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Sep 05, 2013, 06.32 PM IST | Source: CNBC-TV18

Rail land monetisation: New revenue stream for railways

RLDA has kicked off the process to monetise railways' land assets in a bid to open another revenue stream for railways.

In a bid to open another revenue stream for railways, Rail Land Development Authority, or RLDA, has kicked off the process to monetise railways' land assets.

Most of these properties are not required by the railways for operational purposes in the near future reports CNBC-TV18’s Manasvi Ghelani.

Also read: Railways to hike freight tariff in October

The Rail Land Development Authority has started with two consultancies - KnightFrank India and Jones Lang LaSalle, which are going to identify the sites around those areas. They will also manage the collaterals and seek the expression of interest from the end users.

KnightFrank India is going to take care of these land parcels zone wise. It is in charge of 53 locations across the South and West. While Jones Lang LaSalle will take care of the eastern and the northern region.

We understand that first round of bids will start from Gujarat on Monday, which is September 09 followed by Hyderabad on September 11.

There are a whole host of hoteliers who have shown interest in developing these land parcels. Hoteliers like Fedelco, Suba International, Woodland, The Loot, Jumbo King.

It looks like a win-win situation for both the rail authorities since they are in cash strapped situation, as well as the companies who are looking at developing these land parcels.

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