Railway Land Development Authority Receives ₹1,368 Crore Bid for 6-Acre Land Parcel in Central Mumbai

The Railway Land Development Authority (RLDA) has received a bid valued at ₹1,368 crore for the redevelopment of its Supari Baug railway colony, located on a nearly 6-acre land parcel in Mumbai’s central Parel area, as per The Economic Times report. 

Key Developments  

As per report, Dineshchandra R Agrawal Infracon emerged as the sole bidder for the project, which is being offered on a revenue-sharing model through a long-term lease. The land is proposed to be allotted on a 99-year lease, with the revised reserve price fixed at ₹1,343 crore. 

The tender had initially attracted attention due to the site’s scale and strategic location in Parel, a central Mumbai micro-market that has undergone significant redevelopment over the last two decades. However, the bidding conditions were amended after the first tender issuance. 

Tender Revision and Market Context 

Originally, RLDA had set a reserve price of ₹1,734 crore for the land parcel. This was later restructured after ₹390 crore was carved out and earmarked for the rehabilitation of the existing railway residential colony located on the site.  

Following this adjustment, the reserve price for the redevelopment component was reset to ₹1,343 crore. As per report, RLDA will now evaluate whether to proceed with the lone bid or consider re-tendering the parcel to potentially enhance value realisation. 

Track Record and Evaluation Process 

Dineshchandra R Agrawal Infracon had earlier secured the highest bid in RLDA’s recent auction of a 2.5-acre land parcel in Mahalaxmi, south Mumbai, with an offer of ₹2,250 crore. 

In the Supari Baug case, bids have been opened and will undergo technical and financial scrutiny as per RLDA norms, with final allotment subject to regulatory clearances. 

Read More: Indian Railways Used Over 80% of Total Budget to ₹2.03 Lakh Crore Till 2025! 

Conclusion 

The Supari Baug bid underscores sustained developer interest in well-located railway land assets in Mumbai, even amid selective participation. RLDA’s decision on whether to accept the single offer or re-invite bids will be closely watched, given the site’s strategic importance and monetisation potential. 

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