RBI Acquires 4.61-Acre Plot at Nariman Point for Rs 3,472 Crore
The Reserve Bank of India (RBI) has made a significant real estate acquisition in Mumbai, purchasing a 4.61-acre land parcel at Nariman Point from the Mumbai Metro Rail Corporation (MMRCL) for Rs 3,472 crore. This strategic move expands the central bank's footprint in the financial hub.
RbiNariman PointReal EstateMmrclMumbaiReal Estate MumbaiSep 10, 2025
The land is strategically located near the state government’s secretariat Mantralaya, the Bombay High Court, and several corporate headquarters, underscoring its long-term institutional value. The acquisition is expected to significantly enhance the RBI's presence in Mumbai, a key financial hub.
In January, the central bank expressed interest in acquiring the plot to expand its headquarters. Subsequently, MMRCL cancelled the tender to consider RBI's proposal. The transaction, registered on September 5, also attracted a stamp duty of over Rs 208 crore, as shown by documents accessed through CRE Matrix.
For the RBI, this acquisition marks a major expansion of its real estate footprint in Mumbai, where it already owns prominent properties, including its Mint Road headquarters. The newly acquired plot is expected to be developed for institutional use, strengthening the central bank’s presence in the country’s financial hub.
MMRCL, responsible for planning, designing, and executing metro projects in Mumbai, has been looking to monetise land parcels in four key localities of south and central Mumbai. This move is part of MMRCL’s broader strategy to optimise land use and generate revenue to support Mumbai’s metro expansion.
The deal involves a vacant and open tract in Mumbai’s central business district, an area considered among the most expensive commercial real estate markets in India. Property consultants said the deal size and location underline the continued premium commanded by Nariman Point despite the growth of new business districts in Bandra-Kurla Complex and Lower Parel.
This strategic move by the RBI not only expands its physical presence but also reinforces its commitment to the financial stability and development of the region. The acquisition is expected to have a positive impact on the local real estate market and further solidify Nariman Point’s status as a premier business district in India.
Frequently Asked Questions
What is the significance of the RBI's acquisition of the 4.61-acre land parcel in Nariman Point?
The acquisition is significant as it expands the RBI's real estate footprint in Mumbai, a key financial hub. It also underscores the long-term institutional value of the area and strengthens the central bank's presence in the city.
How much did the RBI pay for the land parcel, and what was the stamp duty?
The RBI paid Rs 3,472 crore for the land parcel, and the transaction attracted a stamp duty of over Rs 208 crore.
What is the strategic location of the acquired land?
The land is strategically located near the state government’s secretariat Mantralaya, the Bombay High Court, and several corporate headquarters in the central business district of Mumbai.
What was MMRCL's original plan for the land parcel, and why did they cancel the tender?
MMRCL originally planned to auction the land parcel through a global tender. However, they cancelled the tender after the RBI expressed interest in acquiring the plot to expand its headquarters.
How does this acquisition impact the local real estate market in Nariman Point?
The acquisition reinforces Nariman Point's status as a premier business district and underlines the continued premium commanded by the area, despite the growth of new business districts in Mumbai.
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