Mumbai Real Estate News: Inorbit Acquires Nadir Company; Heritage Capitol Cinema Building To Undergo Repairs

Mumbai, Jan 21: Nadir Company Private Limited, which holds the lease of the historic Capitol Cinema building in south Mumbai, has been acquired by Inorbit, a retail real estate platform owned by the K Raheja Group, according to a declaration document filed with the Inspector General of Registration & Controller of Stamps, Maharashtra State.

The declaration document was accessed through Propstack, a real estate data analytics firm that provides commercial property information.

Heritage-compliant repairs planned

Following the change in ownership, the Capitol Cinema building—located opposite Chhatrapati Shivaji Maharaj Terminus (CSMT) on Hornby Road—is set to undergo repairs and renovation in line with heritage conservation norms.

The property is classified as a Grade-IIA heritage structure, and all repair and restoration work will require approval from the Mumbai Heritage Conservation Committee.

Lease renewal confirmed

A registered undertaking filed by Nadir Company Private Limited on December 16, 2025, confirms acceptance of a 30-year lease renewal granted by the BrihanMumbai Municipal Corporation (BMC), effective retrospectively from May 1, 2005, to April 30, 2035. The lease pertains to the Capitol Cinema building.

Conditions and obligations

As part of the undertaking, the company has committed to carrying out necessary repairs while preserving the heritage character of the structure, given its proximity to the BMC headquarters and the CSMT precinct.

The company has also agreed to rectify any existing breaches of lease conditions within one year, failing which the civic body reserves the right to terminate the lease.

The BMC’s renewal order specifies that the land use will remain restricted to a cinema, shops and residential use for the lessee.

Approvals and background

The lease renewal was approved by the Assistant Commissioner (Estate) of the BMC on October 9, 2025, and was followed by a board resolution authorising company officials, including Rajneesh Mahajan, CEO of Inorbit Mall.

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Originally leased in 1908, the Capitol Cinema property has long been a landmark in Mumbai’s heritage precinct. With Inorbit and the K Raheja Group now stepping in through the acquisition of Nadir Company, the planned repairs are expected to focus on conservation and compliance rather than redevelopment, ensuring the continued presence of the historic structure in the Fort area, according to real estate observers.

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