January 24, 2026: The heritage building housing Mumbai’s 140-year-old Capitol Cinema in the Fort area has changed hands and is set to undergo repairs and renovation in line with conservation regulations. Inorbit, the retail real estate arm of the K Raheja Group, has acquired Nadir Company Private Limited, the leaseholder of the landmark property located opposite Chhatrapati Shivaji Maharaj Terminus (CSMT), according to lease documents accessed by Zapkey.com.
The acquisition has been disclosed through a declaration filed with the Inspector General of Registration and Controller of Stamps, Maharashtra, which identifies Inorbit as a retail real estate platform of the K Raheja Group. The move comes after the Brihanmumbai Municipal Corporation (BMC) renewed the lease of the Capitol Cinema building in October 2025 for a 10-year period from May 2025 to April 2035. Nadir Company Private Limited formally accepted the renewal through a registered undertaking filed on December 16, 2025.
Under the terms of the renewal, the lessee has committed to carrying out repairs while preserving the heritage character of the structure, given its location near the BMC headquarters and CSMT. The BMC order also restricts land use at the site to cinema, retail and residential purposes. “In accordance with the Renewal Order, we hereby undertake to carry out repairs and renovation work in the said property, considering its vicinity to the Brihanmumbai Municipal Corporation head office and Chhatrapati Shivaji Maharaj Terminus. Further, we undertake to rectify the breaches within one year from the date hereon,” the undertaking stated.
Sources familiar with the matter said the building cannot be redeveloped into a high-rise due to its heritage status. “The heritage status ensures that the structure cannot be demolished for the construction of a high-rise. However, the developer may repurpose the existing building into an art gallery or a retail gallery, provided the heritage structure is retained,” a source said.
Originally leased in 1908, Capitol Cinema emerged as one of Bombay’s prominent cinema halls in the early 20th century and remains part of the city’s protected heritage precinct. As a designated heritage structure, any repair or alteration will require approval from the Mumbai Heritage Conservation Committee, with the focus expected to remain on conservation rather than redevelopment.
Source: Hindustan Times
