RBI acquires prime Nariman Point land for ₹3,472 cr for new office complex

The Reserve Bank of India (RBI) has sealed one of the biggest land deals in Mumbai’s commercial property market, purchasing a 4.16-acre prime parcel at Nariman Point from the Mumbai Metro Rail Corporation Ltd (MMRC) for ₹3,471.82 crore. The agreement, registered on September 5, 2025, also carried a stamp duty payment of ₹2,083 crore, according to property transaction data sourced from CRE Matrix – a real estate data analytics firm.

 

The site, located in Mumbai’s iconic Nariman Point business district, will house RBI’s new office complex.

 

The transaction highlights the premium valuation of Nariman Point land, even as new commercial hubs like Bandra-Kurla Complex (BKC) and Lower Parel continue to attract Grade-A occupiers. At over ₹834 crore per acre, this deal sets a new benchmark for institutional land acquisitions in South Mumbai.

 

 

The RBI’s decision to consolidate operations in a new state-of-the-art facility comes at a time when several government and financial institutions are re-evaluating their office requirements to accommodate future growth.

 

The deal price is approximately 50% higher than the prevailing market rate in Nariman Point, underlining both the strategic value of the site and tight supply of such premium land parcels. 

 

Earlier, in 2023, Wadia Group entity Bombay Dyeing and Manufacturing Company sold  its 22-acre land parcel in Worli to Goisu Realty, a subsidiary of Japanese  realty developer Sumitomo for Rs 5,200 crore.

 

Deal Highlights & Context

 

The plot offers a buildable area of around 1.6 million sq ft, including 1.13 lakh sq ft earmarked for rehabilitation obligations.

 

RBI’s buy works out to nearly ₹2.06 lakh per sq m (₹19,100 per sq ft), roughly 50% higher than prevailing market estimates for Nariman Point.

 

The registration was completed on September 5, with a stamp duty of ₹2,083 crore, according to CRE Matrix.