Oberoi Realty, Shree Naman in Race for INR 5,365 Cr Railway Land in Bandra as RLDA Pushes Mumbai Land Monetisation

Mumbai - Real estate developers Oberoi Realty and Shree Naman Developers have emerged as eligible bidders for a highly coveted 11.21-acre railway land parcel in Bandra East, Mumbai. The Railway Land Development Authority (RLDA) has pegged the reserve price at ₹5,365 crore, with the allotment to be made under a 99-year lease and revenue-share model.

Key Deal Details

Strategic Importance of the Bandra Parcel

• Located along the Western Express Highway, the site offers direct connectivity to the Bandra-Kurla Complex (BKC) and Andheri-Kurla Road, two of Mumbai's top commercial corridors.
• Its central location and accessibility make it one of the most high-potential land parcels in India's financial capital.
• With an FSI of 4, developers will have the potential to create a substantial built-up area, likely for a mixed-use project with commercial and high-end residential components.

RLDA's Accelerated Land Monetisation in Mumbai

This Bandra deal is part of RLDA's aggressive monetisation strategy in the city. The authority has put three major land parcels on the block in just a few weeks, collectively valued at nearly ₹9,000 crore.

Recent RLDA Land Deals in Mumbai

The Bandra parcel alone could account for over 60% of the total monetisation value from the three recent offerings.

What's Next

Oberoi Realty and Shree Naman Developers will now undergo technical evaluation in the next stage. The final bidder will be expected to commit to a minimum 45% revenue share with RLDA over the lease term.

If successfully concluded, this will become one of the largest urban land transactions in India, reinforcing Bandra East's rise as a next-generation business district.

Conclusion

The Bandra land deal underlines growing investor confidence in Mumbai's core real estate markets and showcases the Railway Land Development Authority's strategic push to unlock value from underutilised public land. For developers, it's a rare opportunity to tap into one of the city's last large-scale, well-connected land parcels, while for the government, it signals a step forward in infrastructure financing through asset monetisation.

With similar high-value developments happening across BKC and surrounding areas, and major players like Oberoi Realty expanding into new markets, this transaction represents a pivotal moment for Mumbai's luxury real estate segment. Other prime locations in the city including Lower Parel, Goregaon East, and Thane continue to witness strong developer interest and commercial activity.