DLF, Unitech eye rail land lease project in Mumbai

Our Bureau New Delhi | Updated on February 24, 2011

Real estate players, including DLF, Unitech, Parsvnath, Oberoi Realty, IFCI Infrastructure and PNC Infratech, are eyeing a project to lease a rail land parcel for commercial development in Bandra (East) in Mumbai.

About 18 players attended the pre-qualifying bid meeting of RLDA held here, said official sources.

Rail Land Development Authority (RLDA) has invited applications from companies for short-listing bidders to lease 45,300 sq m of land for commercial development.

The Railway land is on the Western Express Highway, Bandra (East), Mumbai. The plot is adjacent to Indian Oil Corporation building and abutts Western Express Highway, which makes the plot a premium location, states RLDA. Geographically speaking, the plot falls in the Bandra (East) area and is surrounded by Bandra Suburban Railway Station of the Western Railway.

The plot is proposed to be given on a 45-year lease for commercial development with permitted floor space index (FSI) of four. The Government of Maharashtra has notified the increase in FSI to four from two for commercial use.

In 2008, when the Railways had invited bids for this project, DLF was the sole bidder. But, then the project had offered this land on lease for 80 years.


Published on February 24, 2011

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