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Last Updated : Mar 25, 2020 08:08 PM IST | Source: Moneycontrol.com

RLDA invites bids to lease two plots for commercial development at Katra

While e-bids are invited, the last date for submission is likely to be extended in view of the coronavirus lockdown.

This Chaitra Navratri, the Railway Land Development Authority (RLDA) has invited bids for leasing two plots for commercial development located near the Shri Mata Vaishno Devi Katra railway station at Katra, Jammu and Kashmir, at a reserve price of Rs 29.15 crore.

The last date for submission of the e-bid is April 9 but it is likely to be extended in view of the lockdown across the country following the coronavirus pandemic, RLDA officials said.

The two plots are spread across 15,352 sq metre. The plot is proposed to be leased out in two parts with a reserve price of Rs 14.18 crore and Rs 14.97 crore, they said.

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“This plot is proposed to be leased in two parts. The permissible FSI is 2.50. Any developer can take one or both plots. These plots can be developed as destination wedding farmhouses or 3-5 star hotels at this picturesque location which is surrounded by greenery all round ” said Ved Prakash Dudeja, vice chairman, RLDA.

“The upfront lease premium is to be paid in four installments of 25 percent each within three years," he said.

RLDA has already leased an adjoining plot which is in the circulation area of the railway station. A Multi-Functional Complex which is being developed as a hotel and holiday inn is likely to take over this property. This property was leased out for an NPV of Rs. 6.71 crore and is spread across an area of 4,500 sq m,” he added.

It serves Katra town and the Sri Mata Vaishno Devi Temple. The rail link was inaugurated by the prime minister on July 4, 2014.

RLDA has the mandate to lease railway land located close to railway stations in Tier 2 cities. Indian Railways has approximately 43,000 hectares of vacant land across the country.

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First Published on Mar 25, 2020 08:08 pm
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