NPCI Acquires ₹829 Crore Plot in Mumbai’s BKC for New Global Headquarters

The National Payments Corporation of India (NPCI) has secured a prime 6,000 square metre plot in Mumbai’s Bandra-Kurla Complex (BKC) from the Mumbai Metropolitan Region Development Authority (MMRDA) for ₹829.43 crore. The deal marks a significant move by NPCI to establish a new headquarters and research and development centre in India’s most expensive commercial district.

According to property registration documents accessed by Propstack, the plot is a combination of parcels C-44 and C-48 located in G Block of BKC. NPCI has signed an 80-year lease agreement with MMRDA for the site, which has a development potential of approximately 24,076.4 square metres or 2.59 lakh square feet.

The planned development includes the construction of a 16-storey office building, with NPCI's board having approved a proposal to create a total built-up area of around 5 lakh square feet. The proposed structure will also include four to five levels of basement parking, reflecting the growing demand for integrated office infrastructure in the city’s central business district.

Given the current development rights available on the plot, NPCI may need to acquire additional Floor Space Index (FSI) to meet its target built-up area. The organization is expected to work closely with planning authorities and possibly enter into premium FSI agreements to expand vertical capacity in line with its architectural plans.

The acquisition aligns with NPCI’s strategic vision to expand its global presence and establish a modern, innovation-driven hub for India’s digital payments ecosystem. Media reports have indicated that the proposed headquarters will include a high-capacity R&D facility designed to accommodate up to 5,000 employees. This is expected to strengthen NPCI’s role as the backbone of India’s retail digital payment infrastructure and boost its international capabilities.

NPCI had formally approached MMRDA in August 2024, requesting the allotment of land within BKC to support its long-term infrastructure plans. The MMRDA subsequently granted administrative approval in September 2024 for the construction of the NPCI headquarters, as part of a broader plan to promote the Mumbai Metropolitan Region as a global economic centre.

The Authority has also approved the formation of a dedicated Project Implementation Unit and Business Development Cell to facilitate the timely execution of major institutional and commercial projects in the region.

Bandra-Kurla Complex has emerged as India’s leading commercial address for top banking and financial institutions, housing global names in the BFSI sector, Fortune 500 companies, and diplomatic missions. The location provides high visibility, modern infrastructure, and strong connectivity, making it ideal for national institutions like NPCI.

This land deal adds to a growing trend of high-value transactions in BKC. In recent months, global financial firms including JP Morgan and Sumitomo have also made significant leasing and acquisition moves in the area, underlining its status as the commercial heart of Mumbai.