The National Payments Corporation of India (NPCI) has secured a landmark land deal in Mumbai’s Bandra-Kurla Complex (BKC), acquiring nearly 1.5 acres from the Mumbai Metropolitan Region Development Authority (MMRDA) for Rs 829.43 crore to establish its global headquarters.Finalised on June 18, the transaction grants NPCI an 80-year lease for two amalgamated plots in BKC’s G-Block. As per ET, the deal includes a permissible built-up area of about 2.59 lakh sq ft, though NPCI plans to construct a 16-storey tower offering nearly 5 lakh sq ft, indicating its intent to acquire additional Floor Space Index (FSI. The proposed structure will also feature four to five basement parking levels.The payment systems operator, which runs UPI, RuPay and NACH platforms, has already made the full lease premium payment, according to documents accessed via realty data analytics platform Propstack. The acquisition is among the more prominent land deals in BKC and is likely to impact future pricing and development dynamics in the area.At a recent industry event, NPCI CEO Dilip Asbe said the organisation aims to develop a 5,000-seat R&D and experience centre in Mumbai as part of its new headquarters. He noted that over 70 countries have visited NPCI in the last 4–5 years, underlining its rising global stature, according to ET.Asbe further added that this move aligns with NPCI’s vision to drive innovation in digital payments and deepen international cooperation.The land acquisition follows other high-profile deals in BKC. Recently, MMRDA allotted a 2.1-acre plot to a Brookfield-led consortium for Rs 1,302 crore, while Sumitomo Corporation’s Goisu Realty secured a 3-acre parcel for over Rs 2,067 crore.NPCI’s decision to consolidate its operations reflects a growing trend among public sector institutions to own strategic real estate in central business hubs rather than leasing. The G-Block site is located near several financial regulators, top banks, multinational consultancies and is set to benefit from upcoming metro links and the proposed BKC bullet train station.For MMRDA, this deal adds significant revenue and advances its goal of structured urban development across Mumbai. The transaction also underscores strong institutional demand for premium commercial property in India’s financial capital.With digital payments expanding rapidly nationwide, NPCI’s investment in a permanent HQ marks a strategic push to scale its operations and strengthen its institutional footprint.
