Rail Land Development Authority (RLDA) has called for bids for leasing out as many as 16 land parcels across the country and is aiming to generate a revenue of approximately Rs 1,904 crore by monetizing them.
The 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).
These are suitable for commercial and residential development.
“These 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,” said Ved Parkash Dudeja, Vice Chairman, RLDA.
Read: RLDA receives nine RFQ bids for New Delhi Railway Station redevelopment project
Despite the impact of the pandemic, RLDA is targeting revenue generation of Rs 2000 crore for the Indian Railways in 2021-22, up from Rs 352 crore in the previous year, RLDA said in a statement.
The Rail Land Development Authority (RLDA) is a statutory authority under the Ministry of Railways for the development of Railway land. It has four key mandates as a part of its development plan, namely leasing of commercial sites, colony redevelopment, station redevelopment and multi-functional complexes.
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 PAN India.
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