The Mumbai Metropolitan Region Development Authority (MMRDA) has granted an 80-year lease for a 90,537 sq ft plot in Bandra-Kurla Complex (BKC), Mumbai, to Leela BKC Holdings Private Limited, according to property registration details accessed by Liases Foras.
The leased property, Plot No. C-80 in G Block of BKC, Bandra East, measures 8,411.88 sq metres (90,537.17 sq ft). The plot is situated in the revenue village of Kole Kalyan.
The lease premium is ₹1,302.16 crore, according to the registration details.
The lease also gives the lessee the right to utilise a maximum permissible Floor Space Index (FSI) of 33,647.52 sq metres.
₹1,302 crore lease premium
The registration document records a total lease premium of ₹1,302.16 crore.
The document also mentions a rent agreement value of ₹1,171.94 crore.
A stamp duty of ₹58.60 crore was paid on the lease deed.
The lease deed was adjudicated on September 10, 2026, at the office of the Stamp Collector, Borivali.
Who are the parties?
The registration details identify Leela BKC Holdings Private Limited as the beneficiary/tenant under the lease.
Three other entities are listed as approving parties:
- Arliga Ecospaces Business Parks Private Limited
- Schloss Bangalore Limited, currently known as The Leela Palaces, Hotels and Resorts Limited
- Schloss Chanakya Private Limited
The document identifies the municipal corporation as the Mumbai Municipal Corporation.
What does the FSI provision mean?
The plot measures 8,411.88 sq metres, while the maximum permissible FSI mentioned in the document is 33,647.52 sq metres.
In simple terms, FSI determines how much floor area can be constructed on a plot, subject to applicable development rules and approvals. The FSI figure in this lease is therefore substantially higher than the land area itself.
BKC land continues to command a premium
The transaction involves a sizeable parcel in BKC, one of Mumbai’s key commercial districts. For Leela BKC Holdings, the deal provides control of the 8,411.88 sq metre parcel for the duration of the lease, subject to the terms and conditions of the registered lease deed and applicable approvals.
Key details
Location: Plot C-80, G Block, BKC, Bandra East, Mumbai
Area: 8,411.88 sq metres / 90,537.17 sq ft
Lease period: 80 years
Lease premium: ₹1,302.16 crore
Maximum permissible FSI: 33,647.52 sq metres
Stamp duty: ₹58.60 crore
Registration date: September 11, 2026
Revenue village: Kole Kalyan
