Mumbai’s premium real estate heats up as top developers eye ₹5,365-crore railway land deal.

Oberoi Realty, Shree Naman Compete for Prime 11.21-Acre Railway Land in Bandra.

Oberoi Realty and Shree Naman Developers have emerged as eligible bidders for a prime 11.21-acre railway land parcel in Mumbai’s Bandra East, offered by the Railway Land Development Authority (RLDA) at a reserve price of ₹5,365 crore. The land, located along the Western Express Highway near key business hubs like Bandra-Kurla Complex (BKC) and Andheri-Kurla Road, will be allotted on a 99-year lease under a revenue-sharing model with a base FSI of four. As per tender conditions, the selected developer must share at least 45% of project revenue with the Railways. This marks the third major land monetisation by RLDA in Mumbai in recent weeks, taking the total deal value close to ₹9,000 crore. Earlier, railway land in Parel and Mahalaxmi fetched record bids of ₹1,368 crore and ₹2,250 crore, respectively. The strong response highlights growing developer interest in premium urban redevelopment opportunities amid rising demand for luxury housing and commercial spaces in Mumbai.