NABARD acquires leasehold rights to MTNL’s BKC campus in ₹351 crore deal
MUMBAI: The National Bank for Agriculture and Rural Development (NABARD) has acquired the leasehold rights to a prominent two-building commercial campus in Mumbai’s business district Bandra-Kurla Complex (BKC) from state-run telecom company Mahanagar Telephone Nigam Ltd for ₹350.72 crore.
The property comprises nearly two-thirds of an acre land parcel with around 43,287 sq ft of built-up area across two buildings.
The original 80-year lease for the land parcel had been granted by the Mumbai Metropolitan Region Development Authority (MMRDA) to MTNL in April 1998, giving the telecom company leasehold rights over the property until around April 2078.
