IT park with 2800 Acres will be bigger than BKC in terms of office space ?

if yes then this will probably one of the biggest A grade office space in India.

[Vicky007]

Rs 1000-cr bonanza for MMRDA in BKC.

http://www.mumbaimirror.com/article/....html?pageno=2

Tall buildings will soon dot the Bandra-Kurla Complex skyline. Giving in to demands by private and government organisations, and financial concerns, the Mumbai Metropolitan Region Development Authority (MMRDA) has now decided to increase the Floor-Space Index here from the current 1.5 to 3 for residential buildings and from 2.5 to 4 for commercial structures.

MMRDA also plans to sell extra built-up area. This means that builders who shell out the cash can build more floors on pre-existing structures.

MMRDA’s Metropolitan Commissioner Rahul Asthana said the government body already 31 applicants lined up, requesting that they be allowed to build more floors on their existing plots.

Of these six have already paid the extra charge which has come up to Rs 120 crore and another 18 have paid 20 per cent of the charge, amounting to Rs 397 crore. Asthana added that through the sale of extra built-up area, the agency will earn almost Rs 1,000 crores in four years.

Many developers wanted to purchase the extra built up on their existing plots but wanted more time from the body to book their pleas. Now that the executive committee has approved the proposal they have time till March 31, 2012.

The increased FSI is applicable only for G Block

According to ready reckoner rates, developers currently have to pay Rs 93,300 per square metre for extra built-up areas. Last year, this rate was Rs 71,800.

The increased FSI is applicable only for G Block which is the hub of activity in BKC with offices of major firms such as the Regional Passport Office, ING Vaisya Bank, the Income Tax Department, Oriental Bank of Commerce and State Bank of India. Many of these firms also have their own residential quarters here.

With an FSI of 4, MMRDA now has commercial space amounting to 19,10,950.40 square metres up for sale in BKC. The residential space, with an FSI of 3, comes up to 2,38,744.89 square metre.

At present, the residential and commercial rates at BKC stand at Rs 40,000 per square feet. Which means that a 1,000 square ft flat costs a minimum of Rs 4 crore.

The MMRDA move, to increase FSI, will only benefit developers. Home buyers will not, in any way, get relief from this.

Realising that if it sells all the land it has in its kitty, its infrastructure projects will be affected, the MMRDA has hired a private firm for assistance.

Asthana said, “We are planning to make the sale process systematic so that while we earn the maximum from our lands, we don’t run out of plots.”

To this end, MMRDA is also trying to build city-level Infrastructure so that rates at BKC increase, thus earning the agency more money from fewer sales.

[sixsigma1978]

Are there any plans to relocate (or already relocating) the slum clusters North of BKC and south of CSIA? I had read a while back that some 70000 families in CSIA nearby slums would start rehabiltiating eventually - but wasn't sure if this cluster was part of it.

[IMG]http://i52.************/wciumh.jpg[/IMG]

[rathibent]

Originally Posted by Vicky007

Rs 1000-cr bonanza for MMRDA in BKC.

http://www.mumbaimirror.com/article/....html?pageno=2

Tall buildings will soon dot the Bandra-Kurla Complex skyline. Giving in to demands by private and government organisations, and financial concerns, the Mumbai Metropolitan Region Development Authority (MMRDA) has now decided to increase the Floor-Space Index here from the current 1.5 to 3 for residential buildings and from 2.5 to 4 for commercial structures.

MMRDA also plans to sell extra built-up area. This means that builders who shell out the cash can build more floors on pre-existing structures.

MMRDA’s Metropolitan Commissioner Rahul Asthana said the government body already 31 applicants lined up, requesting that they be allowed to build more floors on their existing plots.

Of these six have already paid the extra charge which has come up to Rs 120 crore and another 18 have paid 20 per cent of the charge, amounting to Rs 397 crore. Asthana added that through the sale of extra built-up area, the agency will earn almost Rs 1,000 crores in four years.

Many developers wanted to purchase the extra built up on their existing plots but wanted more time from the body to book their pleas. Now that the executive committee has approved the proposal they have time till March 31, 2012.

The increased FSI is applicable only for G Block

According to ready reckoner rates, developers currently have to pay Rs 93,300 per square metre for extra built-up areas. Last year, this rate was Rs 71,800.

The increased FSI is applicable only for G Block which is the hub of activity in BKC with offices of major firms such as the Regional Passport Office, ING Vaisya Bank, the Income Tax Department, Oriental Bank of Commerce and State Bank of India. Many of these firms also have their own residential quarters here.

With an FSI of 4, MMRDA now has commercial space amounting to 19,10,950.40 square metres up for sale in BKC. The residential space, with an FSI of 3, comes up to 2,38,744.89 square metre.

At present, the residential and commercial rates at BKC stand at Rs 40,000 per square feet. Which means that a 1,000 square ft flat costs a minimum of Rs 4 crore.

The MMRDA move, to increase FSI, will only benefit developers. Home buyers will not, in any way, get relief from this.

Realising that if it sells all the land it has in its kitty, its infrastructure projects will be affected, the MMRDA has hired a private firm for assistance.

Asthana said, “We are planning to make the sale process systematic so that while we earn the maximum from our lands, we don’t run out of plots.”

To this end, MMRDA is also trying to build city-level Infrastructure so that rates at BKC increase, thus earning the agency more money from fewer sales.

idiots should have allowed it in first place itself...bkc would have had 60-70 floored commercial skapers....and what issue they had with wadala iconic tower if they are starting to allow high scrapers in bkc...

[deekshith]

[rathibent]

[Indiadreams]

60-70 floors I doubt, it is too close to the airport. They have just increased FSI. Height restrictions may still apply. Prolly western side of BKC can have taller buidings as it is slightly off the flight path.

[Coolguyz]

Originally Posted by IndiansUnite

^Thanks for the tip. They bought the land from Reliance for a little over 1k crore last year.

Renders:




tidbit on the facade:

The concept of the C-66 is to create the scenic view of a stunning waterfall with natural running water through the C-66 building facade, with installation of an infinity pool on the Eastern front of the building.
Source


@Everyone - What are your thoughts on creating a new thread to track all of the BKC's nifty looking buildings?

L&T on yet another unique project

adult image host

[Savz]

Originally Posted by Coolguyz

L&T on yet another unique project

adult image host

CG, what is this L&T proj called?How tall?Any renders?

[Coolguyz]

Originally Posted by Savz

CG, what is this L&T proj called?How tall?Any renders?

Its a wadhwa project. Its on their website called C 66

[IU]

Originally Posted by Coolguyz in Feb 2011

Signature Island in BKC by Sunteck Reality, not able to find any renders to go with it

http://www.freeimagehosting.net/uploads/f5447111d8.jpg

2 recently taken pics:

Copyright Dhiraj Singh/Bloomberg

[deekshith]

Oct 1st 2011

Photo copyright: lexus choi



Uploaded with ImageShack.us

[KuwarOnline]

coming up nicely

[dunefreezer]

Yeah!!!...Looking Nicer everyday!

[Vicky007]

MGM Resorts plans Bellagio, MGM Grand hotels in Mumbai.

http://www.lvrj.com/business/mgm-res...8.html?ref=688

MGM Resorts International announced Tuesday it would build nongaming versions of the Bellagio, MGM Grand and Skylofts hotels as part of a mixed-use development in Mumbai, India.

The company, through its MGM Hospitality division, is building both nongaming and gaming projects in the Middle East, North Africa, India, and China.

The newest project is part of the Maker Maxity, a 20-acre integrated commercial, entertainment and hospitality complex in Mumbai. Maker Maxity is located at the entry point of the Bandra Kurla Complex, the city's new Central Business District.

In addition to the Bellagio, MGM Grand, and Skylofts hotels, the planned complex includes commercial office buildings, a luxury retail development and a private club as part of the hospitality precinct.

MGM Hospitality Chief Executive Officer Gamal Aziz touted the project's "proximity to Bollywood and the affluent Bandra neighborhood."

[IU]

^This is the location (view on google maps):


-Site prep seems to be underway

A render on a realtor's website:


This might just be for representation purposes and not what's coming up. Surely MGM would like to check into a more iconic building than shown above.

[Vicky007]

Maker Maxity is the SPV promoted by Mukesh Ambani with stake participation by the Maker Builder Group.
What happened to the Covention Center that was to come up at BKC?

[IU]

^The convention center is going to come up on plot C-64. Maker Maxity's address is 3 North Avenue.