RLDA offers 27-acre plot in the heart of Delhi

Rail Land Development Authority has decided to call bids for a 27- acre plot in New Delhi’s Ashok Vihar. Tasked with generating revenue from vacant lands, the authority has lined up six more such plots in the metro cities. It expects to earn about ₹10,000 crore through land monetization over the coming years. The plots include 16 hectares in Mumbai's posh areas such as Bandra, Mahalaxmi and near Lokmanya Tilak Terminus in Kurla, beside land in Chennai and Hyderabad. It may be recalled that RLDA had in March decided to sell land to Godrej Properties after it won an auction. Under the deal the builder was to construct flats, give half to the railways free of cost, and sell the rest to economically weaker sections at market price. But the price offered by Godrej was very low hence rebidding is being carried out. Other bidders in the March round included the Adani Group and real estate developer Eldeco.