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.