Mumbai real estate: MMRDA allocates additional plot to NSE in BKC for ₹758 crore
MMRDA has allocated an additional plot of 5,500 sq m to the National Stock Exchange of India in Mumbai's Bandra-Kurla Complex for ₹758 crore
The Mumbai Metropolitan Region Development Authority (MMRDA) has allocated an additional plot of 5,500 sq m to the National Stock Exchange of India (NSE) in the commercial hub of Bandra-Kurla Complex (BKC) for ₹757.9 crore, MMRDA said in a statement on April 6.
The newly allotted land on plot number C-82 in the ‘G’ Block of BKC spans 5,500 sq m and allows for a built-up area of 22,000 sq m under a permissible FSI of 4.00. The authority said the plot will be leased for 80 years at a premium of ₹757.90 crore and will be used to construct a new administrative building for the exchange.
The request for the new plot was made by NSE on October 11, 2024, seeking additional space for its operations. The allocated plot has scope for additional construction beyond the current FSI limit. As per a Maharashtra government notification dated July 19, 2024, NSE can increase the built-up area further by paying an additional premium to MMRDA.
Move expected to support NSE's operational requirements
The formal offer letter for the allotment was issued to NSE on March 7, 2025. Officials said the move is expected to support NSE’s operational needs and strengthen Mumbai’s standing as a key financial centre.
The new facility is expected to enhance NSE’s operations' efficiency and add commercial value to the already sought-after BKC area, which has become a focal point for financial institutions, multinational companies, and commercial developers in recent years.
The approval was granted under Chief Minister Devendra Fadnavis, Deputy Chief Minister and Urban Development Minister Eknath Shinde, who also chairs the MMRDA, and Metropolitan Commissioner Sanjay Mukherjee. In 1993, MMRDA had previously allotted Plot No. C-1 in BKC’s G Block to NSE for its headquarters, Exchange Plaza.
"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," Fadnavis said in a statement.
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"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," Shinde said in a statement.
A media report had said earlier that the NSE plans to convert its existing headquarters in Mumbai's Bandra-Kurla Complex (BKC) into a large data center.
