All three land parcels are being offered for a 99-year lease period, signalling a long-term vision for urban development. The RLDA has opted for an e-tendering single-stage, two-cover bidding system to ensure a transparent process for attracting developers.

Analysis: A Dual Boost for Railways and Real Estate

A Financial Lifeline for Indian Railways For Indian Railways, this land monetisation drive represents a significant step towards unlocking the value of its extensive, yet often underutilised, land assets. The influx of over ₹8,092 crore from just these three parcels will provide a substantial financial boost, creating a crucial revenue stream outside of traditional passenger and freight operations. These funds can be strategically reinvested into modernising railway infrastructure, enhancing safety features, improving passenger amenities, and funding critical new projects, thereby reducing its dependency on government funding.

Impact on Mumbai’s Real Estate Market For Mumbai, a city perpetually constrained by a lack of available land, the release of nearly 20 acres in prime central locations is a major development. The creation of new commercial and residential stock in high-density areas like Bandra, Parel, and Mahalaxmi is expected to invigorate the real estate market. This infusion of supply could help rationalise property prices in these micro-markets and offer new opportunities for both homebuyers and businesses. Furthermore, such large-scale projects often act as catalysts for ancillary development, leading to upgraded local infrastructure and improved connectivity, benefiting the surrounding communities.

Here are the specific details of each tender:

Bandra East: A Commercial Hub in the Making

A sprawling 45,371.00 sq m of railway land in Bandra East, adjoining the Western Express Highway, is up for commercial development. With a reserve price of ₹5,365 crore, this is the most valuable of the three parcels. The site boasts a Floor Space Index (FSI) of 4.0 and a minimum revenue share of 45% for the RLDA.

Key Dates & Information:

• Commencement of e-bid document download: September 9, 2025, at 18:00 hrs.
• Pre-Bid Meeting: September 23, 2025, at 11:30 hrs.
• Last date for receiving queries: October 6, 2025, up to 18:00 hrs.
• Last date for e-bid submission: November 12, 2025, up to 15:00 hrs.
• Opening of e-Bids: November 12, 2025, at 15:30 hrs.
• Bid Security: ₹5.00 Crore.

Parel: Residential Development in a Prime Location

In Parel, the RLDA is offering approximately 23,047.23 sq m of land for residential development at Supari Baug Colony. This project also includes the redevelopment of the existing railway colony on an adjacent 10,000 sq m of land. The reserve price for this parcel is set at ₹1,734 crore, with an estimated redevelopment cost of ₹391.00 crore. The FSI is 4.05, and the minimum revenue share is 30%.

Key Dates & Information:

• Commencement of e-bid document download: September 9, 2025, at 18:00 hrs.
• Pre-Bid Meeting: September 23, 2025, at 16:00 hrs.
• Last date for receiving queries: October 1, 2025, up to 18:00 hrs.
• Last date for e-bid submission: November 3, 2025, up to 15:00 hrs.
• Opening of e-Bids: November 3, 2025, at 15:30 hrs.
• Bid Security: ₹5.00 Crore.

Mahalaxmi: A Blend of Residential and Commercial Potential

The third offering is a 10,801.70 sq m plot in the upscale locality of Mahalaxmi, intended for residential or commercial development. This parcel carries a reserve price of ₹993.30 crore and an FSI of 4.05. The minimum revenue share for the RLDA from this project is pegged at 35%.

Key Dates & Information:

• Commencement of e-bid document download: August 22, 2025, at 18:00 hrs.
• Pre-Bid Meeting: September 9, 2025, at 11:30 hrs.
• Last date for receiving queries: September 12, 2025, up to 16:00 hrs.
• Last date for e-bid submission: October 14, 2025, up to 15:00 hrs.
• Opening of e-Bids: October 14, 2025, at 15:30 hrs.
• Bid Security: ₹5.00 Crore.

Also Read: Railways Floats Tender for 99-Year Lease of Mahalaxmi Railway Land Worth Nearly ₹1,000 Crore

The post Railways to Monetise Nearly 20 Acres of Prime Mumbai Land for Over ₹8,092 Crore appeared first on Square Feat India.

The Rail Land Development Authority (RLDA), a statutory authority under the Ministry of Railways, has invited proposals for the grant of lease for residential and commercial development of approximately 10,801.70 sqm of railway land in Mahalaxmi, Mumbai. The lease will be offered for 99 years, opening up one of the city’s most lucrative redevelopment opportunities.

Key Details of the Tender

• Location: Mahalaxmi, Mumbai
• Site Area: 10,801.70 sqm
• Permissible FSI: 4.05
• Reserve Price (NPV): ₹993.30 crore
• Revenue Share (Minimum): 35%

The project is expected to attract major real estate players given the prime location and scale of development potential.

Important Dates

• E-bid document download begins: August 22, 2025 (18:00 hrs)
• Pre-bid meeting: September 9, 2025 (11:30 hrs, offline)
• Last date for queries: September 12, 2025 (16:00 hrs)
• Replies to queries & amendments: September 19, 2025 (18:00 hrs)
• E-bid submission deadline: October 14, 2025 (14:00 hrs)
• Opening of e-bids: October 14, 2025 (15:30 hrs)

Fees & Security Deposit

• Registration Charges: ₹2,500 (non-refundable)
• Bid Processing Fee: 0.05% of Reserve Price (₹550 – ₹5,000 + GST cap)
• Bid Document Fee: ₹1,18,000 (including GST)
• Bid Security: ₹5 crore

Contact Points

For project details, bidders may contact:

• Shri D.K. Mishra, Chief Project Manager (Mumbai) – cpm.mumbairlda@gmail.com
• Shri Prakash Chandel, Joint GM (Projects) – jgmpmumrlda@gmail.com

Additional consultant details and tender support contacts are available in the RFP document.

Why This Matters

The Mahalaxmi parcel sits in the heart of Mumbai, one of India’s most expensive and supply-constrained real estate markets. With a reserve price of nearly ₹1,000 crore and a mandatory revenue share component, this tender underscores Indian Railways’ push to monetize prime urban land and create mixed-use developments.

Industry experts expect intense competition among leading developers, with the project likely to shape Mumbai’s real estate landscape in the coming years.

Also Read: MHADA To Hold Street Plays, Stall at Railway Station To Get buyers for Homes

The post Railways Floats Tender for 99-Year Lease of Mahalaxmi Railway Land Worth Nearly ₹1,000 Crore appeared first on Square Feat India.

By Varun Singh

Manoj H Modi, a close aide of Reliance Industries Chairman Mukesh Ambani, has sold two apartments in Mumbai for a total value of Rs 41.5 crore.

According to Registration documents made available to SquareFeatIndia by ‘Indextap.com‘ the deal was registered on July 7, this year.

Both the flats sold by Modi are in the building Vivaria, located at Jacob Circle, a stones throw distance from Mahalaxmi station.

The first flat sold by Modi is on the 28th floor of the apartment, measuring 2,597 sq ft, for which the buyer paid Rs 20.5 crore, along with the apartment, the new buyer also has an access to two car parks in the building.

For the registration of the flat on 28th floor the a stamp duty of Rs 1.23 crore was paid.

the second flat that Modi sold is on the 29th floor of the building and it also measures, 2,597 sq ft for which the buyer paid Rs 21 crore. along with the apartment the buyer has also got an access to two car parks in the building.

A stamp duty of Rs 1.26 crore was paid by the buyer for the registration of the apartment.

Vivaria holds a special value when it comes to the real estate market of South Mumbai, most top notch from the business world had or have a house here.

This building offers a view of the Mahalaxmi race course and a little ahead of it is the sea view.

Also Read: Nirav Modi’s watch sold at a price, for which one can buy a HOUSE in Mumbai

The post Manoj Modi sells 2 flats in Byculla for Rs 41.5 Cr appeared first on Square Feat India.