December 24, 2025: The Railway Land Development Authority (RLDA) has achieved a major milestone after receiving its highest-ever bid of Rs 2,250 crore for a premium 2.5-acre land parcel located in Mumbai’s upscale Mahalaxmi area, according to people familiar with the transaction. The winning bid underscores the continued appetite for strategically located urban land in India’s most expensive real estate market.
The plot, situated in one of South Mumbai’s most sought-after neighbourhoods, was offered on a long-term lease basis and has been awarded to Dineshchandra R Agrawal Infracon. The land will be leased for a period of 99 years, allowing the developer to unlock long-term value while retaining ownership with the railways.
This landmark transaction marks the highest value ever realised by the RLDA through its land monetisation programme. Officials and market observers view the outcome as a strong endorsement of Mumbai’s enduring real estate fundamentals, particularly for well-located parcels with clear development potential.
The Mahalaxmi land parcel is considered highly attractive due to its proximity to key business districts, established residential catchments, and major transport corridors. South Mumbai continues to command premium valuations, driven by limited land availability, strong infrastructure connectivity, and sustained demand from both end-users and investors.
The successful bid also highlights the effectiveness of the RLDA’s strategy to monetise underutilised railway land assets to generate non-fare revenue. Proceeds from such transactions are expected to support railway infrastructure development while simultaneously contributing to urban regeneration in dense city centres.
Real estate experts note that despite broader market cycles, prime land in Mumbai remains resilient, with institutional and developer interest staying robust for assets that offer scale, location advantage, and long-term development rights. The record bid for the Mahalaxmi plot reinforces the city’s status as a preferred destination for large-ticket real estate investments.
With this transaction, the RLDA has set a new benchmark for land monetisation in urban India, signalling strong confidence in Mumbai’s long-term growth story and the continued value of scarce, well-located land parcels.
