NPCI Buys Land in BKC for Rs 8.29 Billion HQ

10 Jul 2025 CW Team

The National Payments Corporation of India (NPCI) has acquired a 1.5-acre land parcel from the Mumbai Metropolitan Region Development Authority (MMRDA) in Mumbai’s Bandra-Kurla Complex (BKC) for Rs 8.29 billion to establish its new headquarters, according to property registration documents accessed by Propstack.

NPCI has signed an 80-year lease agreement with MMRDA for amalgamated plots C-44 and C-48 in G Block of BKC, India’s most premium commercial district. The lease permits construction of a maximum built-up area of 24,076.4 square metres (around 259,000 square feet). However, NPCI plans to build a 16-storey office tower with a total built-up area of approximately 500,000 square feet, which may require the purchase of additional Floor Space Index (FSI).

The office tower will also include four to five levels of basement parking. According to Propstack, NPCI submitted a formal request to MMRDA in August 2024 seeking land allotment within BKC.

As part of its global expansion strategy, NPCI also plans to establish a research and development centre within the same complex. Media reports earlier this year quoted NPCI CEO Dilip Asbe stating that the new R&D hub will accommodate around 5,000 personnel.

According to the Free Press Journal, the MMRDA granted administrative approval for the NPCI headquarters project in September 2024. The decision aligns with MMRDA’s broader vision of positioning the Mumbai Metropolitan Region as a global economic centre. The Authority has also approved the formation of a Project Implementation Unit and a Business Development Cell to oversee the execution of the regional economic master plan.

BKC is Mumbai’s central business district and a prominent hub for the banking, financial services, and insurance (BFSI) sector, hosting several Fortune 500 companies.

Infrastructure Energy

09 Mar 2026

BMW Industries partners with IOCL for PNG supply at Bokaro plant

BMW Industries has entered into a strategic partnership with Indian Oil Corporation (IOCL) for the supply of Piped Natural Gas (PNG), reinforcing its commitment to adopting cleaner and more efficient energy sources for its operations.The agreement was signed at the Eastern Region Pipelines (ERPL) headquarters in Kolkata. The partnership is expected to support the company’s upcoming manufacturing facility in Bokaro by facilitating the use of natural gas as a primary energy source.According to the company, the adoption of PNG will help enhance operational efficiency while also contributing to ..

Bombay Realty Secures RERA for Three ICC Tower in South Mumbai

Bombay Realty, the real estate arm of Bombay Dyeing and part of the Wadia Group, has received Real Estate Regulatory Authority (RERA) certification for Three ICC – Wing A, the latest luxury residential tower at Island City Center in Mumbai’s Dadar.The RERA registration marks a key milestone in the development timeline and reinforces the company’s focus on regulatory transparency, timely project delivery, and high construction standards.Following the success of One ICC and Two ICC, the upcoming Three ICC tower represents the next phase of the Island City Center development. The project ai..

Flender launches India’s largest wind gearbox test rig in Walajabad

Flender has inaugurated a 13.5 MW wind turbine gearbox test rig at its Walajabad facility near Chennai, marking the largest installation of its kind in India. The new facility is expected to strengthen the company’s manufacturing and testing capabilities while supporting the growing demands of the wind power sector in both domestic and global markets.The test rig was inaugurated on March 5 in the presence of Andreas Evertz, Group CEO, Flender; Lars Wiegemann, Vice President Wind Gears, Flender; and Vinod Shetty, CEO, Flender India, along with key industry customers and stakeholders.The insta..