Mumbai's BKC to Witness Luxury Transformation with New Hotel, Residences, and Commercial Spaces
L&T Realty and Valour Estate have partnered to co-develop a massive project in Bandra-Kurla Complex, Mumbai, featuring a five-star hotel, luxury residences, and commercial spaces.
Bandra Kurla ComplexMumbaiLuxury HotelLuxury ResidencesCommercial SpacesLt RealtyValour EstateReal Estate MumbaiJul 29, 2024
With a total development potential of over 7.5 million square feet, the project will be split between the two companies. L&T Realty will hold 58% of the project, while Valour Estate will hold 42%. The luxury hotel, which will be fully owned by Valour Estate, is expected to be operated by an international brand for a period of 30 years.
The project's land allocation includes 3.2 million square feet for rehabilitation, which will provide new homes for around 5,500 families living in slums. Another 3.75 million square feet will be available for free sale, which can be sold or leased at market rates. The remaining 2.25 million square feet will be used for retail, commercial, and luxury housing.
The entire project is expected to be completed in 5-6 years, with the land clearance and approval process taking around 12-18 months. This project marks a significant milestone in the redevelopment of BKC, which is fast becoming a hub for luxury living and commercial activities.
information on the companies involved L&T Realty is a leading real estate developer in India, known for its high-quality projects and timely delivery. Valour Estate, on the other hand, is a boutique real estate developer with a focus on strategic partnerships and luxury projects. The company has formed partnerships with several leading developers, including Adani Realty, Prestige Estates Projects, Godrej Properties, and RMZ Corp.
Frequently Asked Questions
What is the value of the project?
The project is valued at over INR 20,000 crore.
What is the location of the project?
The project is located in Bandra-Kurla Complex (BKC) area of Mumbai, near the new Bombay High Court building.
What is the development potential of the project?
The project has a total development potential of over 7.5 million square feet.
How will the land be allocated?
The land allocation includes 3.2 million square feet for rehabilitation, 3.75 million square feet for free sale, and 2.25 million square feet for retail, commercial, and luxury housing.
What is the expected completion timeline for the project?
The entire project is expected to be completed in 5-6 years.
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