India, Feb. 5 -- The Reserve Bank of India (RBI) has offered Rs.2,650 crore to the Mumbai Metro Rail Corporation Limited (MMRCL) for a 4.12-acre plot at Nariman Point on a long-term lease to expand its headquarters in south Mumbai.

The plot has a development potential of 1.6 million sq ft, out of which 113,500 sq ft would have to be handed over to the state for rehabilitation of properties that existed earlier on the land. MMRCL had put the plot up for a 90-year lease in October through international property consultant Knight Frank.

An official aware of the discussions between the two parties said the RBI's offer was around 25% more than what MMRCL expected to fetch for the plot. HT had earlier reported officials saying that the centra...