RBI Secures Prime Nariman Point Plot in ₹3,472 Crore Deal

In a landmark deal, the Reserve Bank of India (RBI) has purchased a 4.2-acre (16,832 sq. m) plot at Mumbai’s Nariman Point from the Mumbai Metro Rail Corporation Ltd (MMRCL) for ₹3,472 crore. The land will be used to develop RBI’s new office complex in one of the city’s most prestigious business districts.

The sale deed was officially registered on September 5, 2025. The transaction—priced nearly 50% above prevailing market rates—underscores the strategic importance of the site. The plot offers a buildable area of 16 lakh sq. ft., including 1.13 lakh sq. ft. allocated for rehabilitation purposes.

MMRCL had originally planned to lease the land and expected bids upwards of ₹5,173 crore, with interest from prominent entities such as Blackstone, Oberoi Realty, RMZ, and Tata Group. However, after receiving a direct proposal from the RBI, the planned auction was cancelled. An MMRCL spokesperson confirmed, “The Board sanctioned to consider RBI’s proposal appropriately.”

News by Rahul Yelligetti.