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Sumitomo Corpn buys land in BKC for Rs 2,238 cr

Tuesday, 09 Jul 2019
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The Japanese company Sumitomo Corporation has purchased a three acre land parcel in the Bandra-Kurla Complex of Mumbai, Maharashtra.

The land has been purchased from the nodal agency, the Mumbai Metropolitan Regional Development Authority (MMRDA), for Rs 2,238 crore. Given that the 12,486 sq mtr plot has a buildable area of 65,000 sq mtr, the deal works out to be about Rs 32,000 per sq ft.

Sumitomo Corporation was expected to house its buildings on the plot. The plot C-65 in the G-Block was leased to Goisu Realty, a unit of Sumitomo for a period of 80 years for an amount of Rs 2,238 crore.

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