The private firm — Nishalp Realties — that the civic body bought an encroached land worth over Rs 349 crore from, made gains of nearly Rs 346 crore through the deal. mid-day had reported about the deal on October 23. Nishalp Realties had bought the plot in Eksar village in 2010 for Rs 2.55 crore. Effectively, within a span of 10 years, Nishalp Realties, headed by Alpesh Ajmera, has made a profit of 13,556 per cent with the sale.

The cost of the land has taken those in the BMC corridors and the political fraternity aback. The acquisition was made this year despite being shot down by the BMC commissioner Praveen Pardeshi in 2019 over the encroachment.