RBI Buys 4.16-Acre Nariman Point Land for Rs 34.72bn

17 Sep 2025 CW Team

In one of the largest real estate transactions in recent years, the Reserve Bank of India (RBI) has acquired a 4.16-acre land parcel at Nariman Point, Mumbai, from the Mumbai Metro Rail Corporation (MMRC) for Rs 34.72 billion. The deal, registered on 5 September, attracted a stamp duty of Rs 2.08 billion, according to CRE Matrix, a real estate data analytics firm.

The prime property, located near the backbay reclamation area, lies in the heart of Nariman Point—one of Mumbai’s most prestigious commercial districts. Flanked by Marine Drive, Mantralaya, consulates, and landmark office towers, it remains among the city’s most coveted real estate addresses.

Significance of the Deal

The acquisition underlines RBI’s long-term strategy to expand and consolidate its presence in South Mumbai, near its existing Mint Road headquarters. For MMRC, the transaction provides a significant capital infusion, supporting ongoing Mumbai Metro expansion projects and easing funding pressures on the state-backed corporation.

Industry experts note the rarity of such large institutional land deals in South Mumbai, given the scarcity of sizeable vacant parcels. “This acquisition reaffirms Nariman Point’s status as a premier financial hub and reflects the continued appetite of sovereign and regulatory institutions to secure prime real estate in Mumbai,” said a senior property market analyst.

Benchmark Transaction

Few land sales in recent memory rival this deal in size and strategic importance. Analysts suggest RBI’s purchase may set a new benchmark for land valuations in Mumbai’s commercial districts, even as emerging hubs in Bandra-Kurla Complex (BKC) and Lower Parel reshape the city’s office landscape.

Infrastructure Urban

14 Nov 2025

CM Inaugurates Rs 3.7 Billion Vilholi Water Treatment Plant in Nashik

Chief Minister Devendra Fadnavis inaugurated the Nashik Municipal Corporation’s 274 MLD Vilholi Water Treatment Plant and the upgraded Mukane water supply scheme, a Rs 3.7 billion project designed to provide a reliable and sustainable water supply to more than 55 lakh residents. The system will also cater to over 1 crore visitors expected during the 2027 Simhastha Kumbh Mela.Funded partly through Rs 2 billion Green Sustainable Bonds, the project strengthens Nashik’s long-term water security, ensures year-round availability, and enhances the city’s preparedness for peak tourist inflow. It..

Indian Speciality Chemical Industry Poised for Strong Global Growth

The International Center for Biosaline Agriculture (ICBA), in partnership with Al Rostamani Group, has inaugurated three major facilities at its Dubai headquarters: a Training and Knowledge Transfer Building, a Plant Tissue Culture Laboratory, and an Integrated Agri-Aquaculture System. The launch took place in the presence of H.E. Dr. Amna bint Abdullah Al Dahak, Minister of Climate Change and Environment, marking a significant step forward in strengthening the UAE’s agricultural innovation ecosystem.Fully funded by Al Rostamani Group, the new facilities reinforce ICBA’s role as a leading ..

Mooreast to Explore Up to 500 MW RE Projects in Timor-Leste

Mooreast Holdings, listed on the Singapore Exchange Catalist, announced that it will begin feasibility studies this month for the development of up to 500 megawatts (MW) of large-scale renewable energy (RE) projects in Timor-Leste.The studies follow a Letter of Intent (LOI) signed between Mooreast and the Secretario de Estado de Electricidade Agua e Saneamento (SEEAS), the secretariat for Electricity, Water and Sanitation under Timor-Leste’s Ministry of Public Works. Under the LOI, Mooreast will explore the development of 300–500 MW of floating renewable energy over the next five to ten ye..