India, Feb. 6 -- A massive open plot of land visible from the skywalk outside Bandra (East) station could soon be home to skyscrapers, with Oberoi Realty emerging as the highest bidder in a recent auction conducted by the Rail Land Development Authority (RLDA).

The prime 45,371 square-metre (11-acre) land parcel, located along the Western Express Highway and close to the Bandra Kurla Complex (BKC), fetched Rs.5,400 crore in an auction conducted on Wednesday. Oberoi Realty confirmed it had leased the land for 99 years, adding that it had the FSI potential of approximately 1.95 million square feet.

"The bids were opened by RLDA on Wednesday, and Oberoi Realty's bid at Rs.5,400 crore emerged as the highest. Communication from RLDA with reg...