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.

Real Estate

11 Nov 2025

Hettich Showcases ‘Magical Motion’ Innovations at Acetech 2025

Staying true to its promise of ‘Magical Interior Experiences’, Hettich unveiled a futuristic showcase at Acetech 2025, reimagining the future of modern living and workspaces through innovative German engineering. As an Associate Partner, Hettich’s exhibit captivated visitors with the SpinLines family, headlined by its latest innovation — RoomSpin. This choreographed interior system transforms entire spaces within seconds by rotating room modules to create dynamic, flexible environments. Engineered with precision turning and swivelling mechanisms, it enables architects and designer..

HPWWI, Biesse Partner to Boost Woodworking Skill Development

The Hettich Poddar Wood Working Institute (HPWWI) has signed a Memorandum of Understanding (MoU) with Biesse, strengthening efforts to advance skill development in India’s woodworking sector.The partnership will enhance training in advanced woodworking machinery, helping learners integrate modern technology into traditional craftsmanship. It marks the second collaboration between HPWWI and Biesse — after Faridabad — now expanding to Bhandup, Mumbai, symbolising Biesse’s entry into India’s financial capital.Mr Amit Prasad, CHRO, Hettich India & Director, HPWWI, said, “At HPWWI, ..

ITA launches India programme to boost clean industry projects

The Industrial Transition Accelerator (ITA) has launched its India Project Support Programme and released the India Insights Briefing: Unlocking India’s Clean Industrialisation Opportunity, developed with Boston Consulting Group (BCG). The initiative seeks to accelerate investment-ready decarbonisation projects and drive low-carbon growth across India’s key industrial sectors. A global multi-stakeholder initiative launched at COP28, the ITA’s new programme aims to fast-track flagship industrial projects in sectors such as chemicals, steel, cement, aluminium, aviation, and shipping, supp..