The Rail Land Development Authority (RLDA) of the Indian Railways has invited bids to lease three prime land parcels in Mumbai – located in Bandra East, Parel and Mahalaxmi – on a 99-year lease under a revenue-sharing model. The combined reserve price for the plots has been pegged at Rs 8092.30 crore, with the potential for additional revenue through profit-sharing arrangements with developers.
These land parcels, strategically positioned near key commercial hubs and transport corridors, have been earmarked for high-end residential and commercial development. As per the lease terms, successful bidders will not only have to meet the reserve price thresholds but also share a portion of their profits with RLDA.
Bandra East: Largest, Most Valuable Plot
According to a tender notice issued by RLDA, the largest and most lucrative of the three is a 45,371 sq metre plot in Bandra East, with a reserve price of Rs5,365 crore. Located adjacent to the Western Express Highway and just 300–500 metres from Bandra railway station, the plot offers excellent connectivity and is seen as ideal for premium office and retail development, given its proximity to the Bandra-Kurla Complex (BKC) and Andheri-Kurla Road. The pre-bid meeting for this parcel is scheduled for September 23, with bid submissions due by November 12 at 3:00pm.
Parel Supari Baug: Central Mumbai Opportunity
In Parel’s Supari Baug Colony, a 23,047 sq metre land parcel has been offered at a reserve price of Rs1,734 crore. With access to a 36-metre wide arterial road and located within Central Mumbai’s thriving business and residential ecosystem, this plot is expected to attract considerable interest from developers. The pre-bid meeting for this plot will also be held on September 23, while the bid submission deadline is November 3 by 3:00pm.
Mahalaxmi: Upscale Transformation Zone
The third plot, located in Mahalaxmi, spans 10,801 sq metres and has a reserve price of Rs993.30 crore. This plot is situated along Dr E Moses Road, just 400 metres from Mahalaxmi railway station. Surrounded by luxury developments and offering excellent connectivity to the Science Centre Metro Station, Mahalaxmi Railway Station and the Sant Gadge Maharaj Monorail Station, the plot is expected to draw interest from developers looking to tap into the area’s upscale transformation. The pre-bid meeting for this parcel is set for September 9, 2025, and the bid submission deadline is October 14, 2025, at 3:00 pm.
Incentives Under TOD Policy
“As an added incentive, RLDA has allowed the possibility of enhanced floor space index (FSI) under the National Transit-Oriented Development (TOD) policy,” said an official.
