The consortium, led by Schloss Bangalore and including its subsidiary Schloss Chanakya Pvt Ltd and Arliga Ecospace Business Parks Pvt Ltd — an affiliate of Brookfield — submitted the highest financial bid for Plot No. 80 in the ‘G’ Block of BKC. MMRDA declared the winning bid on April 4, 2025.
The plot measures 8,411.88 square meters, with a permissible built-up area of 33,647.52 square meters, subject to final demarcation. The lease is valid for 80 years, and the total lease premium stands at ₹1,302.15 crore. Of this, 25% is due within two months of the allotment offer, with the remaining 75% payable over the following ten months.
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The Leela-led consortium plans to develop a mixed-use project on the site, including a 250-key luxury hotel. Possession of the land will be granted once the full lease premium is paid.
Established on March 20, 2019, Schloss Bangalore is a luxury hospitality company operating under the “The Leela” brand in India. It owns, operates, manages, and develops luxury hotels and resorts, offering premier accommodations and personalised services inspired by Indian hospitality.
As of May 2024, the company operates 12 properties with 3,382 keys under The Leela Palaces, Hotels, and Resorts. Five of these — located in Bengaluru, Chennai, New Delhi, Jaipur, and Udaipur — are wholly owned.
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For the fiscal year ending on March 31, 2025, the company posted a profit of ₹47.66 crore and a revenue of ₹1,406.56 crore. Earlier, the firm posted a net loss of ₹2.13 crore and a revenue of ₹1,226.50 crore for FY24.
First Published: Jun 3, 2025 9:08 PM IST
