Schloss Bangalore (The Leela) has received MMRDA’s allotment for a commercial plot in BKC to set up a 250-key luxury hotel, Arq Club, and a commercial tower.
Plot details and Consortium composition
(i) The plot, admeasuring 8,411.88 sqm, has been awarded and allotted to the Consortium. The Consortium comprises the Company (together with its wholly owned subsidiary, Schloss Chanakya Private Limited) as the lead member, holding a 50.0% stake. The other member is Arliga Ecospace Business Park Private Limited (an affiliate of Brookfield Asset Management Ltd.), which, along with its affiliates, will hold the remaining 50.0% stake.
Lease premium and financials
(ii) The total lease premium payable is INR 1,302,15,90,240/- (Indian Rupees One Thousand Three Hundred Two Crores Fifteen Lakhs Ninety Thousand Two Hundred Forty only).
Built-up area and government notifications
(iii) The permissible built-up area is 33,647.52 sqm (4.0 times the plot area). The plot may secure additional built-up area from MMRDA, as per the Government of Maharashtra Notification dated July 19, 2024. In its 159th meeting held on March 28, 2025, MMRDA extended the last date of this scheme up to July 18, 2026. The Consortium intends to secure an additional built-up area of 33,647.52 sqm from MMRDA.
Development plans
(iv) The Consortium plans to develop a mixed-use project comprising:
(a) a 250-key luxury palace hotel with amenities and the Arq Club, and
(b) a commercial tower of approximately 700,000 sq. ft. (in chargeable area terms) on this plot.
The development remains subject to design and planning, and actual areas may vary.
