The Reserve Bank of India (RBI) has invited bids for the construction of its new central office building at Nariman Point in Mumbai. The project carries an estimated cost of 1,586 INR-Crore. RBI will execute the development on a Design and Build basis through a two-stage, two-envelope techno-commercial bidding process. The project has a scheduled construction period of 60 months.
The RBI Nariman Point office building will be developed on an anticipated 4.2-Acre land parcel acquired from Mumbai Metro Rail Corporation Limited (MMRCL) in 2025. The site offers a development potential of nearly 1.6 Million-SqFt, including the rehabilitation component. Additionally, bidders must submit multiple architectural concept designs during the first stage of the tender process. RBI has also specified an earnest money deposit of 31.72 INR-Crore. The successful contractor must furnish a performance security equal to 5% of the accepted contract value.
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The RBI Nariman Point office building will add a major institutional development to Mumbai’s central business district. Furthermore, the project will utilize one of the city’s last large contiguous land parcels. The development is expected to strengthen RBI’s long-term office infrastructure while supporting construction activity in South Mumbai.
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Disclaimer: The information herein is based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. Furthermore, the image featured in this article is for representation purposes only. It does not in any way represent the project. If you wish to remove or edit the article, please email editor@biltrax.com.
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