E-Paper
NSE inks agreement with MMRDA to lease over 1 lakh sq ft of prime land in Mumbai’s BKC for ₹1,684 crore
Mumbai real estate: The National Stock Exchange has leased over 1 lakh sq ft of land in Bandra Kurla Complex, for 80 years at a total consideration of ₹1,684 cr
The National Stock Exchange (NSE) has leased over 1 lakh sq ft of prime land in Mumbai’s costliest commercial district, Bandra Kurla Complex (BKC), for 80 years at a total consideration of ₹1,684 crore. The lease involves two amalgamated land parcels acquired from the Mumbai Metropolitan Region Development Authority (MMRDA), the special planning authority for BKC, according to property registration documents accessed by Propstack.
According to the documents, the allotment pertains to amalgamated plots C-81 and C-82 located in the G Block of BKC. Together, the plots measure 10,995 sq m, or approximately 1.1 lakh sq ft, and have been leased to the NSE for 80 years.
The documents further show that the maximum permissible built-up area on the land parcel is around 43,980 sq m, equivalent to nearly 4.7 lakh sq ft. The transaction was executed at an estimated rate of ₹3.87 lakh per sq m, translating to around ₹36,000 per sq ft.
The acquisition of plot C-82, measuring 5,500 sq m, was initially completed in March 2025 for ₹757.90 crore. However, the lease premium for the plot was later revised upward to ₹833.69 crore in October 2025. Subsequently, plot C-81 was allotted to NSE in December 2025 at a lease premium of ₹850.62 crore, taking the total transaction value for both plots to ₹1,684 crore, according to Propstack.
However, the transaction was registered on May 5, 2026, for which a stamp duty of ₹75.79 crore was paid along with registration fees of ₹30,000, the documents show.
Also Read: Mumbai real estate: MMRDA allocates additional plot to NSE in BKC for ₹758 crore
“National Stock Exchange of India on December 02, 2025, received the allotment letter from MMRDA. This development is expected to contribute to Mumbai’s economic ecosystem and support the evolving needs of the country’s key financial institution," NSE said in an email response to HT Real Estate.
“This ₹1,684 crore deal between NSE and MMRDA highlights the continued premium placed on BKC as India's premier financial hub. Such significant institutional investment underscores BKC’s unmatched strategic value for global-scale financial operations,” said Raja Seetharaman, cofounder, Propstack.
Why did NSE take up more land in BKC?
While NSE already has its headquarters in BKC, MMRDA had said in a 2025 statement that the exchange had sought an additional plot in October 2024 to expand its operational capacity.
Earlier media reports had also stated that NSE plans to convert its existing headquarters in Mumbai’s Bandra-Kurla Complex into a large data centre.
After NSE, BSE is scouting for land in BKC for expansion
HT Real Estate had reported in March 2026 that the Bombay Stock Exchange (BSE) had approached MMRDA seeking land allotment in Bandra Kurla Complex (BKC) to expand its operational footprint in Mumbai.
BSE Managing Director and CEO Sundararaman Ramamurthy, along with Chief Regulatory Officer Kamala Kantharaj, met Sanjay Mukherjee, the Metropolitan Commissioner of MMRDA, in March 2026 to discuss identifying a suitable land parcel for the proposed expansion.
According to MMRDA officials, the authority is in the process of identifying a suitable plot for BSE in BKC, and no decision has been taken so far.
Also Read: BSE approaches MMRDA for land in Mumbai’s BKC to expand operations
All about BKC and the top companies with a presence there
BKC is the city’s central business district (CBD) and a prime hub for the BFSI sector and Fortune 500 companies. It is one of the costliest commercial districts in India, with office spaces for Jio, Apple, Netflix, Facebook, Amazon, Standard Chartered Bank, WeWork, CISCO, Pfizer, Tesla, Spotify, and Blackstone.
BKC also houses government institutions such as the GST, the Reserve Bank of India, the Income Tax Department, and the Family Court. The US Consulate also has a sprawling campus inside BKC.
A report in Hindustan Times newspaper said on May 12 that the Mumbai Metropolitan Region Development Authority (MMRDA) has put nine prime plots in the Bandra Kurla Complex (BKC) on the block, with an eye on shoring up revenues and reducing dependence on financial institutions. The nine plots have a combined area of around 53,461 square metres (around 13 acres), and the MMRDA is hoping to make at least ₹9,284.88 crore by offering them on long-term lease, based on reserve prices mentioned in the tender floated on May 11.
