MMRDA clears a ₹758 crore BKC plot allotment to NSE

The Mumbai Metropolitan Region Development Authority (MMRDA) has granted post facto approval for the allotment of a prime plot in the Bandra-Kurla Complex (BKC) to the National Stock Exchange (NSE). The 5,500 sqm plot, C-82 in G-block, was allotted to NSE for Rs. 757.9 crore and will allow the exchange to expand its headquarters with an additional 22,000 sqm of permissible built-up space. The plot will be leased to NSE for 80 years for commercial use.

Supporting NSE’s Expansion in BKC

NSE, which has been headquartered in BKC since 1993, requested an additional plot on October 11, 2024, to accommodate its growing need for around 4-5 lakh square feet of built-up space. This plot allocation is part of the exchange’s expansion plans to maintain its status as a leading financial institution in India.

The move to allot additional land to NSE aligns with the state government's July 19, 2024, notification, which permits NSE to acquire built-up space beyond the standard 4 FSI (floor space index) limit by paying the applicable premium to MMRDA. This decision was crucial in providing NSE with the room needed for expansion without the usual regulatory constraints.

Approval and Strategic Importance

The allotment proposal was approved at MMRDA’s 159th authority meeting on March 28, 2025, under Clause 16 of the MMRDA's Land Disposal Regulations, 1977. The proposal was cleared by the Deputy Chief Minister and Urban Development Minister Eknath Shinde, who also chairs MMRDA. Following the approval, MMRDA issued an offer letter to NSE on March 7, 2025.

The project was welcomed by Maharashtra’s Chief Minister, Devendra Fadnavis, who emphasized that the expansion of NSE in BKC would reinforce Mumbai’s position as the financial capital of India. Fadnavis added that the move would create a more conducive environment for business and investment, further strengthening the city's economic inf