Prime Railway Land in Mumbai Up for Long-Term Lease: Bids Invited for 3 Sites

Mumbai: The Rail Land Development Authority (RLDA) has invited e-bids for the long-term lease of prime railway land across Mumbai for residential and commercial development. The sites include a 10,801 sq m plot in Mahalaxmi, a 23,047 sq m plot in Parel, and a 45,371 sq m plot in Bandra (East), with lease periods of 99 years.

The sites, respectively, have reserve prices (valuations) of Rs 993 crore, Rs 1,734 crore, and Rs 5,365 crore. All are near key business hubs and transport networks, which makes them highly attractive for developers. Bids for the Mahalaxmi and Parel sites are due by October 14 and November 3, while the Bandra (East) deadline is November 12.

At the Mahalaxmi site, the FSI is 4.05. It is well connected via Dr E Moses Road and Shakti Mill Lane and located adjacent to the railway line along Mahalaxmi station. “The site is near the Science Centre Metro station and enjoys excellent access to business hubs such as Lower Parel, Nariman Point, and BKC,” an official from RLDA said.

The FSI for the Parel site, at Supari Baug Colony, is also 4.05. An official said the location is easily accessible from the main arterial 36-metre-wide road (Ambedkar Marg). “The site has clear title land and is free from encumbrances such as encroachments,” the official said. It is easily accessible for key business hubs such as Parel, Lower Parel, and Nariman Point and is in close proximity to established residential micro-markets and to the central Mumbai business district. The last date for submission of bids for this plot is November 3.

The FSI for the third site in Bandra (East), adjoining Western Express Highway, is 4. “This plot is well-connected via Station Road, which will boost footfall for the commercial spaces, shops, and restaurants that can be developed here. There is proposed connectivity to WEH and it is just 300-500 metres from Bandra station's east. Also, it is just 1.5-2km away from an upcoming Metro station and is ideal for office and retail access,” an official said. The plot, which is free from encumbrances and with negligible vegetation, is close to key commercial hubs such as BKC and Andheri-Kurla Road.

A senior railway officer said the Mahalaxmi plot is an empty plot, covered with weeds and shrubs. “It is not a question of developing the plot to earn revenue or profit. The project will ensure that a prime piece of property is not wasted. RLDA has floated the e-tenders with the objective to get prospective contractors who can develop this and create more residential and commercial spaces on long lease.”