Mumbai plans to choose the winning bidder in the first sale of land by the government in at least 1 1/2 years as it tests demand for commercial space in a city that is among the world’s five most expensive.

The Mumbai Metropolitan Region Development Authority plans to open bids today on reclaimed marshland valued at a minimum of 4.35bn rupees ($95m), according to its Web site. The plot is being offered for a reserve price of 300,000 rupees a sq m, unchanged from similar sales two years ago.