Newly listed Schloss Bangalore has taken a significant stride in expanding its footprint in India’s premium commercial real estate market. The company, a part of The Leela group, has secured a prestigious 80-year lease for a commercial plot in Mumbai’s Bandra Kurla Complex (BKC) valued at ₹1,302 crore. Awarded by the Mumbai Metropolitan Region Development Authority (MMRDA), this deal marks a milestone for the company as it plans to develop a landmark mixed-use project in one of India’s most sought-after business districts.
Schloss Bangalore Limited, formerly Schloss Bangalore Private Limited and part of The Leela group, has been awarded a long-term commercial lease for a prime plot in Mumbai’s Bandra Kurla Complex (BKC). The Mumbai Metropolitan Region Development Authority (MMRDA) allotted Plot No. C-80 in G-Block of BKC to a consortium led by Schloss Bangalore.
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The commercial lease has been awarded for a period of 80 years with a total lease premium of ₹1,302.15 crore. The plot spans 8,411.88 square metres with a permissible built-up area of 33,647.52 square metres. The payment terms include 25% of the premium due within two months from the allotment offer, and the remaining 75% within the next ten months.
The consortium plans to develop a mixed-use project that includes:
The development is subject to detailed design and planning, and actual areas may vary. The consortium also intends to secure an equivalent additional built-up area from MMRDA under a scheme valid until July 2026.
The awarded plot will be developed by a consortium in which Schloss Bangalore (along with its wholly owned subsidiary, Schloss Chanakya Private Limited) will hold a 50% stake. The remaining 50% will be held by Arliga Ecospace Business Park Private Limited, an affiliate of Brookfield Asset Management Ltd.
Share price of Schloss Bangalore is up flat at ₹434.60 as of 10:55 AM on June 4, following the announcement of this high-value lease deal.
This strategic lease acquisition positions Schloss Bangalore to play a more prominent role in India’s hospitality and commercial real estate landscape. With a prime location, credible consortium partners, and a mixed-use development vision, the company’s move could have long-term implications for its business visibility and operational scale. Investors and industry watchers will now be keenly tracking the progress of this marquee project in BKC.
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Published on: Jun 4, 2025, 1:50 PM IST
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