RBI Acquires 4.16 Acres at Nariman Point from Mumbai Metro for ₹3,472 Crore

The Reserve Bank of India (RBI) has bought a 4.16-acre plot at Nariman Point, Mumbai, from the Mumbai Metro Rail Corporation Ltd (MMRCL) for ₹3,471.82 crore. The transaction was registered on September 5, 2025, with a stamp duty payment of ₹208.3 crore, as per the CRE Matrix reports..

Transfer and Rights

In March 2023, the Maharashtra government transferred the land to MMRCL with full rights to use, transfer, or sell. MMRCL later invited global bids for the plot in October 2024, setting a reserve price of ₹5,173 crore. The RBI secured the land for a lower amount on a 90-year lease.

Intended Use

The RBI has purchased the parcel for self-use and commercial purposes. The central bank’s headquarters are located in Fort, South Mumbai, and it has been seeking new premises with at least 30,000 sq ft of space over the past 4 years. The acquired land offers a buildable potential of about 1.6 million sq ft.

Rehabilitation Settlement

The site previously housed government departments and a political party in an area measuring 113,500 sq ft. These offices required relocation to allow the land transfer. RBI was initially expected to provide alternate premises, but instead paid ₹600.82 crore to cover rehabilitation costs. The payment waived any future obligations linked to the site.

Development and Funding

The land will be transferred to the RBI on a freehold basis. Nariman Point is a prime commercial district housing major offices and institutions. Proceeds from the transaction will help MMRCL repay part of its loan from the Japan International Cooperation Agency (JICA) for the Colaba-Bandra-SEEPZ metro line, built at a revised cost of ₹37,276 crore, with ₹21,280 crore funded by JICA.

Read more: Why is the RBI Diversifying its Reserves? India’s Shift From US Treasuries to Gold Explained! 

Conclusion

The transaction provides the RBI with a new land parcel in South Mumbai while supporting MMRCL’s debt repayments for the city’s underground metro project.

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