MMRDA allocates plot to NSE in Mumbai's BKC for lease premium of Rs 757 cr

The Mumbai Metropolitan Region Development Authority (MMRDA) has allocated a plot in Mumbai’s Bandra-Kurla Complex (BKC) to the National Stock Exchange of India (NSE) for a lease premium of Rs 757.70 crore.

 

The allocated Plot C-82 in G Block, BKC, has a total area of 5,500 square metres and a built-up area of 22,000 square metres, with a permissible floor space index (FSI) of 4.00.

 

NSE will develop an administrative building on the allocated plot. The plot has been leased for a period of 80 years.

 

“This allotment will enhance operational efficiency for NSE and contribute significantly to the ongoing commercial development of BKC – strengthening Mumbai’s position as a financial capital,” a statement from MMRDA said.

 

MMRDA is the Maharashtra government agency responsible for preparing the regional infrastructure development plan for the Mumbai Metropolitan Region (MMR).

 

Previously, in 1993, MMRDA had allotted Plot C-1 in G Block of 16,038.3 square metres with a built-up area of 31,044.05 square metres for NSE’s headquarters, by relaxing certain provisions of MMRDA’s Land Disposal Regulations, 1977.

 

Devendra Fadnavis, chief minister of Maharashtra, said, “This decision reflects Maharashtra’s commitment to fostering financial growth and infrastructure development. By enabling NSE to expand its footprint in Bandra-Kurla Complex, we are reinforcing Mumbai’s position as the financial capital of India and ensuring a conducive business environment for key institutions.”

 

Eknath Shinde, deputy chief minister of Maharashtra and chairman of MMRDA, stated, “The allotment of Plot C-82 to NSE is part of MMRDA’s efforts to strengthen BKC as a key financial hub. This step will boost commercial growth, support NSE’s expansion, and contribute to Mumbai’s economic development.”