NSDL to acquire office space in BKC

13 Oct 2023 CW Team

National Securities Depository Limited (NSDL) has successfully secured a sprawling 68,000 square feet office space in Mumbai's prestigious Bandra-Kurla Complex (BKC) from IDFC First Bank, in a transaction amounting to approximately Rs 198 crore. This strategic acquisition marks a significant move for NSDL, as the property, situated within Naman Chambers, is poised to become the company's new headquarters. It is expected that NSDL will occupy this space by January-February 2024, following a four-month period of fit-out and preparations.

People familiar with the deal have confirmed the development, highlighting NSDL's intentions to consolidate and establish its presence in this prime location within BKC, a prominent commercial hub in Mumbai. The move aligns with NSDL's growth and expansion plans.

IDFC First Bank also commented on the decision, stating, "This property, located in Naman Chambers, will serve as NSDL's new headquarters, with a move-in date expected by January-February 2024 after a 4-month fit-out period." The bank is streamlining its operations in proximity to its corporate office situated at IDFC FIRST Bank Tower (The Square), C-61, G Block, BKC, Mumbai.

The office space transaction has been officially confirmed by NSDL, with contracts executed between NSDL and IDFC BANK. Colliers, the transaction advisor for this significant deal, refrained from providing further comments or details. This acquisition represents a strategic and significant step for NSDL as it solidifies its presence in Mumbai's bustling business landscape.

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