Major Land Deal at Nariman Point: RBI & MMRCL Transaction Raises Stakes
Sep 22nd, 2025
In a landmark property transaction, the Reserve Bank of India (RBI) has bought a prime 4.2-acre plot at Nariman Point from the Mumbai Metro Rail Corporation Ltd (MMRCL) for ₹3,472 crore. The Times of India The site, with about 16,832 square meters of area and a buildable area of approximately 16 lakh sq ft, will host RBI’s new office complex. This deal, executed at nearly 50% above the previously estimated market price, underscores just how coveted central Mumbai land parcels remain. For the real estate market, this is a signal: prime commercial space remains both scarce and expensive. For MMRCL, the infusion of funds could help shore up financials and support ongoing infrastructure projects. Urban planners and investors will be watching what this means for commercial rental rates and land values in central business districts.
