Schloss Bangalore to Build Luxury Hotel in BKC

New Delhi, Jun 3 (PTI) Schloss Bangalore (The Leela) on Tuesday said Mumbai Metropolitan Region Development Authority (MMRDA) has allotted a commercial plot in Bandra-Kurla Complex, Mumbai, to a consortium led by it.

The company intends to develop a mixed-use project, including a 250-key luxury hotel on this plot, the company said in a regulatory filing.

The 80-year lease of commercial plot has been allotted to the company-led consortium with partners Arliga Ecospace Business Park Pvt Ltd and Schloss Chanakya Pvt Ltd, the filing said.

The plot area is 8,411.88 square metre and the permissible built-up area is 33,647.52 sq m, subject to demarcation and site condition.

The total lease premium payable is Rs 1,302.15 crore, wherein 25 per cent is payable within 2 months of the offer of allotment and the remaining 75 per cent within ten months thereafter.

The possession of the aforesaid plot will be handed over after the payment of the total lease premium, it added.

The company-led consortium had submitted a binding bid to Mumbai Metropolitan Region Development Authority (MMRDA) to lease a plot of 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.