BKC Luxury Hotel: Schloss Bangalore Bags 80-Year, ₹1,302-Cr Lease

Schloss Bangalore, the parent company behind the renowned luxury hotel brand 'The Leela,' has secured a significant land allotment in Mumbai's upscale Bandra Kurla Complex (BKC) for the development of a new 250-key luxury hotel.

The Mumbai Metropolitan Region Development Authority (MMRDA) officially approved the allotment of the 8,412 square meter plot on June 2, according to an exchange filing by the company.

The strategic lease has been granted to Schloss Bangalore and its consortium partners for an extensive period of 80 years. The total lease premium for the prime BKC location is set to exceed ₹1,302 crore, signaling a substantial investment in Mumbai's burgeoning luxury hospitality sector.

This development marks a significant expansion for The Leela brand, further solidifying its presence in India's financial capital. The new luxury hotel is expected to cater to the growing demand for premium accommodation in BKC, a rapidly developing business and financial hub.

Further details regarding the project's timeline, design, and specific amenities are anticipated to be released by Schloss Bangalore in the coming months.