Rly arm to lease prime land for development

Chennai

The authority is a statutory body under the Ministry of Railways that is involved in developing railway
land across the country.

The RLDA, which is in the process of developing at least 62 railway stations in a phased manner and a few railway colonies, has planned to lease a land parcel measuring 4,300 sqm adjacent to Ethiraj College for Women and Spencer Plaza to developers for 99 years for residential development.

Besides this, it has also floated a Request for Proposal (RFP) for leasing another land parcel measuring 3,719 sqm located near Tambaram Sanatorium in East Tambaram.

The reserve price for the land has been fixed at Rs 8 crore. RLDA had held a pre-bid conference on September 14 for the East Tambaram land, which could be used under Institutional Land Area by CMDA for 45 years.

RLDA vice chairman Ved Prakash Dudeja said the site owned by Southern Railway (SR) has immense potential for institutional development, which would boost infrastructure, improving real estate price in its neighbourhood and herald socio-economic transformation of the locality that lies not too far from Chennai airport.

The RLDA has also invited RFP for 2,350 sqm near Tiruchy Fort for development of multi-functional complexes.

The authority has already been authorised by the Ministry to undertake commercial development of railway land situated in Ayanavaram Railway Colony by splitting it into two parts measuring 2.5 acres each.