Oberoi Realty Bags 11-Acre Bandra East Plot for ₹5,400 Crore: Mumbai Real Estate Boost
Mumbai-based real estate developer Oberoi Realty has announced that it emerged as the highest bidder by quoting ₹5,400 crore for the lease of 11 acres of land in Mumbai's Bandra East. The Rail Land Development Authority (RLDA) had floated the bids for the same.
According to the company, it had participated in bids for the grant of a lease for the development of approximately 11 acres of railway land in Bandra East, adjoining the Western Express Highway, Mumbai, for 99 years, with a Floor Space Index (FSI) potential of approximately 19.50 lakh square feet.
Pursuant to the financial bids opened by RLDA on February 4, 2026, the company’s bid at ₹5,400 crore has emerged as the highest. Communication from RLDA for the next steps in the process is awaited, Oberoi Realty said in a regulatory filing on February 4.
The Indian Railways, through its land development arm, the Rail Land Development Authority (RLDA), is planning to raise at least ₹8,000 crore by leasing out key land parcels in Mumbai's real estate market. The RLDA aims to lease approximately 25 acres of land spread across four prime locations in the financial capital.
Oberoi Realty reported a softening of pre-sales run-rate during Q3FY26, in the absence of new launches and lower traction from the Three Sixty West, Elysian, Enigma, and Sky City projects, according to ICICDirect Research. Amid reports of a broader slowdown in housing sales, Vikas Oberoi, Chairman and Managing Director of Mumbai-based listed developer Oberoi Realty, said the company is not witnessing any slowdown and that the softness in the market remains developer-, location-, and product-specific. Oberoi on January 20 during the Q3FY26 earnings call said that the company expects to receive plan approvals for its Gurugram project within the next 30-40 days.
This significant win for Oberoi Realty not only highlights the company’s strategic focus on high-potential locations but also underscores the confidence of investors and developers in Mumbai’s real estate market. The acquisition of the Bandra East plot is expected to contribute to the development of premium residential and commercial projects, further enhancing the city’s skyline and economic landscape.
