NPCI to Construct 16-Storey Global Headquarters in BKC After ₹829 Crore Land Purchase
In a significant move for the digital payments landscape, NPCI has acquired a prime 1.5-acre site in Mumbai's bustling BKC for ₹829.43 crore from MMRDA.
The National Payments Corporation of India (NPCI) has acquired a prime land parcel in Mumbai’s business district, Bandra-Kurla Complex (BKC), from the Mumbai Metropolitan Region Development Authority (MMRDA) for ₹829.43 crore to set up its headquarters. The transaction, finalised on June 18, grants NPCI an 80-year lease for two amalgamated plots in G-Block of the business district. The total plot measures nearly 1.5 acres, with a permissible built-up area of around 2,59,000 sq ft.
The deal is among the key land transactions in BKC and is expected to influence the financial district’s real estate landscape, particularly in terms of future pricing trends and development strategies. NPCI, the umbrella organisation for retail payment systems in India, has paid the entire lease premium to MMRDA, as per documents accessed through real estate data analytics platform Propstack.
NPCI CEO Dilip Asbe recently said at an industry event that the organisation is setting up a research and development and experience centre in Mumbai, with a capacity of 5,000 people, as part of its global headquarters. He added that the move aligns with NPCI’s goal of accelerating innovation in digital payments and expanding its global collaborations, noting that more than 70 countries have visited the corporation’s office in the past four to five years.
According to a resolution of the NPCI’s board, the organisation plans to construct a 16-storey office on the site. The proposed building is expected to offer around 5,00,000 sq ft of built-up space and will include four to five levels of basement parking. This development will feature a sprawling 2,59,000 sq ft office space, set to reshape the dynamics of the financial district.
The Bandra-Kurla Complex (BKC) is a major financial district in Mumbai, known for its high-profile corporate offices and financial institutions. The acquisition by NPCI is a significant step towards enhancing the digital payments ecosystem in India and positioning BKC as a hub for financial innovation.
