News Brief
Rail Land Development Authority Eyeing To Monetise 16 Land Parcels Worth Over Rs 1,900 Crores
An Indian Railways train. (Ramesh Pathania/Mint via Getty Images)
Aiming at revenue generation of over Rs 1,900 crore, Rail Land Development Authority (RLDA) has called for bids for leasing out as many as 16 land sites across the country.
According to the RLDA, monetisation of these land parcels could generate about Rs 1,904 crore.
Prominent amongst these 16 sites currently offered for bidding are Lucknow Railway Station Redevelopment, Ramgarh Tal Colony (Gorakhpur), Land parcel at Gomti Nagar (Lucknow), Land parcel near Moula Ali Flyover (Secunderabad), Boulevard Road Colony (Delhi) and land at Salt Golah (Howrah).
Besides there are railway sites In Rajasthan, Jammu and Kashmir, Tamil Nadu, Gujarat and Assam.
Due to their marketability and exclusive locations which make them eminently suitable for commercial and residential development.
“The land parcels are strategically located in important cities across India and hold tremendous potential for residential and commercial development. RLDA will lease out these land parcels to prospective developers who will be mandated to develop these sites in line with local bye-laws", RLDA Vice Chairman Ved Parkash Dudeja said.
Taking the catastrophic effect of the pandemic in its stride, RLDA is targeting revenue generation of nearly Rs 2,000 crore for the Indian Railways in 2021-22, up from Rs 352 crore in the previous year.
"The sites offer tremendous growth opportunities for investors and developers. Once completed, these sites will lead to economic development, employment generation and boost real estate prospects of the respective regions,” said Dudeja.
Indian Railways has approximately 43,000 hectares of vacant land across India. RLDA is currently handling 84 commercial (greenfield) sites and 84 railway colony redevelopment projects across India for leasing and the eligible developers for each will be selected through an open and transparent bidding process.
RLDA is also mandated with the redevelopment of railway stations and is currently working on 60 Railway stations in a phased manner while its subsidiary, IRSDC, has taken up another 63 Railway stations across India.
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