NEW LAUNCH PIPELINE
Oberoi Realty Wins ₹5,400 Crore Bid for Bandra East Railway Land; Mixed-Use Project Listed for FY27 Launch Pipeline
In February 2026, Oberoi Realty emerged as the highest bidder for an 11-acre railway land parcel in Bandra East with a bid of ₹5,400 crore. The firm emerged as the highest bidder for RLDA's land spread over 45,371 sq metres, or about 11 acres, for a lease of 99 years. The project appears in the developer's FY27 launch pipeline as an upcoming mixed-use venture; no configurations, price band, possession date or RERA registration have been publicly disclosed as of September 2026.
| Developer | Oberoi Realty Limited |
|---|---|
| Location | Bandra East, Mumbai (adjoining Western Express Highway) |
| Land Size | 45,371 sq metres (approximately 11 acres) |
| Lease Tenure | 99 years from RLDA |
| Bid Value | ₹5,400 crore (highest bid in RLDA auction, February 2026) |
| Development Potential (FSI) | 19.50 lakh sq ft (approximately 1.95 million sq ft) |
| Payment Structure | ₹495 crore upfront (in two tranches); balance through revenue sharing until 2038 |
| SPV | Centerstage Realty Private Limited (established June 2, 2026) |
| RERA Status | Not filed as of September 2026 |
| Launch Timeline | Listed in FY27 pipeline; no formal launch date announced |
Acquisition and Payment Terms
Oberoi Realty won the bid for an 11-acre land parcel in Mumbai's Bandra East at ₹5,400 crore, participating in bids invited by the Railway Land Development Authority (RLDA) for the grant of a lease to develop around 45,371 square metres of the land for a period of 99 years. Oberoi Realty is investing Rs 268.50 crore in the development of the Railway Land Development Authority's (RLDA) land in Bandra East, Mumbai. The company paid the first tranche of ₹247 crore for leasing the 11-acre land parcel and has established a Special Purpose Vehicle (SPV), Centerstage Realty Private Limited, to undertake the ambitious project. Oberoi Realty is set to make an upfront payment of ₹495 crore, described as payable in two stages. The remaining value is structured through a long-term revenue-sharing mechanism that extends to 2038. Separate reporting on the deal also mentions a 45% revenue share to RLDA.
Project Potential and Location
The land has a floor space index (FSI) potential of around 19.50 lakh square feet. The exact use is yet to be finalised, but given the FSI potential and location adjoining BKC, industry experts expect it to support residential, commercial, and retail components. The Bandra East location is one of Mumbai's most sought-after corridors because of road connectivity and proximity to business districts. The plot adjoins the Western Express Highway, which is a key arterial route. The area is closer to Bandra-Kurla Complex, Kherwadi, and Santacruz East, and the Bandra Colony and BKC Metro Stations on the Aqua Line are fully operational, with the locality perfectly positioned via the Western Express Highway and the Bandra-Worli Sea Link, reaching South Mumbai in 20 minutes and Mumbai Airport in 15 minutes. For daily commuters, Bandra Railway Station is the nearest railway station, located about 1.1 km away.
Status and Timeline
Oberoi Realty disclosed a 12-project FY27 launch pipeline including Oceanic, Fairview, Pedder Road, Bandra RLDA and Alibaug on its May 11, 2026 Q4FY26 results call. The land acquisition was only recently concluded and RERA registration will follow once the project is formally planned and launched. Detailed floor plans have not yet been released by Oberoi Realty and will be shared once the project's design and RERA registration are finalised. Reports around the bid indicated potential premium positioning, with configurations such as 2 BHK, 3 BHK, and 4 BHK mentioned as likely, though not confirmed at launch. No possession date, price band or RERA registration number have been publicly announced as of September 2026.
Infrastructure and Market Context
The ₹95,790 crore Adani-led Dharavi redevelopment — immediately adjacent to Bandra East — proposes to rehabilitate approximately 72,000 residential and commercial tenants across 47+ hectares. The planned Dharavi Multi-Modal Transit Hub will integrate Metro Lines 2B, 3, 8, and 11 alongside the BKC bullet train station. As the redevelopment progresses, the 'BKC Spillover Effect' is expected to push residential demand and pricing upward across the Bandra East–Sion–Wadala corridor. In 2025, it recorded 627 new sale transactions with a gross sales value of ₹2,333 crore. As of the fourth quarter of 2025, the average property rate in the area stood at ₹63,440 per square foot, up from ₹59,909 per square foot in the same quarter.
Frequently asked questions
What is the Oberoi Bandra RLDA project?
It is an upcoming mixed-use development on an 11-acre railway land parcel in Bandra East, Mumbai, leased to Oberoi Realty by the Rail Land Development Authority (RLDA) for 99 years. The project has development potential of 19.50 lakh sq ft (1.95 million sq ft) under FSI regulations.
How much did Oberoi Realty bid for this land?
The developer emerged as the highest bidder at ₹5,400 crore in February 2026. The payment structure includes ₹495 crore upfront (in two tranches) and the balance through revenue sharing with RLDA extending to 2038, with a 45% revenue share to the authority.
When is the project expected to launch?
The project is listed in Oberoi Realty's FY27 launch pipeline (April 2026 to March 2027), but no formal launch date has been announced. Approvals and detailed project planning are still underway as of September 2026.
What configurations or price range has been announced?
Neither configurations, price band, nor RERA registration have been publicly disclosed. Industry reports mention likely 2 BHK, 3 BHK and 4 BHK units as possibilities, but these are not officially confirmed.
Has RERA registration been filed?
No. RERA registration is expected only after the project design is finalised and formal launch is announced, typically several months into FY27 or later.
What infrastructure projects are planned nearby?
The adjacent Dharavi redevelopment will introduce Metro Lines 2B, 3, 8, and 11 with a bullet train station. The Western Express Highway and Bandra-Worli Sea Link provide immediate road connectivity to BKC (15 minutes), South Mumbai (20 minutes) and Mumbai Airport (15 minutes).