Oberoi Realty and Shree Naman Developers are the eligible bidders for an 11.21-acre prime railway land parcel in Bandra, Mumbai, valued at Rs 5,365 crore.

The land is located along the Western Express Highway in Bandra East and will be offered through a long-term 99-year lease under a revenue-sharing model. The selected developer will be expected to share at least 45 percent of the revenue with the Railway Land Development Authority (RLDA). This land is highly sought after due to its proximity to key commercial areas like Bandra-Kurla Complex and Andheri-Kurla Road, making it a lucrative redevelopment opportunity.

Both developers are now progressing to the next stage of the technical evaluation. This move is part of RLDA's ongoing efforts to monetize railway land, having recently auctioned other prime parcels in Mumbai worth over Rs 9,000 crore.