NSE to relocate headquarters after MMRDA allocates plot at Bandra-Kurla Complex

In a move that is said to strengthen the citys commercial infrastructure the Mumbai Metropolitan Region Development Authority MMRDA has allotted Plot No C82 in GBlock BandraKurla Complex BKC to the National Stock Exchange of India NSE for the development of a new administrative building as its headquartersIn 2002 the NSE headquarters was shifted to BKC from Mahindra Towers in Worli The new headquarters of the stock exchange which will be constructed in BKC will be situated around 15002000 metres away from the existing officeAccording to MMRDA the approval for the allotment of the plot to NSE aligns with the provisions outlined in Regulation No 16 of its Land Disposal Regulations 1977This resolution was approved during the recently concluded 159th Meeting of MMRDAIn response to NSErsquos request dated October 11 2024 for an additional plot with a builtup area potential of approximately 4 to 5 lakh square feet MMRDA considered the significance of the financial institution while allotting the space In 1993 MMRDA had allotted Plot No C1 in the lsquoGrsquo Block for NSErsquos headquarters at Exchange Plaza in BKC by relaxing certain provisions of MMRDAs Land Disposal Regulations 1977 The plot spanned across 160383 square metres with a builtup area of 3104405 square metresThe plot allotted for the new building has the potential to accommodate additional builtup area beyond the 400 floor space index FSI limit As per the Government of Maharashtrarsquos notification dated July 19 2024 NSE may avail an additional builtup area by paying the requisite premium to MMRDADeputy Chief Minister Eknath Shinde who is also the Urban Development Minister and Chairman of MMRDA has approved the MMRDA Commissionerrsquos proposal for the allotment of Plot No C82 subject to post facto approval from the Authority Following this approval MMRDA issued an official offer letter to NSE on March 7 Subsequently the allocation of this additional space will enhance NSErsquos operational efficiency and contribute to the commercial development of BKCSpeaking on the development Chief Minister Devendra Fadnavis said This decision reflects Maharashtrarsquos commitment to fostering financial growth and infrastructure development By enabling NSE to expand its footprint in BandraKurla Complex we are reinforcing Mumbairsquos position as the financial capital of India and ensuring a conducive business environment for key institutionsShinde said that the allotment of Plot C82 to NSE is part of MMRDArsquos efforts to strengthen BKC as a key financial hub This step will boost commercial growth support NSErsquos expansion and contribute to Mumbairsquos economic development he statedMMRDA Commissioner Dr Sanjay Mukherjee said that the Authority is focused on developing Mumbairsquos commercial infrastructure The allotment of Plot C82 to NSE will support the exchangersquos expansion and strengthen BKC as a top business district he addedAccording to news reports the existing NSE headquarters at BKC will be converted into its data center The plot where the new headquarters will come up is close to the existing office It has been reported that at present apart from its headquarters NSE also operates from another office that has been leased out at Adani Inspire Tower in BKC as well as from a commercial complex in GhatkoparOnce the new headquarter is constructed all the offices of NSE will come under one roofThe stock exchange also has branch offices at Ahmedabad Chennai Delhi Hyderabad and KolkataAccording to its website NSE was incorporated in 1992 It was recognised as a stock exchange by SEBI in April 1993 and commenced operations in 1994 with the launch of the wholesale debt market followed shortly after by the launch of the cash market segmentatOptionskeyd0ddb8ef8f1a62a8cdd22fac27fc5ea7formatiframeheight90width728params