The project is part of the Maharashtra government’s broader vision under the State Housing Policy 2025, aimed at providing safe, affordable and inclusive housing for all citizens. The initiative has been conceptualised under the leadership of Chief Minister Devendra Fadnavis and Deputy Chief Minister Eknath Shinde.

Pilot Project in Andheri

The selected cluster is located along C.D. Barfiwala Road in Andheri (West), covering a total area of 101.36 acres. Out of this, 61.40 acres are currently occupied by slums.

The site has been identified as a pilot cluster redevelopment project, marking a key step in implementing the government resolution dated November 13, 2025, which approved cluster redevelopment across Mumbai.

Scale of Rehabilitation

Under the project:

• 28,061 rehabilitation units will be constructed
• Around 14,000 existing slum dwellers will be rehabilitated
• An additional 14,061 housing units will be created

The project aims not only to rehouse existing residents but also to generate additional housing stock.

Planned Urban Infrastructure

The redevelopment plan includes:

• Open spaces
• Playgrounds
• Schools
• Healthcare facilities
• Other civic and social infrastructure

The goal is to create a planned, integrated urban neighbourhood rather than standalone rehabilitation buildings.

Challenges and Delays

The project area, located near the airport, has faced long-standing delays due to:

• Height restrictions linked to proximity to the airport
• Extremely dense slum clusters
• Fragmented redevelopment efforts under earlier schemes

These factors had stalled rehabilitation for thousands of families, with some residents also facing delays in receiving transit rent.

Bidding Process and Developer Interest

The Slum Rehabilitation Authority invited bids on April 8, 2026, to appoint a Construction and Development Agency (C&DA) for the project.

Technical bids were opened on June 4, 2026. The project has attracted participation from major private developers, including:

• Shapoorji Pallonji Real Estate
• Reliance 4IR Realty Development Limited
• JSW Realty and Infrastructure Pvt. Ltd.

The proposals are currently under technical evaluation, following which financial bids will be opened after approval from a high-level committee.

Transparent Tendering Process

According to SRA CEO Dr. Mahendra Kalyankar, the authority has, for the first time, implemented a fully transparent and competitive bidding system, moving away from earlier practices such as Letter of Intent (LOI) trading.

The new process aims to ensure fair competition and improved project execution.

Larger Slum Redevelopment Push

Beyond this pilot, SRA has identified 18 additional cluster areas across Mumbai for similar redevelopment.

These initiatives are expected to:

• Revive stalled or unviable slum rehabilitation schemes
• Enable rehabilitation of approximately 6 to 7 lakh slum dwellers

Policy Context

The project is part of the government’s larger “Slum-Free Mumbai” vision, aligned with the State Housing Policy 2025.

The policy focuses on:

• Affordable housing
• Planned redevelopment
• Improved urban infrastructure
• Inclusive city development

The Andheri cluster project is expected to serve as a model for future large-scale redevelopment efforts across Mumbai.

Also Read: Mumbai Banega Dubai

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The tenements are located in Towers 1, 2 and 3 of Rehabilitation Building No. 1, which have recently received the Occupancy Certificate. The allotment process will take place at the MHADA project office located on the ground floor of Tower No. 5 at Naigaon-Dadar.

The distribution of allotment letters will be carried out on working days between 11:00 a.m. and 6:00 p.m., excluding public holidays. Beneficiaries have been asked to remain present with required documents, including rehabilitation agreements, Aadhaar and PAN card copies, photographs and necessary undertakings.

According to the schedule, allotments will be distributed in the order of Tower Nos. 2, 1 and 3. The detailed timetable will be displayed at the distribution centre, following which beneficiaries will be able to take possession of their flats.

Project Details and Earlier Phase

The Naigaon redevelopment is part of the larger BDD Chawl redevelopment programme, now known as the Dr. Babasaheb Ambedkar BDD Complex. Earlier this year, on March 16, 2026, 864 tenements across five completed towers were handed over in the presence of Maharashtra Chief Minister Devendra Fadnavis and Deputy Chief Ministers Eknath Shinde and Sunetra Pawar.

Spread over 6.45 hectares, the Naigaon project includes 42 existing chawls housing 3,344 residential and non-residential tenants. The redevelopment is being implemented in two phases and will deliver 20 rehabilitation towers of 23 storeys each.

Rehabilitation Benefits

Eligible residents are being provided free-of-cost ownership homes of 500 sq. ft. carpet area in a 2-BHK configuration. These replace earlier chawl units measuring approximately 160 sq. ft.

Each apartment includes vitrified flooring, aluminium windows, granite kitchen platforms, branded plumbing fixtures and fire-safety systems. The buildings are constructed using earthquake-resistant technology and are equipped with passenger and fire lifts, CCTV surveillance, stilt parking and multi-level basement parking.

Residents have been given the option of transit accommodation or rental assistance. Under the scheme, both residential and non-residential occupants receive advance rent of ₹25,000 per month for 11 months during the construction phase.

Township and Infrastructure

The redevelopment is planned as an integrated township with supporting infrastructure, including a school building, welfare centre, sewage treatment plant, solar energy systems and rainwater harvesting.

MHADA has also stated that it will maintain common amenities and infrastructure of the rehabilitated buildings for a period of 12 years after possession.

Larger BDD Redevelopment Programme

The broader BDD Chawl redevelopment programme spans approximately 86 acres across Worli, N. M. Joshi Marg–Parel and Naigaon.

• Worli: 34 rehabilitation towers for 9,689 residents
• N.M. Joshi Marg–Parel: 14 buildings for 2,560 occupants
• Naigaon: 20 towers for 3,344 occupants

In total, the programme covers 207 chawls and benefits around 15,593 residents.

The project is being implemented by MHADA through its Mumbai Housing and Area Development Board, under the leadership of Vice President and CEO Sanjeev Jaiswal and Mumbai Board Chief Officer Milind Borikar.

Also Read: Corona impact: Many BDD tenants ready for transit

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In a major relief for homebuyers, the Maharashtra Government has announced a 10% direct reduction in prices of CIDCO homes across Navi Mumbai, making housing significantly more affordable for middle-class and lower-income families.

Alongside the price cut, CIDCO will launch a mega housing scheme of 19,000 homes on December 14, 2025, covering multiple prime nodes of Navi Mumbai. The decision is expected to make home ownership easier and revive strong interest in government-backed housing schemes.

10% Direct Price Cut Across All CIDCO Housing Categories

The state government has approved a flat 10% reduction in prices of CIDCO homes across various income categories.

As a result:

• Homes will now be available at lower rates than before
• The reduction applies to both existing beneficiaries and future applicants
• The move significantly improves affordability in Navi Mumbai, one of the fastest-growing urban regions in Maharashtra

19,000 Homes to Be Offered Under CIDCO Mega Housing Scheme

CIDCO has announced that a mega housing scheme comprising 19,000 homes will be launched on December 14, 2025.

Key Locations Covered:

• Vashi
• Bamandongri
• Kharghar
• Khar Kopar
• Taloja
• Mansarovar
• Khandeshwar
• Panvel
• Kalamboli

Registration for the scheme has already begun, and interested citizens can apply through www.cidcohomes.com.

Relief for ‘My Preferred CIDCO Home’ Scheme Beneficiaries

The government decision also benefits applicants of the “My Preferred CIDCO Home” scheme, launched on October 12, 2024.

• Prices of homes in all nine nodes under this scheme have also been reduced by 10%
• The revised prices will apply to:
  • Existing beneficiaries
  • New applicants

This ensures parity and fairness across CIDCO’s housing offerings.

10-Day Window for Applicants Who Had Surrendered Homes

CIDCO has also announced relief for applicants who:

• Were successful in the draw held on February 19, 2025
• Later surrendered their allotted homes

Such applicants will now get another opportunity to participate in the scheme under the revised pricing.

• A 10-day window has been provided to confirm allotment
• Applicants must complete the process via https://cidcohomes.com

Major Advantage for EWS and LIG Buyers

The decision is particularly beneficial for:

• Economically Weaker Section (EWS)
• Lower Income Group (LIG) buyers

EWS buyers will receive:

• 10% reduced home price
• ₹2.5 lakh subsidy under Pradhan Mantri Awas Yojana (PMAY)

This combined benefit will substantially lower the overall financial burden and make home ownership more achievable.

What the Leaders Said

CM Devendra Fadnavis

Calling the decision people-centric, Chief Minister Devendra Fadnavis said:

“The decision to reduce CIDCO home prices by 10% strengthens the dream of home ownership for the common man. It offers major relief to lakhs of applicants interested in CIDCO housing schemes. The state government is committed to ensuring that every citizen can own a home in the world-class city of Navi Mumbai.”

Deputy CM Eknath Shinde

Deputy Chief Minister Eknath Shinde said the move aligns with national housing goals:

“The 10% price reduction in CIDCO homes is consistent with inclusive and affordable housing objectives. It reinforces Prime Minister Narendra Modi’s vision of ‘Housing for All’ and ensures quality homes at affordable prices for citizens.”

CIDCO VC & MD Vijay Singhal

CIDCO Vice Chairman and Managing Director Vijay Singhal confirmed that the benefit extends across schemes:

“Due to this important government decision, home prices under the ‘My Preferred CIDCO Home’ scheme across Bamandongri, Kalamboli, Khar Kopar, Kharghar, Khandeshwar, Mansarovar, Panvel, Vashi, and Taloja have also been reduced by 10%. The revised prices apply to both existing beneficiaries and future applicants.”

A Strong Push for Affordable Urban Housing

With:

• Direct price reduction
• PMAY subsidy support
• Revival of surrendered allotments
• Large-scale housing supply

the Maharashtra government’s decision is expected to significantly boost affordable housing uptake in Navi Mumbai and provide long-term relief to aspiring homeowners.

Also Read: CIDCO lottery for 5,730 homes announced

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Shinde, who holds the urban development and housing portfolios, highlighted that while some pagdi buildings have been redeveloped, many have deteriorated or collapsed, leaving nearly 13,000 structures in dire need of reconstruction. “The redevelopment of pagdi chawls has seen poor response due to legal disputes and structural complexities. Landlords often complain they don’t get fair compensation because of tenants’ extensive rights under the Maharashtra Rent Control Act,” Shinde said.

The new policy addresses these pain points head-on, paving the way for safer, modern housing and unlocking prime real estate potential in congested areas like South Mumbai and Dadar. Key features include:

• Balanced FSI Allocation: Tenants will receive Floor Space Index (FSI) equal to their current occupied area, landlords get FSI based on land ownership, and economically weaker pagdi holders will get incentive FSI for cost-free reconstruction.
• TDR Flexibility: If height restrictions or other limits prevent full FSI utilization, the balance will be provided as Transferable Development Rights (TDR), making projects more viable for developers.
• Fast-Track Dispute Resolution: With over 28,000 pending cases between tenants and landlords in small-cause courts, the government will seek High Court approval to establish additional fast-track courts, aiming to resolve all disputes within three years.
• Ownership for Residents: Once redeveloped, lakhs of pagdi tenants will transition to ownership-based homes, ending decades of uncertainty and boosting property values.

This initiative builds on existing options like Regulations 33(7) and 33(9) but offers a fresh alternative for stalled projects. Shinde emphasized that the policy will prevent building collapses, save lives, and provide a much-needed push to Mumbai’s housing market. “This will finally give lakhs of Mumbai residents living in pagdi chawls ownership homes while ensuring fair outcomes for all stakeholders,” he added.

Real estate experts are optimistic, predicting a surge in redevelopment activity that could transform dilapidated chawls into high-rise complexes with better amenities. The government plans to notify the new rules soon, with implementation expected to begin in early 2026. Developers and residents are advised to monitor updates from the Urban Development Department for guidelines on applying.

As Mumbai gears up for BMC elections, this announcement underscores the Mahayuti government’s focus on affordable housing and urban renewal. Stay tuned to our website for more updates on Mumbai real estate policies and redevelopment opportunities.

Also Read: Maharashtra Govt Fast-Tracks Redevelopment of Buildings on Mumbai’s Mill Lands

The post Maharashtra Govt to Launch New Policy for Redevelopment of Mumbai’s Pagdi Chawls: Eknath Shinde’s Big Announcement appeared first on Square Feat India.

The changes target residential and commercial buildings on mill lands, where existing rules under Regulation 35(7)(a) of the Development Control and Promotion Regulations (DCPR) 2034 lacked incentives, deterring owners and builders from initiating projects. “Many of these tenements are old and unsafe; redevelopment is crucial to ensure resident safety and unlock urban potential,” Shinde explained. The approved amendments under Section 37(1-KK) of the MRTP Act will provide additional FSI, making projects financially viable and encouraging participation.

This move is expected to benefit thousands of residents in areas like Parel and Worli, facilitating smoother rehabilitation and modern housing. The government has completed the statutory procedures, with notifications set to be issued soon. Shinde urged stakeholders to leverage these changes, aligning with ongoing efforts to amend rules for pagdi buildings and other legacy properties.

Real estate analysts predict a surge in mill land redevelopment, transforming these sites into mixed-use developments while preserving historical elements. This announcement comes amid preparations for BMC elections, signaling the Mahayuti government’s commitment to Mumbai’s urban renewal.

Also Read: ₹12 Lakh for Nearly 1,500 Sq. Mt Land in Goregaon: Bombay High Court Slams SRA’s ‘Draconian’ Land Grab

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Shinde, who also oversees the urban development and housing portfolios, emphasized that the scheme will provide substantial relief to more than 2.5 lakh families. Residents of these buildings have been paying double property tax, water bills, and sewerage charges, while facing challenges in securing home loans, reselling properties, and undertaking redevelopment projects. “This revised scheme is a game-changer for Mumbai’s housing landscape, ensuring compliance without punitive measures and fostering a more vibrant real estate market,” Shinde stated.

Key highlights of the amnesty scheme include:

• A 50% concession on premiums for additional or fungible built-up areas, calculated based on prevailing ready reckoner rates.
• No penalties for proposals submitted within the first six months; a 50% penalty applies for submissions between six months and one year.
• A dedicated mechanism allowing individual flat owners to obtain OCs independently, even if the entire building isn’t regularized.
• Extension of benefits to hospitals, schools, and other unauthorized structures, providing relief to essential sectors like health and education.

The Brihanmumbai Municipal Corporation (BMC) has been directed to implement a streamlined process for applications. Shinde noted that similar policies will be rolled out in other municipal areas across Maharashtra, with the Urban Development Department tasked to prepare a detailed report. This comes as part of the Mahayuti government’s broader efforts over the past three-and-a-half years to transform Mumbai’s urban infrastructure, prioritizing resident safety and encouraging the return of original families who had relocated due to these issues.

Real estate experts hail the announcement as a boost for Mumbai’s property market, potentially unlocking stalled transactions and redevelopment opportunities. With the scheme set to launch soon, residents are urged to prepare their proposals to capitalize on the initial penalty-free window.

Also Read: Govt Approves Land Acquisition for Parel’s K.K. Modi Wani Chawl Redevelopment After 25-Year Delay

The post Maharashtra Announces Revised OC Amnesty Scheme to Regularize 20,000 Unauthorized Buildings in Mumbai appeared first on Square Feat India.

This ambitious initiative aims to create a high-capacity underground mobility corridor that connects the Mumbai Coastal Road, Bandra-Kurla Complex (BKC), the Mumbai–Ahmedabad High-Speed Rail Station, and the Chhatrapati Shivaji Maharaj International Airport (CSMIA), while helping decongest the Western Express Highway and SV Road.
Once operational, the tunnel system will not only reduce congestion but also reclaim valuable urban space for citizens and improve overall travel efficiency across the city.

A Strategic Step Towards “Mumbai in Minutes”

Spanning over 70 km across three phases, the Integrated Tunnel Network will complement surface and metro systems to form a multi-layered transport grid. The project will be implemented in a phased manner, based on traffic requirements and future mobility demand.

Given Mumbai’s high density and limited land availability, underground mobility offers a sustainable way to expand capacity without disturbing existing surface infrastructure.

Project Implementation in Phases

Phase I: Worli Sea Link – BKC – Airport Loop (Approx. 16 km)

• Connects the Mumbai Coastal Road to BKC and CSMIA
• Integrates with the Mumbai–Ahmedabad Bullet Train Corridor
• Aims to ease congestion along WEH and SV Road

Phase II: East–West Connectivity (Approx. 10 km)

• Links Eastern Express Highway (EEH) and Western Express Highway (WEH)
• Designed to reduce cross-city congestion

Phase III: North–South Corridor (Approx. 44 km)

• Provides continuous underground connectivity across Mumbai
• Supports both passenger and freight movement

The Techno-Economic Feasibility Study and DPR for Phase I were approved by the Hon’ble Deputy Chief Minister and MMRDA Chairman on September 30, 2025. The tender process was initiated on October 10, with bids scheduled for opening on November 17, 2025.

Leaders Speak

Chief Minister, Devendra Fadnavis, said:

“Mumbai’s transformation into a global economic powerhouse depends on its ability to move people and goods efficiently. The tunnel network represents a major leap in that direction — integrating roads, metro, coastal, and underground systems. It will decongest key routes and make commuting across the city faster, safer, and smoother.”

Deputy Chief Minister & MMRDA Chairman, Eknath Shinde, added:

“This will be Mumbai’s third mode of mobility — beneath the surface. It marks our shift from linear to multi-layered transport planning. Integration with the Coastal Road, Metro, and Bullet Train will make ‘Mumbai in Minutes’ a reality.”

Dr. Sanjay Mukherjee, IAS, Metropolitan Commissioner, MMRDA, said:

“The tunnel network will redefine how Mumbai moves. It will ease surface congestion, improve east–west and north–south connectivity, and unlock space for citizens. The DPR will assess technical feasibility, environmental impact, and economic viability before phased execution begins.”

Towards a Smarter, Sustainable Mumbai

Once implemented, the Integrated Tunnel Road Network will function as Mumbai’s subterranean expressway, easing surface-level pressure, cutting emissions, and reducing travel time between major business and residential hubs — from South Mumbai to BKC to the Airport.

Together with the Coastal Road, Metro Network, and surface expressways, this project completes MMRDA’s tri-layered mobility vision — building a smarter, sustainable, and seamlessly connected Mumbai where every destination is just minutes away.

Also Read: MMRDA Sets Reserve Price at ₹1,629 Crore for 10 FSI Wadala Plot Lease Auction

The post MMRDA Begins DPR Work for Mumbai’s Integrated Tunnel Road Network — The City’s Third Mode of Mobility appeared first on Square Feat India.

The announcement was made by Deputy Chief Minister and Housing Minister Eknath Shinde at the MHADA Konkan Board computerized lottery draw held in Thane, where 5,354 tenements and 77 plots were allotted through a transparent digital process.

₹50 Lakh Crore Investment for 35 Lakh Homes

Maharashtra is targeting the construction of 35 lakh homes statewide in the next five years, fuelled by a ₹50 lakh crore investment pipeline through both public and private sector participation.

The state is also working towards the PM Awas Yojana (Urban) target of two crore homes, with an emphasis on housing for working women, senior citizens, and rental housing options to address urban housing demand.

Shinde highlighted that the Central Government’s GST reduction on housing has further lowered costs, offering relief to homebuyers and boosting construction momentum.

30 Lakh Homes in MMR by 2030

Under the MMR Growth Hub Plan, the government has set a goal of 30 lakh new homes in MMR by 2030, with MHADA directly or indirectly delivering about 8 lakh homes.

The massive response to the Konkan Board lottery — 1,58,424 applications for 5,354 homes — reflects rising public trust in MHADA’s transparent allotment systems, Shinde noted. He instructed MHADA to maintain quality standards and ensure projects are completed within stipulated timelines to meet this ambitious target.

Acceleration of Pending Redevelopment Projects

The government has directed MHADA, CIDCO, MMRDA, MIDC, and the Brihanmumbai Municipal Corporation (BMC) to focus on completing pending slum rehabilitation and redevelopment projects. This includes several long-delayed schemes that are now being fast-tracked under the revised housing policy.

Key redevelopment projects expected to contribute around two lakh homes in the next five years include:

• BDD Chawls
• Sindhi refugee buildings at Sion Koliwada
• Kamathipura redevelopment
• Abhyudaya Nagar (Kalachowki)
• Motilal Nagar (Goregaon)
• Siddharth Nagar (Patrachawl)
• Sardar Vallabhbhai Patel Nagar (Andheri)
• Bandra Reclamation
• Adarsh Nagar (Worli)
• Jogeshwari PMGP Poonam Nagar

These projects are expected to unlock large tracts of underutilized urban land, paving the way for affordable and mid-income housing.

Strong Track Record and Mill Worker Housing

MHADA Vice President and CEO Sanjeev Jaiswal highlighted that this was the fourth computerized lottery held by the Konkan Board in the last three years, allotting a total of 13,500 tenements during this period.

Across all regional boards — Pune, Nashik, Chhatrapati Sambhajinagar, and Nagpur — MHADA has allotted 41,500 tenements in the same timeframe.

Additionally, nearly 20,000 mill workers have already been allotted homes, and eligibility for around one lakh mill workers and their heirs has been finalized to speed up future allotments.

Also Read: RBI Monetary Policy – Can the Housing Market Absorb Another Hike?

The post 🏡 35 Lakh Homes, ₹50 Lakh Crore Investment: Maharashtra Unveils Massive Housing Push for MMR appeared first on Square Feat India.

Key Objectives of the Policy

Highlights Announced by Deputy CM Eknath Shinde

1. Inclusive & Affordable Housing for All

The policy covers:

• Economically Weaker Sections (EWS)
• Low-Income and Middle-Income Groups
• Senior citizens, women, students, industrial workers, journalists, disabled persons, and ex-servicemen

2. AI-Based State Housing Information Portal

A centralized platform using Artificial Intelligence to:

• Track housing supply and demand
• Geo-tag housing units
• Integrate data from MahaRERA, PM Gati Shakti, Mahabhulekh
• Ensure transparency and informed decision-making

3. Land Bank Development by 2026

• A state-wide land bank will be developed with the help of:
  • Revenue Department
  • Forest Department
  • MSRDC
  • MIDC
  • Water Resources Department

4. Walk-to-Work Housing Model

• Promote residential developments near employment zones
• Especially in MIDC areas where 10–30% of the land will be reserved for housing

5. Mandatory Inclusion in All Metropolitan Regions

• Not just cities with 10 lakh+ population, but all Metropolitan Region Development Authorities will be required to develop inclusive housing projects

Support for Self-Redevelopment

Slum Rehabilitation: Transparent & Tech-Driven

• Use of central government land for SRA (Slum Rehabilitation Authority) projects
• Joint planning with Central Govt. departments
• Real-time monitoring of projects using IT systems
• Improved transparency and accountability for all stakeholders

Cluster Development to Replace Failed SRA Projects

• Cluster redevelopment approach for areas with stagnant or delayed SRA projects
• New, capable developers to be selected through transparent bidding
• Strict timelines and accountability to eliminate irregularities

Environmentally Sustainable Housing

• Emphasis on green buildings and climate-adaptive designs
• Promotion of Global Housing Technology Challenge for:
  • Heat-resistance
  • Earthquake-resilience
  • Flood protection

Support from CSR & Knowledge Partners

Summary

With this comprehensive housing policy, the Maharashtra government aims not only to fulfill the dream of homeownership for lakhs of citizens, but also to catalyze economic growth, modernize urban living, and lead India toward a more inclusive real estate future.

Stay updated on housing news at www.SquareFeatIndia.com

Also Read: Seeking A Housing Loan? Read This New RBI Policy

The post Maharashtra’s Revolutionary Housing Policy 2025 Approved: 35 Lakh Homes, AI Portal, Focus on Slum Redevelopment appeared first on Square Feat India.

The decision to allot Plot No. C-82 in BKC’s G-Block was granted post facto approval during the 159th meeting of the MMRDA Authority. The move came in response to NSE’s request dated October 11, 2024, seeking additional land to expand its operations and accommodate a built-up area of approximately 4 to 5 lakh square feet.

Plot Details:

• Plot Number: C-82
• Plot Area: 5,500 sq. meters
• Permissible FSI: 4.00
• Permissible Height: 69.52 meters (as per CAA NOC dated 18/09/2018)
• Built-Up Area: 22,000 sq. meters
• Lease Period: 80 years
• Usage: Commercial (New Administrative Building for NSE)
• Lease Premium: ₹757.90 crore

This is NSE’s second land allotment in BKC, following the 1993 allocation of Plot C-1 (16,038.3 sq. mt.) where its current headquarters, Exchange Plaza, is located. At the time, MMRDA had relaxed certain provisions of its Land Disposal Regulations to facilitate NSE’s presence in the newly developing commercial zone.

As per a government notification issued on July 19, 2024, NSE will also have the option to acquire additional built-up area beyond the prescribed FSI limit by paying the requisite premium to MMRDA.

Following the Commissioner’s recommendation, the allotment was formally approved by the Hon’ble Deputy Chief Minister and Urban Development Minister, Shri Eknath Shinde, who also serves as Chairman of MMRDA. The offer letter was issued to NSE on March 7, 2025.

Leaders Speak:

Devendra Fadnavis, Hon’ble Chief Minister of Maharashtra, said:
“This decision reflects Maharashtra’s commitment to fostering financial growth and infrastructure development. By enabling NSE to expand its footprint in Bandra-Kurla Complex, we are reinforcing Mumbai’s position as the financial capital of India and ensuring a conducive business environment for key institutions.”

Eknath Shinde, Hon’ble Deputy CM & Chairman, MMRDA, stated:
“The allotment of Plot C-82 to NSE is part of MMRDA’s efforts to strengthen BKC as a key financial hub. This step will boost commercial growth, support NSE’s expansion, and contribute to Mumbai’s economic development.”

Dr. Sanjay Mukherjee, Metropolitan Commissioner, MMRDA, added:
“MMRDA is focused on developing Mumbai’s commercial infrastructure. The allotment of Plot C-82 to NSE will support the exchange’s expansion and strengthen BKC as a top business district.”

The upcoming administrative facility will enhance NSE’s operational scale, provide modern infrastructure, and accommodate its growing workforce. With this move, the exchange deepens its roots in Mumbai’s commercial landscape, while the state government underlines its long-term vision to transform BKC into a global financial powerhouse.

Also Read: Mumbai Metropolitan Region Development Authority (MMRDA)

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