MMRDA to appoint international consultants for IFSC at BKC

The Mumbai Metropolitan Region Development Authority (MMRDA) has set the ball rolling for chief minister Devendra Fadnavis’s dream project of setting up an International Financial Services Centre (IFSC) at the Bandra-Kurla Complex (BKC).

MMRDA will appoint international consultants in order to prepare a master layout plan of IFSC and tenders will be floated for the same. A proposal for the same was cleared by the MMRDA in August 2015, to develop a global financial centre in order to attract international companies set up their hub in the commercial area of BKC.

“We are working on the model of IFSC under the committee set up under the minister of state for finance Jayant Sinha and now based on the report of consultants we will proceed further,” said CM Devendra Fadnavis who is also the chairman of MMRDA.

Mr Fadnavis had set up a task force committee for planning and preparation of the legal framework and other regulations and norms. The committee under Mr Sinha consisted of chief secretary Swadheen Kshatriya, principal secretary of urban development department, Nitin Kareer along with MMRDA metropolitan commissioner UPS Madan.

“A draft of the tender document for appointing layout design consultants is ready with us and it will be approved by the metropolitan commissioner after which global agencies will be able to bid for preparing a master plan,” said a senior MMRDA official.