Mumbai, Jan 20 (PTI) The Mumbai Metro Rail Corporation on Monday said it has cancelled a tender for property development at Nariman Point, a premium business district in south Mumbai, on the request of Reserve Bank of India (RBI).

The MMRC board cancelled the project on receiving "a formal request from the Reserve Bank of India (RBI) for land at Nariman Point for their offices", a release said.

"Subsequent to RBI's request for this land parcel, the MMRC Board has approved to consider the proposal appropriately," the MMRC release stated.

MMRC is executing Mumbai's only underground metro rail corridor between Colaba-BKC-Aarey.

The release said MMRC had issued a Request for Proposal (RFP) for property development at this premium location via the CPPP Portal on October 3, 2024.

The RFP was widely disseminated through publications in prominent national and international newspapers and MMRC had also conducted outreach through roadshows in Mumbai, Bengaluru, and Delhi in the month of October and November, it added.

MMRC spokesperson Vaidehi More did not provide details about the size of the land parcel. PTI KK BNM

Tender cancellation for premium land halted after a formal institutional request; procurement process paused to consider alternative allocation. MMRC cancelled the Nariman Point property development tender on receipt of a formal institutional request for the land, withdrawing the RFP issued via the CPPP portal and pausing the competitive procurement process so the institution's proposal can be considered; prior public dissemination and outreach had occurred, and the land parcel size was not disclosed.