L&T REALTY BANDRA — New Project Coming Up in Bandra Kurla Complex, Mumbai

L&T Realty to Co-Develop Major Mixed-Use Project in Bandra Kurla Complex

L&T Realty has signed a binding agreement with Valor Estate (formerly DB Realty) to co-develop a major project worth over Rs 20,000 crore on a 10-acre land parcel in Mumbai's Bandra-Kurla Complex (BKC).

Project Scope and Scale

The project will feature a mix of premium housing, commercial spaces, and five-star luxury hotel which boasts 1,000 rooms. This mixed-use development, situated next to the upcoming Bombay High Court complex, has a total development potential of over 7.5 million square feet.

L&T Realty and Valor Estate will share the developed area in a 58:42 ratio, respectively, with Valor Estate fully owning the luxury hotel.

Location and Market Context

As Mumbai's premier business district, Bandra Kurla Complex (BKC) hosts numerous multinational corporations, financial institutions and corporate offices, including major companies like the Reserve Bank of India (RBI). The location sits within one of the city's most active commercial and residential markets, with average flat rates in Bandra Kurla Complex at ₹56,350 per sq ft.

Development Timeline and Land Matters

The 10-acre plot is part of a larger 13-acre area, currently home to approximately 5,500 families living in slums. These families will be rehabilitated as part of the development. Valor Estate is tasked with vacating the land and obtaining necessary development approvals, expected to take 12-18 months. The entire project, including rehabilitation, is projected to be completed within 5-6 years.

About L&T Realty

Established in 2011, L&T Realty is the real estate arm of the Larsen and Toubro, with an extensive portfolio spanning 70 million square feet across Residential, Commercial and Retail developments across Mumbai, Navi Mumbai, NCR, Bengaluru, Hyderabad and Chennai. L&T Realty's Mumbai portfolio spans Powai, Parel, Ghatkopar, Mulund and Mahim, with notable completed residential projects including Emerald Isle, Powai, a completed landmark community now home to over 1,500 families, spread across 19 acres with 10 acres of open spaces and 3 acres of central greenery.