NABARD Acquires Prime BKC Property from MTNL

NABARD has secured leasehold rights for a commercial complex in Mumbai's BKC for Rs 351 crore from MTNL. This transaction was finalized in 2026, allowing NABARD direct sub-lease with MMRDA. The property, comprising significant built-up space, will be used for NABARD's institutional purposes under new financial commitments.

NABARD, the apex rural development financial institution, has confirmed its latest acquisition of a commercial complex in Mumbai's Bandra-Kurla Complex (BKC), following a Rs 351 crore deal with MTNL, as stated by CRE Matrix.

This significant transaction, registered in May 2026, involves NABARD taking over the leasehold rights from MTNL for a plot with a built-up area of 4,021.43 square meters across two structures. The original lease, assigned by the Mumbai Metropolitan Region Development Authority (MMRDA) to MTNL in 1998, has now been handed over to NABARD with the unexpired term extending up to 2078.

This strategic move grants NABARD, as the new sub-lessee under MMRDA, essential space for its operations, with financial responsibilities inclusive of ground rent, transfer fees, and maintenance duties commencing March 30, 2026.