NSE Secures 5,500 Sqm Parcel in Bandra-Kurla Complex in ₹757.9 Cr Deal with MMRDA
The National Stock Exchange of India Ltd. (NSE) has secured an additional land parcel in Mumbai’s Bandra-Kurla Complex (BKC) from the Mumbai Metropolitan Region Development Authority (MMRDA) for ₹757.9 crore. The allotment is intended to support the exchange’s infrastructure expansion and address its evolving operational needs.
As per the official notification issued by MMRDA, the newly allotted plot measures 5,500 square meters and is located at plot number C-82 in the ‘G’ Block of BKC. It permits a built-up area of 22,000 square meters under a Floor Space Index (FSI) of 4.00. The land will be leased to NSE for a period of 80 years at a premium amount of ₹757.90 crore.
The request for this additional land was submitted by NSE on October 11, 2024. The plot is intended to accommodate a new administrative building for the exchange. The allotment also includes the provision for additional construction beyond the current FSI, as per a Maharashtra government notification dated July 19, 2024. This provision allows for increased built-up area subject to the payment of an additional premium to MMRDA.
The formal offer letter for the land allotment was issued to NSE on March 7, 2025. Officials at MMRDA stated that the decision was made to strengthen BKC’s positioning as a financial centre and to provide the NSE with the required space for expansion of its administrative operations.
The approval was granted under the leadership of Devendra Fadnavis, Chief Minister of Maharashtra; Eknath Shinde, Deputy Chief Minister and Minister of Urban Development, who also serves as Chairman of MMRDA; and Dr. Sanjay Mukherjee, IAS, Metropolitan Commissioner, MMRDA.
Commenting on the development, Chief Minister Devendra Fadnavis 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.”
Deputy Chief Minister and Urban Development Minister Eknath Shinde added, “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.”
Dr. Sanjay Mukherjee, Metropolitan Commissioner of MMRDA, has overseen the planning and coordination of this allotment as part of MMRDA’s broader strategy to promote planned development of financial infrastructure in Mumbai.
The BKC area has steadily evolved into a preferred location for financial institutions, multinational companies, and regulatory bodies. MMRDA’s development of BKC into a planned commercial district has made it one of the most prominent business hubs in India.
In 1993, MMRDA had earlier allotted Plot No. C-1 in the G Block of BKC to NSE, where its current headquarters, Exchange Plaza, is located. As per recent reports, NSE is considering converting this existing facility into a data center to address growing technological and operational needs.
The latest allotment continues the trend of high-value commercial land transactions in BKC. Recently, MMRDA also received bids from Japan’s Sumitomo Corporation and the Schloss Consortium for three other plots in BKC, amounting to over ₹3,800 crore in bid value.
With the NSE’s expansion and sustained demand for space in BKC, the MMRDA’s role in shaping Mumbai’s financial infrastructure remains central. This development is expected to contribute to Mumbai’s economic ecosystem and support the evolving needs of one of the country’s key financial institutions.