Tag: Bandra Kurla Complex

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…

CommercialLatest Stories

Brookfield buys Jet Airways’ Mumbai office via insolvency

Sure! Here’s a revised version of the content: — Representative image created by AI In a significant update regarding Jet Airways’ insolvency proceedings, Brookfield Asset Management, a major global investment firm, has acquired an additional office floor within the Godrej BKC commercial tower in Mumbai’s Bandra-Kurla Complex for ₹370.25 crore, according to sources familiar with the matter. The transaction was executed under the Insolvency and Bankruptcy Code (IBC) and supervised by the National Company Law Tribunal (NCLT). Initially, Bank of Baroda was the highest bidder, but Brookfield utilized its right of first refusal to match the bid and secure the…

IndustryLatest Stories

NPCI Buys Prime BKC Land from MMRDA for ₹829 Crore HQ

Representative image created by AI The National Payments Corporation of India (NPCI) has acquired a prime land parcel in Mumbai’s Bandra-Kurla Complex (BKC) from the Mumbai Metropolitan Region Development Authority (MMRDA) for ₹829.43 crore to establish its headquarters. Finalized on June 18, the transaction grants NPCI an 80-year lease on two amalgamated plots in G-Block, covering nearly 1.5 acres with a permissible built-up area of approximately 2.59 lakh sq ft. This deal is one of the significant land transactions in BKC and is expected to impact the area’s real estate landscape, notably regarding future pricing trends and development strategies. NPCI…

IndustryLatest Stories

Adani Properties Secures NCLT Approval for HDIL Assets

MUMBAI: The National Company Law Tribunal (NCLT) has given the green light to Adani Properties for the acquisition of two assets from the insolvent Housing Development and Infrastructure (HDIL) as part of the corporate insolvency resolution process (CIRP). The acquired assets include a commercial property named ‘Inspire BKC’ located in Mumbai’s Bandra-Kurla Complex and a piece of land situated in Kalyan Shahad on the outskirts of Mumbai. Adani Properties was identified as the sole bidder submitting a proposal compliant with the Insolvency and Bankruptcy Code (IBC) for both assets. The resolution plan for the Inspire BKC project is appraised at…