The National Stock Exchange (NSE) has secured over 1 lakh sq ft of premium land in Mumbai’s Bandra Kurla Complex (BKC) through an 80-year lease agreement with the Mumbai Metropolitan Region Development Authority (MMRDA). The total transaction value for the land allotment stands at Rs 1,684 crore, according to property registration documents accessed by Propstack.
The lease pertains to amalgamated plots C-81 and C-82 located in the G Block of BKC, one of India’s most expensive commercial business districts. Together, the two plots measure approximately 10,995 square metres, or nearly 1.1 lakh sq ft.
Documents show that the land parcel permits a maximum built-up area of around 43,980 square metres, equivalent to nearly 4.7 lakh sq ft. The transaction was executed at an estimated rate of Rs 3.87 lakh per sq metre, translating to nearly Rs 36,000 per sq ft.
According to the records, plot C-82, measuring 5,500 sq metres, was initially allotted in March 2025 for Rs 757.90 crore. However, the lease premium was later revised to Rs 833.69 crore in October 2025. Subsequently, plot C-81 was allotted to NSE in December 2025 for Rs 850.62 crore, taking the total transaction value to Rs 1,684 crore.
The agreement was officially registered on May 5, 2026. Registration documents show that stamp duty worth Rs 75.79 crore was paid along with registration charges of Rs 30,000.
“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.
Commenting on the transaction, Raja Seetharaman, cofounder of Propstack, said, “This Rs 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.”
While NSE already operates its headquarters in BKC, MMRDA had earlier stated that the exchange sought additional land in October 2024 to expand operational capacity. Previous reports have also suggested plans to convert NSE’s existing headquarters into a large data centre.
The development comes amid increasing demand for commercial land in BKC. Earlier this year, the Bombay Stock Exchange (BSE) also approached MMRDA seeking land allotment in the business district for future expansion.
Source: Hindustan Times
