Prime Mumbai Land Parcel Up for Grabs: RLDA Invites Bids for 10000 sqm Property in Mahalaxmi
The reserve price for the property is set at ₹805 crore, reflecting its high potential for premium projects in this sought-after location.
Mumbai Real EstateRldaRailway Land DevelopmentLuxury PropertiesCommercial DevelopmentReal Estate MumbaiSep 26, 2024
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. \
Frequently Asked Questions
What is the size of the land parcel up for bidding?
The land parcel measures over 10,000 sq metres.
What is the reserve price for the property?
The reserve price is set at ₹805 crore.
What type of development is expected on the site?
The site is expected to be developed into high-end residential, luxury hotels, and Grade-A office spaces.
What is the Floor Space Index (FSI) of the site?
The effective FSI of the site is 4.05.
Who is responsible for the development of the railway land?
The Rail Land Development Authority (RLDA) is responsible for the development of the railway land.
Related News Articles
Nepal's Power Exports to India Get a Boost with Additional 251 MW Approval
Nepal's power exports to India have received a significant boost with the approval of an additional 251 MW of electricity exports from 12 hydropower projects.
India's Rise as a Hub for Global Capability Centres: A Boost to Commercial Real Estate
Global Capability Centres (GCCs) are on the rise in India, with several multinational corporations setting up their GCCs in cities like Bengaluru, Hyderabad, Chennai, Pune, Delhi-NCR, and Mumbai.
Emerald Haven Realty Expands Portfolio with INR 900 Crore Investment in Bengaluru and Chennai
Emerald Haven Realty, a subsidiary of TVS Holdings, has made a significant expansion in its real estate portfolio with the acquisition of two prime land parcels in Bengaluru and Chennai.
Godrej Properties Acquires 6 Land Parcels to Develop New Projects Worth Rs 1,500 Crore
Godrej Properties, a leading real estate developer in India, has recently acquired six land parcels in key locations to develop new projects worth Rs 1,500 crore. The company has a strong presence in major cities such as Delhi-NCR and Mumbai Metropolitan
Aayush Sharma and Arpita Khan Sharma Sell Bandra Home for Rs 22 Crores
Located in the Khar West suburb of Mumbai, the property is situated on the 12th floor of Satguru Developers' Flying Carpet skyscraper. The apartment, spanning 3,000 square feet, has been a cherished home for the couple, but now they have decided to move o
Markets Close Lower as FIIs Offloading and Rupee Weakness Impact Investor Sentiment
The week begins with a downward trend as Foreign Institutional Investors (FIIs) increase selling and the rupee weakens, affecting investor confidence.