RBI Secures Prime Nariman Point Land for Rs 3,472 Crore in Mumbai’s Largest Real Estate Deal
The Reserve Bank of India has finalized a landmark purchase of a 4.2-acre land parcel in Nariman Point, Mumbai, for Rs 3,472 crore, making it one of the largest real estate deals in the city's history.
RbiNariman PointMumbaiReal EstateLand DealReal Estate MumbaiSep 11, 2025
The seller of the land parcel was the Mumbai Metro Railway Corporation Ltd (MMRCL), which is developing the Aqua Line of the Mumbai Metro. The land, one of the rare open parcels in the area, is situated above the Vidhan Bhavan metro station. The station is set to open in the coming months as part of the final phase of the Aqua Line. The central bank also paid a stamp duty of Rs 208 crore for the transaction.
MMRCL had initially planned to auction the plot, which has a development potential of around 1.6 million square feet. The allowable floor-space index for the project is higher due to the transit-oriented development (TOD) related regulations. The agency had appointed Knight Frank India to handle the sale process, which attracted interest from multiple large developers and private equity funds.
However, MMRCL decided to scrap the auction once the central bank expressed interest in purchasing the land parcel. The RBI has its headquarters nearby at Fort and also has offices in other parts of the Mumbai metropolitan region, such as the Bandra Kurla Complex and CBD Belapur in Navi Mumbai. Additionally, the central bank has residential facilities spread across the city for staff accommodation.
Moneycontrol has reached out to the RBI for a comment on the matter, and the story will be updated if any responses are received. According to a close observer of the central bank, the land purchase will help the RBI consolidate its facilities in the city.
"As RBI’s operations grow and are spread out across the city, such plots enable RBI to consolidate their offices and also plan for future space needs. A buy like this is perfect for both the local government as it brings in a strong buyer who can foot the bill, and for RBI as it enables the streamlining of operations," the observer noted.
This strategic move by the RBI not only secures a prime location for future expansion but also aligns with the central bank’s long-term plans to centralize its operations and improve efficiency. The acquisition is expected to have a significant impact on the local real estate market, further highlighting the importance of Nariman Point as a key business hub in Mumbai.
Frequently Asked Questions
What is the total value of the land deal?
The total value of the land deal is Rs 3,472 crore.
Who is the seller of the land parcel?
The seller of the land parcel is the Mumbai Metro Railway Corporation Ltd (MMRCL).
What is the development potential of the land?
The land has a development potential of around 1.6 million square feet.
Why did MMRCL decide to sell the land to RBI instead of auctioning it?
MMRCL decided to sell the land to RBI once the central bank expressed interest, as it brought in a strong and reliable buyer.
What are the benefits of this land purchase for the RBI?
The land purchase will help the RBI consolidate its facilities in the city, plan for future space needs, and streamline operations.
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