Congress Demands Cancellation of RBI South Mumbai Plot Deal, Threatens Legal Action
The Congress party has demanded the cancellation of the sale of a South Mumbai plot to the Reserve Bank of India (RBI), alleging a loss of Rs 1,800 crore to the state exchequer and reneging on past promises.
CongressRbiSouth MumbaiNariman PointMetro3Real Estate MaharashtraSep 13, 2025
Calling the decision 'arbitrary,' party senior spokesperson Sachin Sawant said the land deal also amounted to 'cheating' political parties and reneging on past assurances.
The Mumbai Metro Rail Corporation (MMRC) on September 5 executed a sale deed for the transfer of a 16,842-sqmt (about 4.1 acres) plot at Nariman Point to the central bank for Rs 3,471.82 crore, intended to fund 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 Metro-3 capital works.
'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,' Sawant said, according to PTI.
Claiming that the market value of the land is around Rs 5,200 crore, he said the deal has caused a loss of nearly Rs 1,800 crore to the state exchequer. 'This deal is a show of arrogance, arbitrary, and fraudulent. It must be scrapped, and the Congress party must be allotted its office at the same Nariman Point location, failing which we will approach the court,' he added, according to PTI.
Citing a government order of October 21, 2015, and a letter issued by then Chief Minister Devendra Fadnavis in December 2016 assuring temporary relocation, Sawant accused the state and MMRC of reneging on their promise. 'Even the RBI has been misled, as the corporation did not inform it about the earlier assurances,' he alleged.
Maharashtra Congress Vice-President Ganesh Patil said the party has written to the government and MMRC, warning of legal action if the assurance is not honoured.
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 main issue with the sale of the South Mumbai plot to the RBI?
The main issue is that the sale is alleged to have caused a loss of nearly Rs 1,800 crore to the state exchequer and reneged on past promises to political parties for office relocation.
Who is demanding the cancellation of the land deal?
The Congress party, through its senior spokesperson Sachin Sawant, is demanding the cancellation of the land deal.
What was the intended purpose of the land sale?
The intended purpose of the land sale was to raise funds for the Colaba-Bandra-SEEPZ Metro-3 corridor.
What assurances were given to political parties regarding the land?
Political parties were assured that new office premises would be constructed for them at the same location once the Metro project was complete.
What is the current status of the Metro-3 project?
Two phases of the 33-km Metro-3 'Aqua Line' are already operational, and the final phase is expected to be completed soon.
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