The Indian Railways, via its land development arm, the Rail Land Development Authority (RLDA), is set to raise at least Rs 80 billion by leasing key land parcels in Mumbai’s real estate market. The authority aims to monetise around 25 acres across four prime locations in the financial capital.

1) Bandra West Staff Quarters (5–6 acres)

The Bandra West plot, spanning five acres, currently houses railway staff quarters built in 1955. RLDA plans to relocate staff into a 25-storey high-rise and monetise the remaining land for commercial development. Details such as reserve price, lease tenure, and permissible Floor Space Index (FSI) are being finalised.

2) Mahalaxmi (2.66 acres)

Bids have been floated for a 2.66-acre plot near Mahalaxmi railway station, with an FSI potential of 4.0. RLDA expects to raise nearly Rs 10 billion through a 99-year lease, with options for residential and commercial development.

3) Parel (5.69 acres)

The Parel plot, offered on a 99-year lease, has a residential development potential with an FSI of 4.05. The lease is expected to generate over Rs 17 billion for the rail authority.

4) Bandra East (11.2 acres)

The largest parcel, located outside Bandra East railway station, spans 11.2 acres. RLDA aims to raise over Rs 53 billion by leasing this land, earmarked for commercial development with an FSI of 4.0.