SBI Employees in Mumbai to Get Flats, SBI planning to purchase 200 Flats

There is a good news for State Bank of India (SBI) Employees. The SBI Employees will soon get 200 Flats in Mumbai.

The State Bank of India (SBI) is planning to purchase of 200 ready-to-move-in two-bedroom hall-kitchen (2BHK) flats across the Mumbai Metropolitan Region (MMR) for its staff. This will cost approximately ₹294 crore, excluding statutory taxes.

But this will also help the bank in saving a lot of time spent on accomodation of employees. Right now, Bank provides leased accomodation facility to its employees i.e. bank pays rent for its employees. The rent in Mumbai is increasing at a rapid pace. If SBI pays Rs.30,000 per month for one employee then it comes at Rs.3,60,000 for one year. For 200 employees it will be Rs.7.2 crore per year. So the SBI has planned to purchase its own flats and save money on rent.

A few months earlier, the Government of India had also unveiled Kartavya Bhawan. All the government offices will be shifted to this new building and government will save approximately Rs.1500 crore annually.

SBI has issued a tender inviting developers to submit bids for units in four specific property clusters.

The bank plans to buy 50 units in each of the identified clusters. For the central suburbs, it has earmarked ₹84 crore (excluding taxes) for the acquisition of 50 2-bedroom apartments. In the western suburbs, the estimated cost for 50 similar units is ₹108 crore (excluding taxes), according to the tender document. For the Thane–Kalyan region, the bank has set aside ₹54 crore, while for the Kharghar–Panvel region, the estimated allocation stands at ₹48 crore. Each flat will have a MahaRERA carpet area of approximately 55.74 sq. m. (600 sq. ft.).

There will be 400 parking spaces in total, comprising 200 dedicated car parking spots and 200 two-wheeler parking slots.