Oberoi Realty Wins ₹5,400 Cr Bid for Bandra East Railway Land

• ₹5,400 crore bid for a 99-year lease of 11 acres in Bandra East

• Development potential of around 19.5 lakh sq ft near Western Express Highway

• Part of a wider railway land monetisation drive in Mumbai

Mumbai’s real estate market witnessed a major development on February 4, as Oberoi Realty emerged as the highest bidder for a prime railway-owned land parcel in Bandra East. The company quoted ₹5,400 crore to lease approximately 11 acres of land for 99 years, according to a regulatory filing.

The plot, owned by the Rail Land Development Authority (RLDA), is strategically located adjoining the Western Express Highway and offers a development potential of nearly 19.5 lakh square feet of floor space index (FSI). Financial bids were opened on February 4, with Oberoi Realty’s offer emerging as the highest. The developer said it is now awaiting formal communication from RLDA on the next steps in the process.

This transaction forms part of a broader land monetisation push by Indian Railways through RLDA. The authority plans to raise at least ₹8,000 crore by leasing out about 25 acres of land spread across four premium locations in Mumbai, aiming to unlock value from underutilised railway assets.

Meanwhile, the bidding win comes at a time when Oberoi Realty has seen some moderation in sales momentum. According to ICICDirect Research, the company reported a softer pre-sales run-rate in Q3FY26 due to the absence of new launches and lower traction in select ongoing projects.

Addressing concerns around a broader housing slowdown, Chairman and Managing Director Vikas Oberoi recently said the company is not witnessing any uniform market weakness, noting that demand trends remain highly dependent on location, product type, and developer positioning. He also shared that approvals for the company’s upcoming project in Gurugram are expected in the coming weeks, which could pave the way for new launches.

Industry experts view the Bandra East land bid as a strong vote of confidence in Mumbai’s long-term real estate fundamentals, particularly for well-connected commercial and mixed-use corridors. If cleared, the project is expected to significantly reshape the micro-market while reinforcing Oberoi Realty’s presence in premium urban developments.

Also Read: RBI Plans Direct Bank Lending to REITs to Support Real Estate

Also Read: NCDRC Orders Godrej to Refund Rs 89 Lakh in Gurugram Project Case

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