Real Estate Mumbai

Prime Mumbai Land Parcel Up for Grabs: RLDA Invites Bids for 10000 sqm Property in Mahalaxmi

By GeoSquare News Desk · Published 2024-09-27

Mumbai's real estate market is set to witness a new wave of development, as the Rail Land Development Authority (RLDA) has invited bids for the prime commercial and residential development of a railway land parcel measuring over 10,000 sq metres in Mahalaxmi.

The site, which holds tremendous potential for high-end residential developments, luxury hotels, and Grade-A office spaces, is expected to positively impact the surrounding areas by driving economic growth and creating new job opportunities.

Covering approximately 10,801.7 square metres, this site offers a significant opportunity for developers, featuring an effective Floor Space Index (FSI) of 4.05. The reserve price for the property is set at ₹805 crore, reflecting the high potential for premium projects in this sought-after location.

The site boasts a 133.3-metre frontage along Dr. E Moses Road, a major thoroughfare measuring 30.48 metre wide, as well as a 32.3 metre frontage along Shakti Mill Lane, which is 13.4 meters wide and slated for expansion under BMC's development plans.

With breathtaking views of the Arabian Sea and the iconic Mahalaxmi Racecourse, the project could cater to the ultra-luxury market, attracting both affluent residential buyers and corporate clients seeking premium office spaces.

Plans for the development may include state-of-the-art amenities, landscaped gardens, and modern infrastructure, creating a world-class living and working environment.

RLDA's invitation for bids has generated considerable interest among leading developers and investors. \