NPCI Secures Prime Land in Mumbai for New Headquarters

The National Payments Corporation of India (NPCI) has acquired a 1.5-acre land parcel in the Bandra-Kurla Complex (BKC) in Mumbai from the Mumbai Metropolitan Region Development Authority (MMRDA) for Rs 829.43 crore. The site will be used to develop a 16-storey office building to house NPCI's new headquarters and a large R&D center.

NpciMmrdaBandrakurla ComplexMumbaiHeadquartersReal Estate MumbaiJul 07, 2025

NPCI Secures Prime Land in Mumbai for New Headquarters
Real Estate Mumbai:The National Payments Corporation of India (NPCI) has made a significant move by acquiring a 1.5-acre land parcel from the Mumbai Metropolitan Region Development Authority (MMRDA) for Rs 829.43 crore. This strategic acquisition is aimed at establishing NPCI's new headquarters in the Bandra-Kurla Complex (BKC) in Mumbai, a prominent business district.

Property registration documents accessed by Propstack reveal that the 6,000 sq. mtrs. site comprises amalgamated plots C-44 and C-48 in G Block. NPCI has signed an 80-year lease agreement with MMRDA and plans to develop a 16-storey office building on the site, with a total built-up area of approximately 5 lakh sq ft. The development also includes four to five levels of basement parking, ensuring ample space for employees and visitors.

However, the permissible built-up area currently stands at 24,076.4 sq. mtrs. (approx. 2.59 lakh sq. ft.), which means NPCI may need to acquire additional Floor Space Index (FSI) to achieve its targeted development. The new headquarters is expected to host a large research and development (R&D) center as part of NPCI’s global expansion strategy. According to NPCI CEO Dilip Asbe, the facility will accommodate around 5,000 personnel, reflecting the organization's commitment to growth and innovation.

NPCI had first requested land allocation in BKC from MMRDA in August 2024. This acquisition marks a significant milestone in NPCI's journey, solidifying its position as a leading player in the financial technology sector. The Bandra-Kurla Complex, known for its high concentration of corporate offices and financial institutions, provides an ideal location for NPCI's new headquarters. The strategic location is expected to enhance NPCI's operational efficiency and attract top talent, further bolstering its research and development capabilities.

The development of the new headquarters is not just a physical expansion but also a symbol of NPCI's commitment to advancing the digital payment ecosystem in India and beyond. With the growing importance of digital payments and the increasing demand for innovative financial solutions, NPCI's new facility will play a crucial role in driving the organization's future growth and contributing to the broader economic development of the region.

In conclusion, the acquisition of the 1.5-acre land parcel in BKC by NPCI represents a significant step forward for the organization. The new headquarters, complete with a state-of-the-art R&D center, will serve as a hub for innovation and collaboration, further cementing NPCI's position as a leader in the financial technology sector.

Frequently Asked Questions

What is NPCI?

NPCI, or the National Payments Corporation of India, is a non-profit organization that operates retail payments and settlement systems in India. It is responsible for initiatives like UPI, RuPay, and others, aimed at promoting digital payments.

Why did NPCI acquire land in BKC?

NPCI acquired land in the Bandra-Kurla Complex (BKC) to establish its new headquarters and a large R&D center. This strategic move is part of NPCI's global expansion strategy and aims to enhance its operational efficiency and innovation capabilities.

How much did NPCI pay for the land?

NPCI paid Rs 829.43 crore for the 1.5-acre land parcel in BKC.

What are the key features of the new headquarters?

The new headquarters will be a 16-storey office building with a total built-up area of approximately 5 lakh sq ft. It will include four to five levels of basement parking and a large R&D center.

When did NPCI first request land allocation in BKC?

NPCI first requested land allocation in BKC from MMRDA in August 2024.

Related News Articles

Waqf Amendment Bill 2024: How Government Properties Were Declared Waqf, and What's Changing
Real Estate Mumbai

Waqf Amendment Bill 2024: How Government Properties Were Declared Waqf, and What's Changing

Minority Affairs Minister Kiren Rijiju highlights shocking cases of government properties being declared Waqf, and proposes amendments to the Waqf Act.

August 8, 2024
Read Article
The Shifting Sands of Capital Gains Taxation: A Threat to Investor Confidence
Real Estate

The Shifting Sands of Capital Gains Taxation: A Threat to Investor Confidence

The recent changes in capital gains tax framework are set to affect investors' confidence, with the removal of indexation benefits and a hike in long-term capital gains tax rate. Will this lead to a decline in investment and economic growth?

August 13, 2024
Read Article
The Rise of the Sassoons: From Bombay to China's Richest Family
Real Estate

The Rise of the Sassoons: From Bombay to China's Richest Family

In the 1920s, as his family’s Chinese real estate empire grew to new heights, Victor Sassoon commissioned the Sassoon House, which would house some of the most luxurious amenities of the time.

November 9, 2024
Read Article
Dubai Rental Market Sees Significant Surge in 2024
real estate news

Dubai Rental Market Sees Significant Surge in 2024

The real estate market in Dubai is experiencing a significant surge in 2024, driven by high demand and a growing professional population. This organic growth is further fueled by rising property values and new developments, with a projected 6.2% increase

November 13, 2024
Read Article
Fueling Delhi-NCR's Growth: The Impact of Dwarka Expressway on Real Estate
Real Estate Mumbai

Fueling Delhi-NCR's Growth: The Impact of Dwarka Expressway on Real Estate

The Dwarka Expressway, a major infrastructure project in Delhi-NCR, is set to revolutionize the real estate landscape. This article explores how the expressway is becoming a key driver for real estate investment due to a confluence of factors including im

December 7, 2024
Read Article
India's Wealth Gap Highlighted as Luxury Home Sales Skyrocket by 86%
Real Estate Pune

India's Wealth Gap Highlighted as Luxury Home Sales Skyrocket by 86%

The surge in luxury home sales in major Indian cities, including Delhi, Mumbai, Bengaluru, Chennai, Hyderabad, Pune, and Kolkata, highlights the growing wealth gap in the country. According to JLL, housing sales in India's top 7 cities are estimated to re

January 16, 2025
Read Article