Tag: Bandra Kurla Complex

CommercialLatest Stories

Chronos Properties extends ₹148 crore bank guarantee for IL&FS office

NEW DELHI: Brookfield-backed Chronos Properties has successfully renewed a ₹148 crore bank guarantee, keeping its bid alive for the prime Bandra Kurla Complex property of Infrastructure Leasing and Financial Services (IL&FS). In an affidavit submitted to the National Company Law Appellate Tribunal (NCLAT), Chronos announced that on December 19, 2025, it provided three demand drafts totaling ₹148 crore to the registrar at the Mumbai bench of the National Company Law Tribunal. Previously, on December 5, NCLAT instructed Chronos Properties to renew its bank guarantee within a month to remain eligible as a bidder for the IL&FS Financial Centre at BKC,…

CommercialLatest Stories

Labdhi Lifestyle to Invest ₹700 Crore in BKC Commercial Project

NEW DELHI: Labdhi Lifestyle is set to invest ₹700 crore in the development of BKC Edge, a commercial project located at H-Block in Bandra Kurla Complex (BKC), Mumbai. The total gross development value (GDV) is projected to exceed ₹1,000 crore, providing a carpet area of 2.25 lakh sq ft. Occupying 1.25 acres, the development will feature over 300 business suites. According to a CBRE report, in the October–December quarter, Mumbai made up approximately 22% of the total 22.2 million sq ft of office space leased across India. The report suggests that Mumbai is likely to remain a key office market…

CommercialLatest Stories

Logitech India Leases BKC Office for ₹4 Crore

NEW DELHI: Logitech Electronics India has signed a lease for a commercial office space in Bandra Kurla Complex (BKC), Mumbai, with total rental costs amounting to approximately ₹4 crore over a five-year span, as reported by Volney. The company has leased Unit No. 407 on the fourth floor of the Trade Centre, a commercial building in BKC, covering an area of around 2,010 sq ft. The lease agreement features a five-year lock-in period with an annual rental increase of 5%. ETRealty has contacted Logitech Electronics India and will provide updates based on their responses. The Trade Centre is a Grade…

IndustryLatest Stories

Oberoi Realty, Shree Naman vie for 11-acre Mumbai land

Representative AI image Real estate developers Oberoi Realty and Shree Naman Developers have qualified as bidders for the Railway Land Development Authority’s 11.21-acre prime land parcel in Mumbai’s Bandra locality, according to sources familiar with the matter. The Railway Authority set a reserve price of ₹5,365 crore for the land located along the Western Express Highway in Bandra East. The land will be leased for a 99-year term under a revenue-share model, with a base FSI of four times, as per the Railways’ tender conditions. According to one source, “The selected developer is required to share a minimum of 45%…

IndustryLatest Stories

Sumitomo Realty Bets on Mumbai’s Serviced Apartments

MUMBAI: Sumitomo Realty and Development, Japan’s third-largest developer, is set to expand its operations in India with a unique approach: focusing on Mumbai and managing apartments instead of selling them, executives told Reuters. Japanese developers are increasing their footprint in India’s $300 billion real estate market, drawn by rising rents and significantly lower construction costs than in Tokyo, New York, or London. Companies like Mitsui Fudosan and U.S.-based Blackstone have been expanding across India through partnerships with local developers or acquiring completed buildings, in light of slow land acquisition processes. In contrast, Sumitomo is focusing on Mumbai and opting for…

CommercialLatest Stories

IL&FS HQ in BKC may see 25% valuation increase

MUMBAI: IL&FS is set to pursue new valuations for its headquarters located in the Bandra Kurla Complex (BKC). A 25% increase in its current valuation is anticipated following approval from the National Company Law Tribunal (NCLT) to consider the recent surge in Mumbai’s real estate market, according to a source familiar with the situation. The tribunal has mandated Brookfield Asset Management, the global institutional investor, to renew the performance guarantee originally submitted during the bidding process for the property in 2022. “The existing valuation of ₹1,722 crore was established in 2024, and new valuations are projected to be between ₹2,000…

CommercialLatest Stories

MMRDA Seeks Bids for ₹1,629-Crore Wadala Lease

Representative image MUMBAI: The Mumbai Metropolitan Region Development Authority (MMRDA) is seeking bids for a prime commercial plot of 10,860 sq m (2 acres) in Wadala, with a reserve price set at Rs 1,629 crore. This initiative aims to monetize land outside the nearly fully occupied Bandra-Kurla Complex (BKC). The plot features a permissible built-up area of 1,08,600 sq m and a floor space index (FSI) of 10. The deadline for bid submissions is January 7, 2026. The tender represents MMRDA’s significant move to unlock the commercial potential of the Wadala Notified Area, which is envisioned as Mumbai’s third central…

Latest StoriesResidential

BKC Tenants Seek Bombay HC for Their Rightful Homes

MUMBAI: Continuing their longstanding battle for what they believe is their rightful entitlement, the appellants of Basera SRA Cooperative Housing Society in Bharat Nagar, Bandra Kurla Complex (BKC), have filed writ petitions in the Bombay High Court. They are seeking larger 550 sq ft units instead of the smaller 225 sq ft options proposed under the Slum Rehabilitation Scheme. The petitioners argue that Basera society should not be classified as a slum, and therefore, they are entitled to 550 sq ft flats in accordance with MHADA 33(5) of DCPR. A boost for the petitioners comes from the Apex Grievance Redressal…

CommercialLatest Stories

Apple Extends Office Lease in Mumbai’s Bandra-Kurla Complex

Apple India has extended its lease for several office floors at Maker Maxity in the Bandra-Kurla Complex, Mumbai, while also acquiring additional space in the tower. This expansion underscores Apple’s increasing footprint in India’s financial hub as its operations in the country continue to grow. The company has renewed its leases for office units on the 5th, 6th, 7th, and 8th floors of Maker Maxity 4 & 5 North Avenue, and has signed a new lease for the 10th floor and the terrace area. Altogether, the leased space now encompasses 37,549 square feet across five floors, with Apple set to…

CommercialLatest Stories

Raheja Universal Repurchases HQ for ₹211 Crore

Sure! Here’s a rewritten version of the provided content: Representative AI image Realty developer Raheja Universal has reacquired its corporate headquarters, Raheja Centre-Point, located on CST Road near Mumbai’s Bandra-Kurla Complex, for Rs 211 crore. Initially developed by Raheja Universal in 2004, the five-storey commercial building served as their headquarters for 16 years before being sold to HDFC in 2020, which has since merged with HDFC Bank. This sale was part of a broader portfolio realignment strategy. The property has now returned to Raheja Universal following a successful bid during a sale process initiated by HDFC Bank. The latest agreement…