by THO
The National Payments Corporation of India (NPCI) plans to establish a research and development (R&D) center at Bandra Kurla Complex (BKC) in Mumbai, India’s most expensive commercial district, as part of its global expansion efforts, NPCI’s CEO Dilip Asbe was quoted as saying by a media report.
According to a report published in Moneycontrol, the Mumbai Metropolitan Region Development Authority (MMRDA) has allocated a plot to NPCI in Mumbai’s BKC. The company is building about a 5000 capacity R and D centre, he was quoted as saying.
According to another report published in the Free Press Journal, the MMRDA granted administrative approval in September 2024 for the construction of an office for the NPCI at BKC.
As per the Free Press Journal report, the decision was taken as part of the broader vision to develop the Mumbai Metropolitan Region into a global economic hub. The Authority gave administrative approval for the formation of a dedicated ‘Project Implementation Unit’ and a ‘Business Development Cell’ to execute the region’s economic Master Plan.
Also Read: Mumbai real estate: Property registrations down 4% in February, stamp duty revenue stable
All about the BKC real estate market
BKC is Mumbai’s central business district (CBD) and a prime hub for the Banking and Financial Services Industry (BFSI) sector and Fortune 500 companies.
It is one of the costliest commercial districts in India. Several companies such as Apple, Netflix, Facebook, Amazon, the National Stock Exchange, Standard Chartered Bank, WeWork, CISCO, Pfizer, Spotify, and Blackstone have offices there. BKC also houses government institutions like GST, the Reserve Bank of India, the Income Tax Department, and the Family Court. The US Consulate also has a sprawling campus inside BKC.
Recently, Google India Private Limited and Google Cloud India Private Limited renewed their office space leases in Mumbai’s Bandra-Kurla Complex (BKC), India’s most expensive commercial district, for a rent of ₹304 crore over five years, according to property registration documents accessed by SquareYards.
Also Read: Google India renews 5-year office lease in Mumbai’s BKC for a rent of ₹304 crore
Apple India Pvt Ltd has also taken up 6,526 sq ft of space on rent in Bandra Kurla Complex (BKC) in Mumbai at a monthly rental of ₹738 per sq ft, according to property registration documents accessed by Proptstack.com
