RLDA aims to earn Rs 1,904 crore from leasing out 16 railway land parcels

NEW DELHI: The Rail Land Development Authority (RLDA) has called for bids for leasing out 16 land parcels across the country with the aim of generating revenue of around Rs 1,904 crore.

Prominent among these 16 sites are Boulevard Road Colony in Delhi, Ramgarh Tal Colony in Gorakhpur, Lucknow Railway Station Redevelopment, and plots at Gomti Nagar in Lucknow, near Moula Ali Flyover in Secunderabad and at Salt Golah in Howrah.

These sites have been chosen due to their marketability and exclusive locations which make them eminently suitable for commercial and residential development, the authority said.

“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,” RLDA vice chairman Ved Parkash Dudeja said.

“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,” he said.

The authority is targeting revenue generation of Rs 2,000 crore for the Indian Railways in 2021-22, up from Rs 352 crore the previous year.

RLDA is a statutory authority under the Ministry of Railways for the development of railway land. It has four key mandates as part of its development plan — 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, Indian Railway Stations Development Corporation (IRSDC), has taken up another 63 railway stations in the country.