RLDA offers ₹10,000-cr land parcels for development

The Rail Land Development Authority (RLDA) is all set float tenders worth ₹10,000 crore as part of its efforts to monetize land, vice chairman Ved Parkash Dudeja, said adding that the move provide an opportunity to developers to partner with the RLDA. The agency owns prime land across Chennai, Bengaluru and Hyderabad where it plans to unlock value from 74 commercial sites, including six hectares in posh Mumbai areas such as Bandra, Mahalaxmi and near the Lokmanya Tilak Terminus in Kurla in phases. Prior to this, the RLDA leased 10.76 hectares of land with a development potential of 2.66 million square feet in Delhi's Ashok Vihar to Godrej Properties for ₹1,359 crore. The sale of the land will give more confidence to private players and will also help RLDA to monetize land parcels across major cities. The authority plans to invite tenders for modernization of 55 railway stations across the country and redevelopment of railway colonies in the coming fiscal.