Three plots in Mahalaxmi, Bandra East, Supari Baug Colony: Railway land valued at over Rs 8,092 cr to be commercially developed

RLDA has fixed September 23 for the pre-bid meeting and November 12 as the bid submission deadline.

The Mahalaxmi plot covers approximately 10,801 sqm and is located in the vicinity of Mahalaxmi railway station. It is near Lower Parel, Nariman Point and the Science Centre Metro station, providing connectivity to business as well as residential centres. The reserve price for the land parcel is Rs 993.30 crore, with the pre-bid meeting on September 23 and online submission deadline fixed as November 12. The location provides a Floor Space Index (FSI) of 4.05.

The Supari Baug Colony plot in Parel is spread across 23,047 sqm. It is situated off Dr Babasaheb Ambedkar Road and is near Parel and Lower Parel commercial areas and within easy reach of Nariman Point. The reserve price has been fixed at Rs 1,734 crore. Pre-bid meeting will take place on September 23 and online submission is on or before November 3.

“The sites are being put on long-term lease to raise non-tariff income and create railway assets. The projects will draw real estate developers due to their central locations and closeness to transportation corridors,” an RLDA spokesperson said.

A statutory body of the Ministry of Railways, RLDA is tasked with developing railway land and airspace all over India. It has been utilising surplus and underutilised plots to generate funds for Indian Railways in terms of commercial ventures, residential complexes and mixed use models.

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