Home / Business and Economy / Mumbai Land Auction Shatters Records at ₹2,250 Crore
Mumbai Land Auction Shatters Records at ₹2,250 Crore
24 Dec
Summary
- A 2.5-acre plot in Mahalaxmi, Mumbai, was auctioned for ₹2,250 crore.
- Dineshchandra R Agrawal Infracon submitted the highest bid.
- The land parcel is leased for 99 years with a record price benchmark.
A landmark ₹2,250 crore bid has been secured by the Railway Land Development Authority (RLDA) for a 2.5-acre plot in Mumbai's Mahalaxmi. This record price for a long-term lease sets a new benchmark in India's real estate market, reflecting robust investor confidence.
Dineshchandra R Agrawal Infracon emerged as the highest bidder, surpassing other major developers. The plot will be leased for 99 years, with the lease payment structured over eight years. Experts note the strong appetite for well-located urban land, although the high cost presents potential challenges for project completion.
The Mahalaxmi site's strategic location in south Mumbai offers prime opportunities for mixed-use development. While the bids have opened, final developer selection awaits technical and financial feasibility checks. This auction reaffirms Mumbai's status as a hotspot for significant real estate investments.
