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RLDA Opens Bids for Three Prime Mumbai Plots on 99-Year Leases With Revenue-Share Terms

The shift is designed to raise non-fare income by monetising centrally located rail land through long leases.

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For the plot opposite the racecourse at Mahalaxmi, the base price has been set at ₹993 crore (Hindustan Times)
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Representational image of vacant land belonging to the railways | X/@Indianinfoguide

Overview

  • The Rail Land Development Authority invited tenders to develop parcels in Bandra East, Parel (Supari Baug) and Mahalaxmi under a revenue-sharing model.
  • Reserve prices are set at Rs 5,365 crore for Bandra East, Rs 1,734 crore for Parel and Rs 993.30 crore for Mahalaxmi, totaling a little over Rs 8,000 crore.
  • According to an RLDA official, the first-time revenue-share framework includes reported minimum shares of 45% for Bandra East, 30% for Parel and 35% for Mahalaxmi.
  • Pre-bid meetings are scheduled this month with online submissions due in October–November 2025, including a November 3 deadline for the Parel plot.
  • Developers must execute construction and obtain approvals, with permitted FSI of 4 at Bandra East and 4.05 at Parel and Mahalaxmi plus potential enhancement under the National TOD policy.