In a landmark transaction, the Reserve Bank of India (RBI) has purchased a 4.2-acre (16,832 sq. mtrs.) plot at Nariman Point from Mumbai Metro Rail Corporation (MMRCL) for Rs 3,472 crore to construct its new office complex.

The sale deed was registered on 05 September, 2025, paving the way for RBI to develop one of the last large tracts in the premium business hub. The deal is estimated at nearly 50 percent above prevailing market rates, highlighting its strategic significance. The land allows a buildable area of 16 lakh sq. ft., including 1.13 lakh sq. ft. earmarked for rehabilitation. 

MMRCL had earlier planned to lease the site, expecting at least Rs 5,173 crore, with interest from major players such as Blackstone, Oberoi Realty, RMZ, and Tata Group. However, following RBI’s proposal, the auction was cancelled. An MMRCL spokesperson confirmed, "The Board sanctioned to consider RBI’s proposal appropriately."