OBEROI BANDRA RLDA — New Project Coming Up in Bandra East, Mumbai
Oberoi Realty Wins Landmark ₹5,400 Crore Bandra East Development
In February 2026, the Rail Land Development Authority awarded a landmark commercial development project at Bandra (East), Mumbai, to Oberoi Realty Ltd, marking the highest-ever transaction in RLDA's history and one of the largest real-estate deals in Mumbai and India. The bid value stood at approximately ₹5,400 crore, making it one of the most notable land transactions in Mumbai's commercial real estate market in recent years.
Land and Location
The land spans approximately 45,371 sq mt, or roughly 11 acres, and is situated adjacent to the Western Express Highway in Bandra East. Its central location connects Bandra East with major commercial districts like Bandra-Kurla Complex (BKC) and Andheri, making it highly attractive for mixed-use developments.
Development Terms and Structure
The RLDA will execute the 99-year lease agreement directly in favour of the SPV. The company has established a Special Purpose Vehicle (SPV), Centerstage Realty Private Limited, to undertake the ambitious project. The capital infusion brings the SPV's paid-up share capital to INR 268.50 crore, the minimum threshold specified in the bid documents issued by the Railway Land Development Authority for this project.
Oberoi Realty has highlighted the flexible payment structure associated with the RLDA land lease. Unlike many land acquisitions that require substantial upfront payments, the company has the option to make payments over an extended period, reportedly until 2038. A portion of the payment is linked to future revenue generation from the project, reducing immediate financial pressure and supporting long-term project viability.
Development Potential
The site carries a floor space index of 19.50 lakh sq ft, making it suitable for large-scale mixed-use development, and its location in one of Mumbai's most strategically connected micro-markets adds considerable commercial significance.
About Oberoi Realty
Oberoi Realty Limited traces its operating roots to the early 1980s in Mumbai, with formal incorporation in 1998 under the Companies Act and a listing on the Bombay Stock Exchange and National Stock Exchange following its conversion to a public limited company in December 2009. Headquartered within its own Oberoi Garden City campus at Goregaon East, the company is led by Chairman and Managing Director Vikas Oberoi, a Harvard Business School alumnus whose direct involvement spans every project from conception through completion.
The company is recognised for developing premium properties, integrated townships, and large-scale redevelopment projects across prime urban locations. Its portfolio spans iconic residential towers, Grade-A office assets, retail malls, hotels, and social infrastructure including international schools. From iconic developments in Goregaon, Borivali and Worli to award-winning mixed-use communities, the company built a legacy that transformed the skyline of India's financial capital.
Strategic Pipeline
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. 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. This landmark acquisition positions the developer in one of Mumbai's most strategically connected micro-markets for large-scale mixed-use development.