Oberoi Realty, Naman Group Vie for ₹5,365 Cr Bandra Rail Plot

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AuthorIshaan Verma|Published at:
Oberoi Realty, Naman Group Vie for ₹5,365 Cr Bandra Rail Plot
Overview

Oberoi Realty and Shree Naman Group are leading the bids for an 11-acre Indian Railways plot in Bandra, Mumbai. The land, with a reserve price of ₹5,365 crore, is slated for a 99-year lease and a mixed-use development featuring commercial and residential spaces. The railway authority mandates a significant revenue share from the winning bidder.

Prime Bandra Land Auction Attracts Top Developers

Mumbai's real estate scene is buzzing as Oberoi Realty and Shree Naman Group emerge as the frontrunners in the bidding for a significant 11-acre plot owned by Indian Railways in Bandra (East). The Rail Land Development Authority (RLDA) is overseeing the auction for this prime parcel, which is leased for 99 years.

Auction Details and Reserve Price

The land parcel, strategically positioned between the Western Railway tracks and the Western Express Highway, carries a substantial reserve price of ₹5,365 crore. Its proximity to the Bandra Kurla Complex business district enhances its commercial and residential development potential. The RLDA also stipulated that the winning bidder must share at least 45 percent of the revenue generated from the project.

Development Potential and Market Dynamics

With a Floor-Space Index (FSI) of 4.0, the plot offers a developable area estimated between 1.9 to 2 million square feet. Developers are weighing strategies for a mixed-use project, incorporating commercial, residential, and retail components. Market observers note that home prices in the immediate vicinity are around ₹60,000-65,000 per square foot, presenting a discount compared to Bandra West or the core BKC area. This could influence the developer's decision to prioritize residential sales or pursue rental income from commercial spaces.

Railway Land Monetization Strategy

This Bandra land deal is part of a broader initiative by Indian Railways to monetize its vast land holdings across Mumbai. In a similar transaction in December 2025, infrastructure firm Dineshchandra R Agarwal Infracon successfully bid ₹1,368 crore for a 6-acre railway plot in Parel. RLDA continues to identify other Mumbai locations, including Thane and Mahalaxmi, for similar monetization efforts.

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