Overview
- Oberoi Realty emerged as the highest bidder after RLDA opened financial bids on February 4 for the Bandra East parcel.
- The 45,371 sq m site adjacent to the Western Express Highway carries a 99-year lease offer with about 1.95 million sq ft FSI potential.
- Next steps from RLDA are awaited before the lease is finalised and development approvals can begin.
- An RLDA official said the top bid exceeded the asking price of ₹5,365 crore, reflecting strong interest in the location near BKC.
- The auction is part of RLDA’s plan to raise at least ₹8,000 crore in Mumbai, with other parcels drawing high bids, including Mahalaxmi at ₹2,251 crore and Parel at ₹1,368 crore.