The Leela's ₹1,302 Crore Bet on Mumbai's Luxury Future

Schloss Bangalore, operator of the luxury hotel brand 'The Leela,' has secured official allotment approval for a landmark hospitality project in Mumbai’s Bandra Kurla Complex (BKC). The Mumbai Metropolitan Region Development Authority (MMRDA) granted the allotment on 2 June, as disclosed in the company’s exchange filing.

The project involves developing a 250-key luxury hotel on a prime 8,412 sq. mtr. plot in one of Mumbai’s most prominent commercial districts. Schloss Bangalore and its consortium partners have been awarded the lease for 80 years, with a total lease premium exceeding ₹1,302 crore.

Per the agreement, 25% of the premium is payable within two months of the allotment offer, and the remaining 75% within the subsequent ten months. Land possession will be granted upon full payment of the lease premium.

This development marks a major step in The Leela's expansion in Mumbai, underscoring the rising demand for luxury hospitality in key urban markets.

News by Rahul Yelligetti.