Rail land development authority eyes Rs25 crore from leasing out Amravati railway land

NAGPUR: Rail Land Development Authority (RLDA), an arm of the Indian Railways, has invited bids for leasing out as many as 16 land parcels across India. The authority is aiming to generate approximately Rs1,904 crore revenue through monetization of these land parcels.
One of these 16 sites currently offered for bidding include commercial exploitation of railway land at Amravati railway station from where the RLDA plans to generate Rs25 crore.
The other sites include redevelopment of Lucknow railway station, Ramgarh Tal Colony (Gorakhpur), land parcels at Gomti Nagar (Lucknow), Moula Ali Flyover (Secunderabad), Boulevard Road Colony (Delhi) and land at Salt Golah (Howrah).
“The land parcels are strategically located in important cities across India and hold potential for residential and commercial development. RLDA will lease out these lands to prospective developers who will be mandated to develop these sites in line with local bye-laws,” said Ved Parkash Dudeja, vice-chairman, RLDA.
Dudeja added, “These sites offer tremendous growth opportunities for investors and developers. Once completed, these sites will lead to economic development, employment generation and boost real estate prospects of the respective regions.”
Taking the catastrophic effect of the pandemic in its stride, RLDA is targeting Rs2,000 crore revenue for the Indian Railways in 2021-22. This will be a jump from Rs352 crore in the previous year, said Dudeja.
The Rail Land Development Authority is a statutory authority under the ministry of railways responsible for the development of railway land for commercial use. It has four key mandates as a part of its development plan — leasing of commercial sites, colony redevelopment, station redevelopment and multi-functional complexes.
Indian Railways has approximately 43,000 hectare vacant land across India. The RLDA is currently handling 84 commercial (greenfield) sites and 84 railway colony redevelopment projects across the country for leasing and eligible developers for each will be selected through an open bidding process.
The 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, Indian Railway Stations Development (IRSDC) has taken up another 63 stations pan India.