Congress Demands Cancellation of RBI Land Deal in South Mumbai, Threatens Legal Action
The Congress party has demanded that the Maharashtra government revoke the sale of a prime south Mumbai plot to the Reserve Bank of India (RBI), alleging the deal is arbitrary and fraudulent. The party threatens legal action if the deal is not canceled.
CongressRbiLand DealSouth MumbaiMetro3Real Estate MaharashtraSep 13, 2025
Congress senior spokesperson Sachin Sawant has termed the deal as a significant loss to the state exchequer. The Mumbai Metro Rail Corporation (MMRC) executed a sale deed on September 5, transferring a 16,842-sqmt (about 4.1 acres) plot at Nariman Point to the RBI for Rs 3,471.82 crore. This transaction is aimed at funding the Colaba-Bandra-SEEPZ Metro-3 corridor.
The Maharashtra government had allocated the land to MMRC to help raise Rs 1,000 crore from real estate sources, as mandated by the Centre for the Metro-3 capital works. However, the Congress party argues that the market value of the land is around Rs 5,200 crore, suggesting a loss of nearly Rs 1,800 crore to the state.
Sawant further stated, “The then government and Metro authorities had assured us that once the project was complete, new office premises would be constructed for all parties at the same location. However, without any consultation, the land has now been sold to RBI for Rs 3,400 crore.” He added that the deal is a show of arrogance and must be scrapped, and the Congress party must be allotted its office at the same Nariman Point location, failing which they will approach the court.
Citing a government order of October 21, 2015, and a letter issued by then Chief Minister Devendra Fadnavis in December 2016, which assured temporary relocation, Sawant accused the state and MMRC of reneging on their promise. He also alleged that the RBI has been misled, as the corporation did not inform it about the earlier assurances.
Maharashtra Congress vice president Ganesh Patil confirmed that the party has written to the government and MMRC, warning of legal action if the assurance is not honored. Two phases of the 33-km Metro-3 ‘Aqua line’ (Aarey Colony JVLR-BKC and BKC-Acharya Atre Chowk) are already operational, and the final phase, between Acharya Atre Chowk in Worli and Cuffe Parade in south Mumbai, is expected to be completed soon.
Frequently Asked Questions
What is the land deal in question?
The land deal in question involves the sale of a 16,842-sqmt (about 4.1 acres) plot at Nariman Point in south Mumbai to the Reserve Bank of India (RBI) for Rs 3,471.82 crore. This deal is aimed at funding the Colaba-Bandra-SEEPZ Metro-3 corridor.
Why is the Congress party demanding the cancellation of the deal?
The Congress party is demanding the cancellation of the deal because they claim it is arbitrary and fraudulent. They also allege that the deal reneges on past assurances to political parties and causes a loss of nearly Rs 1,800 crore to the state exchequer.
What assurances were given to political parties?
Political parties were assured that once the Metro project was complete, new office premises would be constructed for them at the same location. This assurance was given in a government order of October 21, 2015, and a letter by then Chief Minister Devendra Fadnavis in December 2016.
What is the market value of the land according to the Congress?
According to the Congress party, the market value of the land is around Rs 5,200 crore, which is significantly higher than the Rs 3,400 crore for which it was sold to the RBI.
What legal action is the Congress party threatening?
The Congress party has threatened to approach the court if the government does not revoke the land deal and honor the assurance to allocate office premises at the same Nariman Point location.
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