NPCI to Build 16-Storey Global HQ in BKC After ₹829 Crore Land Acquisition.

The National Payments Corporation of India (NPCI), the umbrella organization for retail payment systems in India, has finalized the acquisition of a prime 1.5-acre land parcel in Mumbai's prestigious Bandra-Kurla Complex (BKC) from the Mumbai Metropolitan Region Development Authority (MMRDA) for ₹829.43 crore. This strategic acquisition paves the way for NPCI to establish its global headquarters in the bustling business district.

The transaction, concluded on June 18, grants NPCI an 80-year lease for two amalgamated plots located in G-Block of BKC. The acquired land has a permissible built-up area of approximately 259,000 sq ft. This deal stands out as one of the key land transactions in BKC and is expected to significantly influence the financial district's real estate landscape, particularly regarding future pricing trends and development strategies. According to documents accessed via real estate data analytics platform Propstack, NPCI has already paid the entire lease premium to MMRDA.

Ambitious Plans for Innovation and Global Collaboration

NPCI CEO Dilip Asbe recently disclosed at an industry event that the organization is developing a cutting-edge research and development and experience center in Mumbai. This facility, designed to accommodate 5,000 people, will be an integral part of its new global headquarters.

Asbe emphasized that this move aligns with NPCI's overarching goal of accelerating innovation in digital payments and expanding its global collaborations. He highlighted that over 70 countries have visited the corporation's current office in the past four to five years, underscoring its growing international influence.

A resolution passed by NPCI's board confirms plans to construct a 16-storey office building on the newly acquired site. The proposed structure is anticipated to offer around 500,000 sq ft of built-up space and will include four to five levels of basement parking, catering to the significant operational needs of its expanded global operations.