RLDA Awards Its Highest-Ever Commercial Development Project at

New Delhi, February 7, 2026: The Rail Land Development Authority (RLDA) today awarded a landmark commercial development project at Bandra (East), Mumbai, to Oberoi Realty Ltd., Goregaon (E), Mumbai, marking the highest-ever transaction in RLDA’s history and one of the largest real-estate deals in Mumbai and India. The project was awarded through a transparent and competitive tender process following the opening of financial bids earlier today.

The winning bid of INR 5,400.00 crore, with a revenue share of 45 per cent to RLDA, exceeded the reserve price of INR 5,365.00 crore, while fully meeting the prescribed minimum revenue-share requirement. The outcome reflects strong market confidence in RLDA’s asset portfolio, policy framework, and the growing attractiveness of structured public- sector land development.

The tender witnessed intense competition from leading developers. M/s Shree Naman Developers Pvt. Ltd., in joint venture with the world’s largest global alternative asset manager, Brookfield, emerged as a close competitor, submitting a bid of INR 5,373.09 crore with an equivalent 45 per cent revenue share. The closely contested bids underline the premium nature of the Bandra (East) site and its long-term cdevelopersl.

Spread over 45,371 square metres with a permissible FAR of 400 and a 99-year lease tenure, the Bandra (East) site enjoys a strategic location with excellent connectivity. Its proximity to Bandra Railway Station, Bandra Kurla Complex (BKC), Western Express Highway, and upcoming metro corridors positions it as a prime destination for high-value commercial development in Mumbai’s central business district.

This award represents a significant milestone for RLDA’s Revenue Share Model, introduced in 2025, under which RLDA provides land while the developer undertakes planning, development, execution, and marketing, with revenues shared transparently through an escrow mechanism. The model ensures sustained long-term returns for Indian Railways while aligning public and private sector interests through performance-linked outcomes.

Building on earlier successes such as the Boulevard Road Railway Colony project in Delhi, and strong market response for sites at Mahalaxmi and Supari Baug in Mumbai, the Bandra (East) project further reinforces RLDA’s evolving approach towards efficient utilisation of railway land assets and creation of long-term public value.

The Rail Land Development Authority is a statutory authority under the Ministry of Railways, Government of India, mandated to develop railway land through land leasing, station redevelopment, railway colony redevelopment, and multi- functional complexes and a recent initiative of Integrated Station Facility Management, with a focus on transparency, competitiveness, and sustainable development.