In a significant transaction, the Reserve Bank of India (RBI) has acquired a 4.2-acre (16,832 sq. mtrs.) plot located at Nariman Point from the Mumbai Metro Rail Corporation (MMRCL) for Rs 3,472 crore, intended for the construction of its new office complex.
The sale deed was officially registered on 05 September 2025, facilitating RBI’s development of one of the remaining large parcels in this prestigious business district. The transaction is valued at approximately 50 percent above the current market rates, underscoring its strategic importance.
The land provides a buildable area of 16 lakh sq. ft., which includes 1.13 lakh sq. ft. designated for rehabilitation. Previously, MMRCL had intended to lease the property, anticipating a minimum of Rs 5,173 crore, with interest from prominent entities such as Blackstone, Oberoi Realty, RMZ, and Tata Group.
However, following RBI’s proposal, the auction was called off. An MMRCL representative confirmed, “The Board approved the consideration of RBI’s proposal in due course.”
