RBI to develop its own office space in Goa’s Patto Plaza in 3 years
Real Estate

RBI to develop its own office space in Goa’s Patto Plaza in 3 years

The Reserve Bank of India (RBI) has begun the process to develop dedicated office space in Goa, with RBI governor Shaktikanta Das laying the foundation stone for a new building that will be set up on a 2,020 sq m plot at Patto Plaza.

The RBI building is likely to be achieved in three years and could be designed according to the Indian Green Building Council (IGBC) standards, officials told the media. The RBI’s Goa office presently works from rented premises in a privately-held building at Patto.

The challenges that lie ahead are the timely development of the office building while at the same time, the construction should be environment-friendly and energy-efficient, without compromising on the quality and structural soundness, said Das, who was in Goa for a short visit to lay the foundation stone.

The Economic Development Corporation (EDC), the state-run non-banking finance firm, assigned the plot to the RBI for Rs 30.3 crore, excluding Goods and Services Tax (GST) and stamp duty. The plot near the LIC divisional office was originally sold to Air India but was never used. The EDC has allocated the plot on a long lease to the RBI and the possession continues to remain with the EDC. The RBI will additionally pay the EDC a yearly rent for the plot.

Speaking at the event, Das told the media that despite the difficulties posed by the Covid pandemic, the RBI has pro-actively worked to provide stability to the economy and the banking system by taking up various conventional and unconventional steps. RBI officials told the media that the construction agreement for the office building has been given to the Central Public Works Department (CPWD) and that the building will have an “iconic” design.

Image Source

Also read: RBI to hold lending rate steady at 4% to aid economic recovery

The Reserve Bank of India (RBI) has begun the process to develop dedicated office space in Goa, with RBI governor Shaktikanta Das laying the foundation stone for a new building that will be set up on a 2,020 sq m plot at Patto Plaza. The RBI building is likely to be achieved in three years and could be designed according to the Indian Green Building Council (IGBC) standards, officials told the media. The RBI’s Goa office presently works from rented premises in a privately-held building at Patto. The challenges that lie ahead are the timely development of the office building while at the same time, the construction should be environment-friendly and energy-efficient, without compromising on the quality and structural soundness, said Das, who was in Goa for a short visit to lay the foundation stone. The Economic Development Corporation (EDC), the state-run non-banking finance firm, assigned the plot to the RBI for Rs 30.3 crore, excluding Goods and Services Tax (GST) and stamp duty. The plot near the LIC divisional office was originally sold to Air India but was never used. The EDC has allocated the plot on a long lease to the RBI and the possession continues to remain with the EDC. The RBI will additionally pay the EDC a yearly rent for the plot. Speaking at the event, Das told the media that despite the difficulties posed by the Covid pandemic, the RBI has pro-actively worked to provide stability to the economy and the banking system by taking up various conventional and unconventional steps. RBI officials told the media that the construction agreement for the office building has been given to the Central Public Works Department (CPWD) and that the building will have an “iconic” design. Image Source Also read: RBI to hold lending rate steady at 4% to aid economic recovery

Next Story
Infrastructure Urban

India To Invest $37 Billion To Boost Petrochemical Capacity

India is set to become a major global player in the petrochemicals industry, driven by a planned capital expenditure of $37 billion (Rs 3.1 trillion) aimed at reducing import dependency and enhancing self-sufficiency, according to S&P Global Ratings.In its latest report titled “First China, Now India: Self-Sufficiency Goals Will Add To Petrochemicals Supply”, S&P said India’s large-scale capacity expansion—mirroring China’s earlier push—will likely intensify oversupply pressures in Asia’s petrochemical markets.Currently the world’s third-largest petrochemical consumer a..

Next Story
Infrastructure Transport

Indian Railways Expands Global Exports Of Rail Equipment

Indian Railways has announced that it is rapidly emerging as a global exporter of railway equipment, including bogies, coaches, locomotives, and propulsion systems, under the government’s ‘Make in India, Make for the World’ initiative.According to an official statement, India’s railway products are now reaching over 16 international markets, reflecting the country’s growing capacity to design, develop, and deliver world-class rail solutions.Metro coaches have been exported to Australia and Canada; bogies to the United Kingdom, Saudi Arabia, France, and Australia; propulsion systems t..

Next Story
Infrastructure Transport

RailTel Awards Rs 163 Million Contract To RTNS Technology

RailTel Corporation of India Limited (RailTel), a Mini Ratna Public Sector Undertaking, has awarded a domestic work order worth Rs 163 million to RTNS Technology Private Limited.The contract, issued on 30 September 2025, involves the supply and installation of equipment and related services for one of RailTel’s key customers. The project underscores RailTel’s commitment to advancing technology and communication infrastructure through collaboration with domestic system integrators.RTNS Technology Private Limited, an ISO-certified system integrator, provides comprehensive solutions for perim..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?