RBI Acquires 4.61-Acre Nariman Point Land for Rs 34.72 Billion
12 Sep 2025 CW Team
The Reserve Bank of India (RBI) has purchased a 4.61-acre land parcel at Nariman Point in South Mumbai from the Mumbai Metro Rail Corporation Ltd (MMRCL) for Rs 34.72 billion, marking one of the largest land transactions in India this year.
The prime site, located near Mantralaya, the Bombay High Court, and several corporate headquarters, underscores its long-term institutional value. MMRCL had originally planned to auction the land through a global tender, which would have been the first-ever auction in Nariman Point since its development as a commercial district in the 1970s. However, the tender was cancelled after the central bank expressed interest in January to expand its headquarters.
The transaction, registered on 5 September, also attracted stamp duty of over Rs 2.08 billion, according to documents accessed via CRE Matrix.
For the RBI, the acquisition significantly expands its real estate footprint in Mumbai, where it already owns the Mint Road headquarters and other properties. The newly acquired site is expected to be developed for institutional purposes, strengthening the central bank’s presence in India’s financial hub.
MMRCL, responsible for developing Mumbai’s metro projects, has been monetising land parcels in south and central Mumbai to fund metro expansion. Despite the emergence of newer business hubs such as Bandra-Kurla Complex and Lower Parel, property consultants noted that the scale and location of the RBI deal emphasise Nariman Point’s continued premium in the city’s commercial real estate market.