Media reports indicate that the Mumbai Port Trust (MbPT) may earn Rs 10 crore rent from the Brihanmumbai Municipal Corporation (BMC) for leasing
a 2,200-sq-m plot on Reay Road for 30 years. MbPT would allot the land on a licence basis to the civic body for the proposed stormwater pumping station at the Britannia Outfall at RetiBunder on Reay Road
Tag: rent
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Mumbai Port to earn rent from land given to BMC
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MbPT locked in legal battle with IHCL
Mumbai Port Trust (MbPT) and Indian Hotels Company (IHCL) are locked in a legal battle over paying of rent by the latter for the land IHCL occupies in Mumbai. According to media reports, MbPT demands a 'fair rent' from IHCL on the basis of six per cent yearly rent on the market value of the land as per the Ready Reckoner Rate