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.

Real Estate

08 Oct 2025

Bennet & Bernard Unveil Dutch-Inspired ‘Casa El Toledo’ in Goa

Bennet & Bernard Group, Goa’s leading luxury real estate developer, has launched its newest project, Casa El Toledo, in Assagao. The enclave features 18 ultra-luxury 4 BHK Dutch-style villas blending European charm with tropical elegance. Each villa includes a private pool, double-height ceilings, open courtyards, alfresco dining areas, and English-inspired landscaping. The interiors are curated by noted Dutch designer Kelly Marie. Reflecting the grandeur of the Dutch Golden Age, Casa El Toledo harmonises heritage aesthetics with modern sensibilities. Expansive interiors flow..

Godrej Delivers Heaviest Ecolaire Surface Condenser to US Project

Godrej Enterprises Group’s Process Equipment business has manufactured and delivered its heaviest Ecolaire® Surface Condenser to date, weighing nearly 450 metric tonnes, for a power-generation project in the United States. The project, powered by natural gas and partly designed for hydrogen compatibility, marks another step in advancing clean energy systems. Produced at the company’s GreenCo-certified Dahej facility in Gujarat, the equipment demonstrates India’s growing engineering capabilities and reinforces Godrej’s ‘Make in India for the World’ vision. Hussain S..

India, Brazil Discuss Energy Ties And Oil Investments

Union Minister for Petroleum and Natural Gas Hardeep Singh Puri held discussions with Celso Luis Nunes Amorim, Special Advisor to the President of Brazil, and senior Brazilian officials to strengthen bilateral cooperation in the oil, gas, and energy transition sectors. The talks took place during a dinner hosted by Kenneth H da Nobrega, Ambassador of Brazil to India, at his residence in New Delhi.Mr Puri said the meeting focused on Indian investments in Brazil’s oil and gas sector, as well as expanding collaboration in energy transition and biofuels. “The enriching conversation revolved ar..