Schloss Bangalore Receives MMRDA Allotment for New Luxury Hotel Development in BKC

A consortium led by Schloss Bangalore The Leela has been allocated a commercial plot in Mumbai's Bandra-Kurla Complex by the Mumbai Metropolitan Region Development Authority (MMRDA). This plot will host a mixed-use development, featuring a 250-key luxury hotel, as per the company's regulatory filing.

Representative image

The consortium, which includes Arliga Ecospace Business Park Pvt Ltd and Schloss Chanakya Pvt Ltd, has secured an 80-year lease for this commercial plot. The area of the plot is 8,411.88 square metres, with a permissible built-up area of 33,647.52 square metres, subject to demarcation and site conditions.

Lease Payment Details

The total lease premium for the plot amounts to Rs 1,302.15 crore. Of this amount, 25 per cent is due within two months of the allotment offer, while the remaining 75 per cent must be paid within ten months thereafter. The company stated that possession of the plot will be granted once the full lease premium is paid.

Schloss Bangalore The Leela had submitted a binding bid to MMRDA for leasing this land in the BKC complex. "We were the highest bidder for this lease, based on the evaluation of the financial bid conducted by MMRDA on April 4, 2025," Schloss Bangalore said.

With inputs from PTI