National Securities Depository Limited (NSDL) has entered into an agreement for the purchase of office premises from IDFC First Bank for a consideration of Rs 200 crore.
The space spanning 68,000 square feet is situated in Naman Chambers at Bandra Kurla Complex.
People familiar with the development said that securing office space in the premium micro-market of BKC often poses certain challenges, given the high demand and limited supply.
The average rentals in BKC area stands at Rs 250-300 per square feet. The sale/resale price stands at Rs 30,000 -Rs 38,000 per sq feet.
NSDL is expanding its operational infrastructure. It is expected to move into the premises next year.
Colliers acted as the transaction advisors.