RLDA offers land parcel for residential development

The Rail Land Development Authority (RLDA) has floated a request for proposal (RFQ) for leasing a land parcel for residential development along with the construction of railway transit suites at the premium Ramgarh Tal area of Gorakhpur in UP. The Ramgarh Tal site spans 32,911 square meters and is located adjacent to the Ramgarh Tal Lake at Mohaddipur and is primarily a residential-cum-commercial neighborhood located beside the railway area and Mohaddipur block. The complete land area of the Ramgarh Tal project is divided into two parts - one part measuring approximately 32,011 square meters shall be available for lease-based residential development on 99 years' leasehold rights to the selected Lessee or developer and the built-up area (BUA) of the site for residential development is 48,017 square metre, excluding basement or stilt for parking. The floor area ratio (FAR) of the site proposed for residential development is 1.50 and its reserve price is ₹71.50 crore. The other smaller part measuring 900 square metre, is earmarked for mandatory redevelopment of railway transit suites at Ramgarh Tal. Some railway quarters are also to be constructed at Bauliya Colony, Gorakhpur under the colony redevelopment scheme of the Ministry of Railways, being implemented through RLDA. Vice-Chairman, Ved Prakash Dudeja, informed that Gorakhpur is the gateway to Eastern India, and the proposed mandatory railway re-development and residential development at Ramgarh Tal Colony and the construction of railway quarters at Bauliya Colony is a great opportunity for the developers to invest in prime property in Gorakhpur.