Mumbai: The Railway Land Development Authority (RLDA) has moved ahead with the auction of three prime land parcels in Mumbai, with bids for two plots at Mahalaxmi and Parel already opened this year while the largest parcel at Bandra East is set to see bids opened on Thursday, January 8.
Bandra East land parcel commands highest reserve price
The Bandra East plot, spread over 45,371 sq metres carries a reserve price of Rs 5,365 crore, making it the most valuable among the three. Located just 300–500 metres from Bandra railway station and adjacent to the Western Express Highway, the land parcel enjoys strong connectivity. Its proximity to Bandra-Kurla Complex (BKC) and Andheri-Kurla Road makes it suitable for premium office and retail development, a senior RLDA official confirmed.
Meanwhile, the Supari Baug plot in Patel received interest from only a single bidder — Dineshchandra R Agarwal Infracon. Despite the limited response, the official said the bid was still “worth considering” in view of the reserve price fixed for the plot.
When asked about the possibility of re-tendering due to the single bid, the official said it would be premature to comment, adding that the decision would be taken at a higher-level meeting.
Residential constraints and railway housing obligations
The official acknowledged that the Parel plot was expected to attract more developer interest but fell short, primarily due to its location within a residential area and poor road connectivity. In addition, the successful bidder would be required to construct 616 residential units for railway staff, as an existing railway colony is located on the land.
In contrast, the 2.67-acre Mahalaxmi land parcel saw strong participation from developers, including Lodha Group, Dineshchandra R Agarwal Infracon, and Sobha Realty. Agarwal Infracon emerged as the highest bidder, quoting Rs 2,250 crore, significantly higher than the reserve price of Rs 993.30 crore.
Dineshchandra R Agarwal Infracon is an Ahmedabad-based company with operations spanning over five decades, according to its official website. The company had also purchased electoral bonds during the 2023 Lok Sabha election, contributing to political parties including the Bharatiya Janata Party and Shiv Sena.
Dineshchandra R Agarwal Infracon was unavailable for comment.
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