The Reserve Bank of India has finalised one of the costliest land deals of the year. RBI bought 4.61 acres of land at Nariman Point, South Mumbai, for Rs 3472 crore from Metro Rail Corporation Limited, marking a record-breaking purchase.
The land is located near key institutions such as Mantralaya, Bombay High Court, and several corporate headquarters. Initially planned for auction, the deal was finalised directly with RBI, which was looking to expand its headquarters in Mumbai.
On September 5, both sides reached an understanding. RBI also paid Rs 208 crore in stamp duty, showing its strong intent to invest in prime fixed assets in the city. It already owns valuable property on Mint Road.
The purchase reflects RBI’s focus on organisational growth with premium properties. Meanwhile, Metro Rail Corporation Limited is selling land parcels in South and Central Mumbai, aiming to redirect funds towards new investments and development projects.
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