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Indian Railways is set to generate approximately INR 6,000 crore in revenue by leasing out two underutilized, prime plots of land in Mahalaxmi and Bandra for 99 years. The Rail Land Development Authority (RLDA) is overseeing the process, which is a key part of a broader government strategy to monetize non-core assets. The Mahalaxmi plot, with a base price of INR 993.30 crore, is the first of many such projects to be tendered, aiming to use the city's booming luxury real estate market to fund railway infrastructure.
The Indian Railways plans to generate approximately INR 6,000 crore in revenue by leasing out two prime, underutilized plots of land in Mahalaxmi and Bandra for 99 years. The plan, which is being managed by the Rail Land Development Authority (RLDA), is a key part of the government's push to monetize vast land holdings to fund infrastructure and public amenities. Advertisement
The Mahalaxmi plot, a 2.67-acre parcel facing Dr. E Moses Road, has been put on the block with a base price of INR 993.30 crore. The tender for this plot, which has a floor space index (FSI) of 4.05, also includes a provision for the developer to share at least 35% of its revenue with the RLDA. The larger 10.6-acre Bandra plot, adjacent to the Bandra railway station, is expected to be even more lucrative, with a projected revenue of INR 5,000 crore. Both of these locations are considered hotspots for luxury residential and commercial projects.
The money generated from these leases will be used for additional public amenities at railway stations, manufacturing coaches, and for the overall redevelopment of railway stations, contributing to the government's larger National Monetisation Pipeline (NMP) initiative.
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