RBI Secures Prime Nariman Point Land in Major 2025 Real Estate Deal
The Reserve Bank of India (RBI) has acquired a 4.16-acre land parcel at Nariman Point in South Mumbai for ₹3,471.82 crore, marking one of the largest land transactions in India this year.
RbiReal EstateLand AcquisitionNariman PointMumbaiReal Estate NewsSep 11, 2025
The site is expected to host a new RBI office complex, consolidating its operations in a state-of-the-art facility. Located close to Mantralaya, the Bombay High Court, and several corporate headquarters, the Nariman Point parcel is considered highly strategic.
Property consultants told The Economic Times (ET) that despite the rise of newer commercial hubs such as Bandra-Kurla Complex (BKC) and Lower Parel, the scale and location of this transaction underscore Nariman Point’s enduring premium in Mumbai’s commercial real estate market. The acquisition price works out to roughly ₹834 crore per acre, about 50% above prevailing market rates for comparable land in the area.
The total buildable area of the plot is around 1.6 million sq ft, which includes 1.13 lakh sq ft earmarked for rehabilitation obligations. ET reported that the Mumbai Metro Rail Corporation Ltd (MMRCL) had initially planned to auction the land through a global tender—the first-ever in Nariman Point—since its emergence as a planned commercial district in the 1970s. The tender was later cancelled after the RBI expressed interest in expanding its Mumbai headquarters.
The deal also aligns with MMRCL’s broader strategy of monetising land in central and south Mumbai to fund metro expansion projects. Earlier large-scale land transactions in Mumbai include the sale of a 22-acre parcel in Worli by the Wadia Group to Goisu Realty, a subsidiary of Japanese developer Sumitomo, for ₹5,200 crore in 2023.
This acquisition not only highlights the RBI's commitment to modernizing its infrastructure but also reinforces Nariman Point's status as a premier commercial district in Mumbai.
Frequently Asked Questions
What is the significance of the RBI's acquisition of the Nariman Point land?
The acquisition is significant as it marks one of the largest land transactions in India this year and will host a new RBI office complex, consolidating its operations in a state-of-the-art facility.
How much did the RBI pay for the land parcel?
The RBI paid ₹3,471.82 crore for the 4.16-acre land parcel, including a stamp duty payment of ₹2,083 crore.
Why is Nariman Point considered a strategic location?
Nariman Point is considered strategic due to its proximity to Mantralaya, the Bombay High Court, and several corporate headquarters, making it a premium commercial district in Mumbai.
What was the initial plan for the Nariman Point land?
Initially, the Mumbai Metro Rail Corporation Ltd (MMRCL) planned to auction the land through a global tender, but the tender was later cancelled after the RBI expressed interest in expanding its Mumbai headquarters.
How does this deal align with MMRCL’s broader strategy?
The deal aligns with MMRCL’s strategy to monetise land in central and south Mumbai to fund metro expansion projects.
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