Leela BKC Holdings Registers 80-Year Lease for Mumbai BKC Plot at Rs 1,302 Crore Premium
The Leela-led venture has formally registered an 80-year lease for a 90,537 sq ft BKC plot, where a 250-room hotel and office development is planned.
- The 90,537 sq ft plot is located in G Block of Mumbai’s Bandra-Kurla Complex.
- The 80-year lease carries a premium of Rs 1,302.16 crore.
- A 250-room hotel is planned on the site, with opening targeted for 2030.
Mumbai: Leela BKC Holdings Private Limited has registered an 80-year lease for a prime plot in Mumbai’s Bandra-Kurla Complex (BKC) for a premium of Rs 1,302.16 crore. The lease registration took place on September 11, 2026, following the Mumbai Metropolitan Region Development Authority’s (MMRDA) allotment of the property to a consortium led by The Leela in June 2025.
The property, identified as Plot C-80 in BKC’s G Block, spans 8,411.88 square metres, or approximately 90,537 sq ft. Registration records also show stamp duty of Rs 58.60 crore and a separately recorded rent agreement value of Rs 1,171.94 crore. The lease documentation was adjudicated by the Stamp Collector’s office in Borivali on September 10.
The plot permits a built-up area of 33,647.52 square metres, equivalent to four times the plot’s area. The Leela had disclosed the same development potential and lease premium when the allotment was announced in 2025.
The plot was bid for by a consortium in February 2025, with MMRDA approving the allotment on June 2, 2025. The subsequent lease was registered in the name of Leela BKC Holdings, a joint venture equally owned by The Leela and an affiliate of Brookfield.
The partners have proposed a mixed-use development comprising a hotel and office space. The Leela had stated that it would own 50% of the planned hotel, while Brookfield would own the remaining hotel stake as well as the office business. The joint venture is also expected to seek regulatory approval for transferring the office business into a separate entity.
The Leela’s July 31, 2026 investor presentation said the Rs 1,302.16 crore lease premium had already been paid. It also indicated that design work was being finalised and preparations at the site had started.
The company has included a 250-room BKC hotel in its development pipeline and has set a target opening in calendar year 2030.
With the long-term lease now registered and the premium paid, the project can move further into the development phase. Design finalisation, site preparation and the required regulatory approvals will determine the next stages of the hotel and office project.
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