Oberoi Realty has emerged as the highest bidder for an 11-acre railway land parcel in Bandra East, Mumbai. The bid was submitted through a tender conducted by the Rail Land Development Authority (RLDA), under the Ministry of Railways. The company offered ₹5,400 crore for the prime land, exceeding the reserve price.
The land parcel covers around 45,000 square metres and is located near the Western Express Highway. It has strong connectivity to key business and residential areas in Mumbai. The site is also close to the Bandra-Kurla Complex, one of the city’s most important commercial hubs, which adds to its strategic value.
The railway land has been offered on a 99-year lease as part of RLDA’s land monetisation programme. Under the lease terms, the selected developer will share a portion of project revenue with RLDA over the lease period. Based on permissible development norms, the site offers a potential built-up area of nearly 19.5 lakh square feet.
The bidding process included technical evaluation followed by financial bid opening. Several real estate developers participated in the tender, highlighting continued demand for large land parcels in prime Mumbai locations. Oberoi Realty’s bid was the highest among all eligible participants.
Following the opening of financial bids, RLDA is expected to move ahead with formal documentation and lease execution. The process will be subject to statutory approvals and compliance with tender conditions. Payments will be made as per the agreed schedule before possession of the land is handed over.
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