The Indian Hotels Company Ltd., parent of the Taj group, has received the initial commencement certificate from the Brihanmumbai Municipal Corporation to begin work on its much-anticipated Taj Bandstand project at Bandra, Mumbai, as per a disclosure to the stock exchanges.
With this approval, the Tata Group’s hospitality arm confirmed that all clearances are now in place to commence construction through its wholly owned subsidiary, ELEL Hotels and Investment Ltd.
IHCL will invest Rs 1,570 crore to build a 330-room, 85-apartment luxury property on a prime two-acre, sea-facing plot directly opposite its flagship Taj Lands End. The company pegged the total outlay at Rs 2,500 crore, including the Rs 930 crore acquisition of the site, formerly home to the iconic Sea Rock Hotel. Operations at Taj Bandstand are scheduled to begin in 2029.
The Sea Rock property, suburban Mumbai’s first five-star hotel, was severely damaged in the 1993 terror attack and lay dormant for years. IHCL acquired the land in 2009, but the redevelopment was stalled due to litigation and regulatory hurdles. The project has since secured most permissions, with two pending: a work commencement certificate from the BMC and an additional 20-metre height clearance from the Airports Authority of India. IHCL MD Puneet Chhatwal said the final room and apartment count may rise depending on the clearances.
The groundbreaking ceremony was attended by Maharashtra chief minister Devendra Fadnavis and IHCL chairman N Chandrasekaran, alongside a diverse guest list of industry leaders, politicians, and film personalities. Bollywood actors Jackie Shroff and Chunky Pandey, music composer Anu Malik, law firm founder Nishith Desai, BNP Paribas MD Ganesh Murugaiyan, and former Sea Rock owner Suresh Nanda were among those present.
Calling it a “dream project” for the Tata Group, Chandrasekaran said: “Although every new property holds significance, this project is different due to its journey marked by many ups and downs.” The late Ratan Tata had long envisioned the revival of the site.
With Taj Bandstand, Mumbai will become the city with the highest number of IHCL properties in the country.
Shares of the company closed 1.47% lower at Rs 735 apiece on the NSE, as compared to a 0.66% fall in the benchmark Nifty 50.
