Rail Land Development Authority (RLDA) has called for bids for leasing out as many as 16 land parcels across India. The Authority is aiming at revenue generation of approximately INR 1904 crores through monetisation of these land parcels.

Prominent amongst these 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). Due to their marketability and exclusive locations which make them eminently 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. 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,” said Shri Ved Parkash Dudeja, Vice Chairman, RLDA.

Taking the catastrophic effect of the pandemic in its stride, RLDA is targeting revenue generation of INR 2000 crore for the Indian Railways in 2021-22, up from INR 352 crore in the previous year.

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.