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RLDA to lease out railway land in Raichur for commercial development, keeps reserve price at Rs 11 crore

The land falls under the Raichur Municipal corporation and is just 250 meters from Raichur Junction.

RLDA is currently handling 84 railway colony redevelopment projects and 62 station redevelopment works.

RLDA is currently handling 84 railway colony redevelopment projects and 62 station redevelopment works.

The Rail Land Development Authority (RLDA) has invited bids for leasing out a 6,596 sq m land parcel along the station road at Raichur in Karnataka for commercial development. The RLDA has kept the reserve price of the land at Rs 11.04 crore while the lease period will be 45 years. The land falls under the Raichur Municipal corporation and is just 250 metres from Raichur Junction.

Ved Parkash Dudeja, Vice Chairman, RLDA said that the land has immense potential as it is strategically located near the railway station. "Raichur is the fourth busiest railway station in Karnataka after Bangalore City Junction, Yesvantpur Junction and Hubbali Junction. The proximity of the land parcel to the station will facilitate commercial development with promising future prospects thus supporting the local economy,” he said.

Also Read: RLDA invites bids for leasing 50,010sq m of land in Chennai

Raichur is 409 km away from Bengaluru.

RLDA is a statutory body 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.

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Currently, the Indian Railways has approximately 43,000 hectares of vacant lands across India, of which RLDA has over 92 commercial (greenfield) sites across India for leasing to eligible developers after selection through an open and transparent e-bidding process.

Also Read: RLDA to redevelop century-old Delhi Cantt Railway station for Rs 335 crore

RLDA is currently handling 84 railway colony redevelopment projects and 62 station redevelopment works. Major Station Redevelopment works are New Delhi, Tirupati, Nellore, Dehradun, Ahmedabad and Panipat, to name a few.

During the current financial year, the RLDA has leased out 10 sites at Liluah (Howrah), Nizamabad (Telangana), Waltax Road (Chennai), Egmore (Chennai), Bhopal (MP), Ludhiana (Punjab), Abu Road (Rajasthan), Chaupla Bareilly, Varanasi and Gorakhpur in Uttar Pradesh for a cumulative lease premium of Rs 726 crore. The RLDA said that it will develop railway assets valuing approximately Rs 163 crore in Bhopal, Egmore (Chennai), Bareilly and Ludhiana Railway Colonies in the coming months.
Moneycontrol News
first published: Aug 16, 2022 06:08 pm
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