Leela BKC Holdings Private Limited has formally registered an 80-year lease for a prime land parcel in Mumbai’s Bandra-Kurla Complex (BKC), following payment of a Rs 1,302.16 crore lease premium. The transaction covers a 90,537 sq ft plot earmarked for a mixed-use hotel and office project.
The lease was registered on September 11, 2026, after the Mumbai Metropolitan Region Development Authority (MMRDA) allotted the property to a consortium led by The Leela in June 2025.
Located at Plot C-80 in BKC’s G Block, the site measures 8,411.88 sq m, or around 90,537 sq ft. Registration records show that stamp duty of ₹58.60 crore was paid, while a separate rent agreement was recorded at Rs 1,171.94 crore. The lease documentation was adjudicated by the Stamp Collector’s office in Borivali on September 10.
The plot has development potential for a built-up area of 33,647.52 sq m, equivalent to four times the land parcel’s area. The development capacity and lease premium had earlier been disclosed by The Leela when the property allotment was announced.
The consortium submitted its bid for the plot in February 2025, with MMRDA approving the allotment on June 2 that year. The resulting lease was registered in the name of Leela BKC Holdings, a joint venture equally owned by The Leela and a Brookfield affiliate.
The partners are planning a combined hotel and office development. The Leela is expected to hold a 50% interest in the proposed hotel, while Brookfield will hold the balance hotel stake and the office business. The joint venture may also seek regulatory clearance to transfer the office component into a separate entity.
According to The Leela’s July 31, 2026 investor presentation, the Rs 1,302.16 crore lease premium had already been paid. Design work was nearing completion, while preliminary site preparations had begun.
The development pipeline includes a 250-room hotel, with the company targeting an opening in 2030. With the lease now registered, the project moves into its next phase, subject to design completion and regulatory approvals.
Source: H4 Enews
