MMRDA, the Metropolitan Region Development Authority (MMRDA) led by Metropolitan Commissioner Dr. Sanajay Mukherjee has granted approval for the allotment of Plot No C-82 in the ‘G’ Block of Bandra-Kurla Complex (BKC) to the National Stock Exchange of India (NSE).

MMRDA Authority meeting

The approval aligns with the vision of Chief Minister Devendra Fadnavis, and Deputy Chief Minister Eknath Shinde. The decision aligns with the provisions outlined in Regulation No. 16 of MMRDA’s Land Disposal Regulations, 1977. This resolution was approved during the 159th Meeting of the MMRDA Authority.

In response to NSE’s request dated October 11, 2024, for an additional plot with a built-up area potential of approximately 4 to 5 lakh square feet, MMRDA considered the significance of the financial institution. Previously, in 1993, MMRDA had allotted Plot No. C-1 in ‘G’ Block (16,038.3 sq. mt. with a built-up area of 31,044.05 sq. mt.) for NSE’s headquarters, Exchange Plaza, by relaxing certain provisions of MMRDA’s Land Disposal Regulations, 1977.

Details of the Newly Allotted Plot

1. Plot Number: C-82

2. Plot Area: 5,500 sq. mt.

3. Permissible FSI: 4.00

4. Permissible Height as per CAA NOC (18/09/2018): 69.52 meters

5. Built-Up Area: 22,000 sq. mt.

6. Lease Period: 80 years

7. Usage: New Administrative Building for NSE (Commercial)

8. Lease Premium: ₹757.90 Crore

The allotted plot has the potential to accommodate additional built-up area beyond the 4.00 FSI limit. As per the Government of Maharashtra’s notification dated July 19, 2024, NSE may avail of additional built-up area by paying the requisite premium to MMRDA.

Official letter to NSE

Deputy Chief Minister, Urban Development Minister, and Chairman of MMRDA approved the Commissioner’s proposal for the allotment of Plot No. C-82, subject to post facto approval from the Authority. Following this approval, MMRDA issued an official offer letter to NSE on March 7, 2025.

Subsequently The allocation of this additional space will enhance NSE’s operational efficiency and contribute to the commercial development of BKC. By facilitating the establishment of a new administrative building, this move reinforces BKC’s standing as a premier financial and commercial hub.

CM Devendra Fadnavis’ statement

While commenting on the policy, Devendra Fadnavis, Chief Minister of Maharashtra, said: “This decision reflects Maharashtra’s commitment to fostering financial growth and infrastructure development. By enabling NSE to expand its footprint in Bandra-Kurla Complex, we are reinforcing Mumbai’s position as the financial capital of India and ensuring a conducive business environment for key institutions.”

Dy CM Eknath Shinde’s statement

Eknath Shinde, Dy. Chief Minister of Maharashtra & Chairman, MMRDA, stated: The allotment of Plot C-82 to NSE is part of MMRDA’s efforts to strengthen BKC as a key financial hub. This step will boost commercial growth, support NSE’s expansion, and contribute to Mumbai’s economic development.”

Dr. Sanjay Mukherjee, Metropolitan Commissioner, MMRDA, said: “MMRDA is focused on developing Mumbai’s commercial infrastructure. The allotment of Plot C-82 to NSE will support the exchange’s expansion and strengthen BKC as a top business district.”