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.
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