Mumbai: The National Payments Corporation of India (NPCI) has secured a 1.5-acre land parcel in Mumbai’s Bandra-Kurla Complex (BKC) from the Mumbai Metropolitan Region Development Authority (MMRDA) for Rs 829.43 crore, with plans to construct its new headquarters, as per property registration documents sourced by Propstack.
The deal involves an 80-year lease agreement for amalgamated plots C-44 and C-48 located in G Block of BKC, one of India’s most premium commercial districts. As per the lease terms, NPCI is permitted to build a maximum of 24,076.4 square metres (approximately 2.59 lakh sq ft) of built-up area.
NPCI plans to develop a 16-storey office building, which will include four to five levels of basement parking, according to a board resolution cited by Propstack. The total planned built-up area for the new headquarters is estimated at around 5 lakh sq ft, significantly higher than what the current plot allows.
To achieve this additional development potential, NPCI may need to purchase extra Floor Space Index (FSI), which allows vertical expansion beyond the current permissible limit.
This high-value transaction further reinforces the rising commercial value of BKC, where space continues to be in high demand from banks, financial institutions, and multinational corporations. The move also marks a major milestone for NPCI, the umbrella organization for operating retail payments and settlement systems in India, as it sets up a dedicated headquarters in Mumbai’s financial hub.