Rail Land Development Authority Offers Prime Plot in Mahalaxmi, Mumbai for Redevelopment
The Indian Railways' nodal agency, Rail Land Development Authority (RLDA), has invited bids for a 10,000+ sq. meter plot in Mahalaxmi, Mumbai, with a reserve price of INR 805 crore, offering a lucrative opportunity for developers to create premium project
Rail Land Development AuthorityMumbaiMahalaxmiIndian RailwaysTransitoriented DevelopmentReal Estate MumbaiOct 01, 2024
Mahalaxmi, known for its vibrant atmosphere, excellent connectivity, and upscale neighborhoods, offers an attractive proposition for developers looking to create high-end projects. The area is well-connected to major parts of the city, including the airport, and boasts of prominent landmarks, including the Mahalaxmi Temple and the Haji Ali Dargah. The RLDA, responsible for the redevelopment of railway land, has been actively promoting the concept of 'Transit-Oriented Development' (TOD), focusing on the creation of compact, walkable, and mixed-use developments around railway stations. By offering this prime plot for redevelopment, the RLDA aims to unlock the potential of the area, fostering a more sustainable and efficient use of urban space.
Information Rail Land Development Authority (RLDA) is a statutory authority under the Indian Railways, responsible for the redevelopment of railway land. The RLDA's primary objective is to generate revenue through the commercial development of railway land, promoting the concept of Transit-Oriented Development (TOD). With a focus on creating compact, walkable, and mixed-use developments around railway stations, the RLDA aims to contribute to the growth of sustainable and efficient urban spaces.
Rail Land Development Authority (RLDA) is a statutory authority under the Indian Railways, established to promote the redevelopment of railway land. With a focus on Transit-Oriented Development (TOD), the RLDA aims to create compact, walkable, and mixed-use developments around railway stations, contributing to the growth of sustainable and efficient urban spaces.
Frequently Asked Questions
What is the reserve price for the plot in Mahalaxmi, Mumbai?
The reserve price for the plot is INR 805 crore.
What is the approximate area of the plot?
The plot measures over 10,000 sq. meters.
What is the primary objective of the Rail Land Development Authority (RLDA)?
The primary objective of the RLDA is to generate revenue through the commercial development of railway land, promoting the concept of Transit-Oriented Development (TOD).
What is Transit-Oriented Development (TOD)?
TOD is a concept that focuses on creating compact, walkable, and mixed-use developments around railway stations, promoting a more sustainable and efficient use of urban space.
Why is Mahalaxmi, Mumbai a sought-after location?
Mahalaxmi is a vibrant area with excellent connectivity, upscale neighborhoods, and prominent landmarks, making it an attractive proposition for developers looking to create high-end projects.
Related News Articles
Aadhar Housing Finance Eyes Sustained Growth of Over 20% in Disbursements and Asset Base
Aadhar Housing Finance projects disbursements and assets under management to grow at over 20% this year
No Reversal on Real Estate LTCG Tweaks: Government Stands Firm
Government sources have confirmed that there will be no reevaluation of the changes made to Long Term Capital Gains tax (LTCG) in the Union Budget, despite concerns over the removal of Indexation benefit on property sales.
Navigating the Industrial REIT Landscape: A SWOT Analysis of EastGroup Properties
EastGroup Properties, a real estate investment trust (REIT) specializing in industrial properties, is at a crossroads in the ever-evolving industrial REIT landscape.
Godrej Group Makes Major Move in Mumbai Real Estate by Acquiring Land for Rs 81 Crore
In a strategic move, Godrej Group, through its real estate subsidiary Anamudi Real Estates, has acquired a significant plot of land in the bustling city of Mumbai for Rs 81 crore. This acquisition marks a major step in the company's expansion plans in one
Why Pattaya is the Next Big Thing for Indian Property Investors
A luxury sea-view condo in Pattaya costs as much as a mid-range apartment in Mumbai. Discover why Pattaya is quickly becoming a hot spot for Indian property investors, offering exceptional value and potential returns.
Akshaya Tritiya: Can It Spark a Surge in Real Estate Demand?
With reduced EMIs making home loans more affordable, Akshaya Tritiya could be the catalyst for a surge in real estate demand, especially in the luxury and high-end market segments.