The Rail Land Development Authority (RLDA) has concluded the pre-bid conference for leasing 124,000 square metre (sq m) of land adjacent to the Dwarka Sector 21 metro station in New Delhi at a base price of Rs 1,193 crore, the authority said.
The developers who attended the pre-bid meeting and expressed interest in RLDA’s land parcel include DLF Ltd, Omaxe Ltd, Godrej Properties, Bharti Realty, GMR Group, Unity Group, Pacific Group, Raheja Group, ELDECO Group, Balaji Properties, ATS Homekraft, Birla Estates, Young Builders (P) Ltd, Welspun Enterprises Ltd, Jindal Realty and Birla Estates.
The proposed 124,000 square-meter railway land parcel that is available for a 99-year lease is in Sector 21, Dwarka.
Also read: RLDA to invite proposals for redevelopment of New Delhi railway station in two weeks
The reserve price for the land parcel is Rs 1,193 crore, which is for mixed land use (55 percent residential and 45 percent commercial) on combined plot MU4, MU5 and MU6 railway land parcel, RLDA said in a statement on January 12.
"We are pleased to note the participation of leading developers at the pre-bid meeting for this land parcel. The land parcel is adjacent to the Dwarka Sector 21,”
Ved Parkash Dudeja, Vice-Chairman of RLDA, said. “It is surrounded by well-developed physical and social infrastructure, making it ideal for mix-use development. This land represents a lucrative opportunity for developers to build a residential/commercial project to meet New Delhi's rising demand for premium real estate property."
The land parcel is located near Indira Gandhi International airport. The site has two clear frontages and is accessible from the main Sector-22 road on the west and the Urban Extension Road (UER-II) on the south.
The land parcel is bounded to the north by the Dwarka Sector 21 metro station and Pacific D21 Mall while in the east it will be surrounded by the proposed Bijwasan Railway station, and to the west by the proposed Dwarka Inter-State Bus Terminus (ISBT).
The RLDA is a statutory authority under the Ministry of Railways and is responsible for railway land development that includes leasing of commercial sites and multi-functional complexes, colony redevelopment and station redevelopment.
The statement said that during the current financial year, the RLDA has leased out 22 sites across the country for a cumulative lease premium of Rs 1,916 crore including railway assets valued at about Rs 314 crore to be developed in Bangalore, Bhopal, Egmore, Bareilly, Ludhiana, Muzaffarpur and Kannur railway colonies.
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