Oberoi, Shree Naman Bid For Bandra East Rail Land

12 Jan 2026 CW Team

Shree Naman Developers and Oberoi Realty have emerged as the only eligible bidders for the high-value Bandra East railway land parcel being leased for commercial development by the Railway Land Development Authority, according to real estate industry sources.

Bids for the plot were opened on January 8. While eight developers had submitted applications, only two met the eligibility criteria, sources said. Both Shree Naman Developers and Oberoi Realty have now qualified for the next stage of technical evaluation.

The RLDA is offering a 99-year lease for commercial development of around 45,371 sq metres of railway land at Bandra East, located adjacent to the Western Express Highway in Mumbai. Given its strategic location and development potential, the parcel has attracted strong interest from leading real estate players.

A developer associated with one of the bidders said the site’s connectivity and market prospects were key factors behind participation in the auction. The Bandra East plot carries a reserve price of Rs 53.65 billion and is expected to rank among the most expensive real estate transactions in Mumbai if the lease is finalised.

The Bandra East parcel is one of three railway land plots offered by the RLDA. The remaining two parcels, located at Supari Baug Colony in Parel and at Mahalaxmi, have already attracted bids from Dineshchandra R. Agrawal Infracon.

RLDA aims to generate non-fare revenue for Indian Railways while encouraging private sector participation in urban redevelopment. The long-term leasing model is designed to unlock the value of prime railway land, support infrastructure funding and enable planned commercial development in major cities.

Real Estate

13 Jan 2026

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