India, March 28 -- A 400-bed multi-specialty hospital will soon come up in Bandra Kurla Complex after Jupiter Life Line Hospitals secured a 2.47-acre plot from Mumbai Metropolitan Region Development Authority for Rs.354 crore.

The land, located at plot number SF5 in GTxT Block and measuring around 10,026 sq m, has been allotted on an 80-year lease. The authority announced the allotment on Wednesday. The hospital group has paid Rs.88.5 crore on Friday which is 25% of the bid amount, while the remaining amount is to be paid within a year.

The facility is expected to come up within 24-30 months after obtaining regulatory clearances. The company plans to invest around Rs.600 crore in the project, with an estimated capital expenditure of up ...