MbPA Leases Historic Ballard Estate Building To Generate Over ₹15.43 Crore Annually
The Mumbai Port Authority (MbPA) has invited bids to lease a prime land parcel and the historic Railway Manager Building in Ballard Estate, South Mumbai, on a 30-year lease. The authority aims to generate over ₹15.43 crore in annual revenue through this tendering process, which offers the property on an "as is where is" basis.
The property, spread across 2,050.74 square metres, includes the ground-plus-two-storey Railway Manager Building, which features a built-up area of approximately 2,928 square metres. Constructed in 1917-18, the over 100-year-old historic structure may require extensive repairs and structural strengthening. Under the terms of the lease, the successful bidder will be required to bear all associated costs for these repairs.
According to the Request for Proposal (RFP), the lease is for a strict 30-year period with no provision for renewal at the end of the term. The land has been earmarked for commercial use under the Development Control Regulations, 1991. The MbPA serves as the Special Planning Authority for the Ballard Estate precinct.
The existing Floor Space Index (FSI) utilised on the plot is 1.427. While no new construction beyond the permissible FSI will be allowed other than repairs and structural strengthening, bidders can apply to avail of additional FSI up to the permissible limit. This will require MbPA's approval and the payment of a prescribed premium.
The reserve lease rent for the property has been set at ₹1,213.08 per square metre per month for the first year, translating to a monthly rent of ₹8.52 crore. The lease rent is scheduled to escalate by 2% every year over the remaining 29 years of the agreement. The property will be awarded to the highest bidder for the full 30-year term.
This tendering process follows an earlier initiative by the MbPA in August 2025, when the authority invited bids to lease 28 plots spanning more than 217 acres across Mumbai's eastern waterfront and Alibaug, including locations in Colaba, Fort, and Sassoon Dock, to raise over ₹800 crore.
