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“Mumbai’s next landmark redevelopment edges closer to reality.”

Four Developers Shortlisted for RLDA’s ₹10,000-Crore Mahalaxmi Mega Project.                                                                                                                                  

The Railway Land Development Authority (RLDA) has shortlisted four out of 16 developers for the redevelopment of a prime 2.5-acre land parcel in South Mumbai’s upscale Mahalaxmi locality. The project, with an estimated revenue potential of ₹10,000 crore, saw intense competition from leading real estate firms during the e-bidding conducted on Tuesday. The shortlisted developers include Lodha Group, Sobha Ltd., Dineshchandra R. Agrawal Infracon, and Millennia Realtors. Major players such as Godrej Properties, L&T Realty, Oberoi Realty, and K Raheja Corp did not qualify and are reportedly exploring legal options over alleged lenient criteria. The land, overlooking the Mahalaxmi Racecourse, offers nearly 850,000 sq ft development potential with expected RLDA revenue of ₹4,000–5,000 crore under a revenue-sharing model. The final award will follow detailed evaluations of technical and financial bids.