RBI Acquires Prime 4.6-Acre Nariman Point Land for Rs 3,472 Crore
The Reserve Bank of India (RBI) has secured a 4.61-acre land plot at Nariman Point, Mumbai, from MMRCL for ₹3,472 crore, marking one of the largest land deals in India this year.
RbiNariman PointMmrclReal EstateCommercial DistrictReal EstateSep 11, 2025
The prime plot is strategically located close to Mantralaya, the Bombay High Court, and several corporate headquarters, enhancing its long-term institutional value. This acquisition underscores the enduring premium of Nariman Point in Mumbai’s commercial real estate market.
Initially, MMRCL had planned to auction the land through a global tender, as first reported by The Economic Times in October last year. The tender was set to be the first-ever auction of land in Nariman Point since its development as a planned commercial district in the 1970s. However, the auction was cancelled after the central bank expressed interest in January to expand its headquarters.
The deal, registered on September 5, also attracted a stamp duty of over ₹208 crore, as per documents accessed via CRE Matrix. For the RBI, this purchase represents a significant expansion of its real estate footprint in Mumbai, where it already owns its Mint Road headquarters and other properties. The newly acquired site is expected to be developed for institutional purposes, further strengthening the central bank’s presence in India’s financial hub.
MMRCL, tasked with developing metro projects in Mumbai, has been monetizing land parcels in south and central Mumbai to fund the city’s metro expansion. Despite the rise of newer business hubs such as the Bandra-Kurla Complex and Lower Parel, property consultants told The Economic Times that the scale and location of the RBI deal highlight Nariman Point’s enduring premium in Mumbai’s commercial real estate market.
This acquisition is a strategic move by the RBI to expand its operations and reinforce its position in one of the most prestigious commercial districts in India. The deal not only adds to the RBI’s real estate portfolio but also underscores the continued importance of Nariman Point as a key business and financial center in Mumbai.
Frequently Asked Questions
What is the significance of the RBI's acquisition of the 4.61-acre land in Nariman Point?
The acquisition represents a significant expansion of the RBI's real estate footprint in Mumbai, reinforcing its presence in India’s financial hub and highlighting the enduring premium of Nariman Point in the commercial real estate market.
How much did the RBI pay for the land?
The RBI paid ₹3,472 crore for the 4.61-acre land parcel.
What was the initial plan for the land auction by MMRCL?
MMRCL initially planned to auction the land through a global tender, which was set to be the first-ever auction of land in Nariman Point since the 1970s. However, the auction was cancelled after the RBI expressed interest in January.
What is the role of MMRCL in Mumbai's development?
MMRCL is tasked with developing metro projects in Mumbai and has been monetizing land parcels in south and central Mumbai to fund the city’s metro expansion.
Why is Nariman Point still considered a premium location in Mumbai's commercial real estate market?
Despite the rise of newer business hubs, Nariman Point’s strategic location close to key government and corporate institutions, along with its historical significance, continues to make it a premier commercial district in Mumbai.
Related News Articles
Mumbai Sees 16% YoY Rise in Property Registrations, Boosted by Economic Growth
Mumbai city witnessed significant growth in July 2024, with 12,160 property registrations contributing over INR 1,055 cr to the state exchequer.
India's Housing Market Sees 18% Decline in Sales Across Top 9 Cities
Housing sales decline by 18% year-on-year during July-September quarter, with only Delhi NCR and Navi Mumbai seeing a rise in sales.
Invest in Prime Land in Kilmudalambedu: 144 Acres for Sale by JB Real Estate
JB Real Estate presents a rare opportunity to invest in a substantial land parcel of 144 acres in Kilmudalambedu, located along Pazhaverkadu Road in Gummidipoondi Taluk, Tiruvallur District.
MahaRERA Unveils 314 Housing Projects in Bankruptcy: Essential Guide for Prospective Buyers
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has recently revealed a list of 314 housing projects currently in bankruptcy. This alarming number includes 56 ongoing projects, with an average of 18 months of delay. Homebuyers are urged to exe
DLF Plans to Launch First Phase of Mumbai Project in Q4FY25
DLF Limited, a leading real estate developer, is set to launch the first phase of its Mumbai project in the fourth quarter of FY25. This project, located in Andheri (West), is being developed in partnership with the Trident Group and is a Slum Rehabilitat
Real Estate Booms: Tier II Cities See Property Values Surge by 65% Since 2023
A recent report by PropEquity, a leading real estate data and analytics platform, reveals that property values in Tier II cities have appreciated by up to 65% since 2023. Out of the top 30 Tier II cities, 25 have seen a significant rise in prices, while 5