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The Rail Land Development Authority (RLDA) has invited bids for leasing a 124,000-square-meter railway land parcel in Sector 21 Dwarka, Delhi, for Rs 1193 crore.
The parcel of land can be used for residential (55%) and commercial (45%) purposes. This year’s pre-bid meeting will be held on January 10, and the deadline for e-bid submission is February 6.
The land parcel close to the Bijwasan is an ideal location for residential developments in the heart of the national capital. As a result, the city has always been the most preferred destination for homebuyers and investors.
In recent decades, the market has been conquered by individual residences ranging from bungalows to independent floors,” said Ved Prakash Dudeja, Vice President of Ved Prakash Dudeja Realty.
A New Railway passenger terminal is being developed next to this land parcel, which will draw huge footfall in the area. “The proposed land parcel will offer developers the to develop a residential or commercial project to meet New Delhi’s rising premium housing demand,” Dudeja said.
The Rail Land Development Authority (RLDA) is a statutory authority under the Ministry of Railways in charge of railway land development. RLDA has four key mandates as part of its development strategy: commercial leasing sites and multi-functional complexes, colony, colony redevelopment, and station redevelopment.
Throughout the current financial year, RLDA has leased out 22 sites situated at Bangalore & Raichur (Karnataka), Liluah & Salt Golah (Howrah), Nizamabad (Telangana), Egmore (Chennai), Bhopal (MP), Ludhiana (Punjab), Abu Road & Rana Pratap Nagar (Rajasthan), Bhusawal & Solapur (Maharashtra), Bareilly, Varanasi and Gorakhpur in UP, Katra (J&K), Muzaffarpur (Bihar), Sirsa (Haryana) and Kannur (Kerala) for an increasing lease premium of Rs 1916 crore along with railway assets valuing about Rs 314 crore to be developed at Bangalore, Bhopal, Egmore (Chennai), Bareilly, Ludhiana, Muzaffarpur and Kannur Railway Colonies.