The Rail Land Development Authority (RLDA) has invited bids to redevelop the railway colony in Sewa Nagar and Lodhi Colony in the national capital of Delhi.
An area of 16,058.40 square metres is being offered on lease for residential and commercial development for a period of 99 years, the authority said. Of this, an area of 5,345.30 square metres is in Sewa Nagar Part A and 10,713.10 square metres is in Lodhi Colony.
The reserve price for the site is Rs 355 crore, the RLDA said in its request for proposals (RFP) dated May 3. The last date for submission of e-bids is June 23.
“For redevelopment there are existing 278 quarters – 202 in Sewa Nagar and 76 in Lodhi Colony,” the authority said in a statement. The flats will be handed over to the railways after the redevelopment.
At a pre-bid meeting on May 19, “many developers participated and exhibited keen interest in this project,” the RLDA said in a statement on June 21.
The total area of the site is 43,345.82 square metres. The remaining portion of 27,282.42 square metres, designated as Sewa Nagar Part B, has been earmarked for railway redevelopment works, according to the RFP on the RLDA website.
Sewa Nagar and Lodhi Colony are located near prime areas of the capital such as Golf Links and Chanakyapuri Diplomatic Enclave.
“These areas are not only prestigious, but also represent the cultural and economic vitality of our city. The continued growth and development of these prime areas serve as a shining example of the progress and prosperity of the city,” said Ved Parkash Dudeja, vice chairman of the RLDA.
RLDA is the nodal authority under the Ministry of Railways and is entrusted with the task of monetisation of surplus rail land. In this financial year, it has leased sites at Waltax Road (Chennai), Ajmer (Rajasthan), Bijwasan (Delhi), and Kharagpur and Solapur (Maharashtra) for Rs 1,622 crore.
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