MUMBAI: The Rail Land Development Authority (RLDA), a statutory body under the Ministry of Railways, has invited bids for the prime commercial and residential development of a railway land parcel measuring more than 10,000 sq metres in Mahalaxmi.
The site holds tremendous potential for high-end residential developments, luxury hotels, and Grade-A office spaces. The development of this railway land parcel is expected to positively impact the surrounding areas by driving economic growth and creating new job opportunities. Additionally, it will contribute to the ongoing transformation of Mumbai’s skyline, adding iconic structures that reflect the city’s aspirations and dynamism.
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.
“Given its prime location, this site represents a unique opportunity for developers to create something truly remarkable,” said an RLDA spokesperson. “We expect strong interest in this bid due to the substantial potential for high-end projects.”
The site boasts a 133.3-metrefrontage along Dr. E Moses Road, a major thoroughfare measuring 30.48 metre wide, as well as a 32.3 metr frontage along Shakti Mill Lane, which is 13.4 meters wide and slated for expansion under BMC’s development plans. This dual-road access enhances the plot’s suitability for a mix of commercial and residential projects.
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. “We anticipate robust competition for this development opportunity,” said a senior RLDA official. “The successful bidder will have the chance to create a landmark development that sets new standards for luxury and innovation in Mumbai’s real estate market.”
Source Homevior.in
