The Rail Land Development Authority (RLDA), a statutory body of Indian Railways formed subsequent to the amendment of the Railways Act 1989, has taken its first step towards carrying out commercial development of unused railways land in Vijayawada, Andhra Pradesh. As part of this initiative, it has identified a parcel of land measuring 1,272 square metre (approximately 0.31 acre) at Poornanandampet in the tier II city. RLDA had also roped in Jones Lang LaSalle Meghraj as consultant for assisting them in carrying out a study of the real estate potential of the railway land in Vijayawada, an emerging IT destination and also select a developer through a competitive bidding process.
According to information available with FE, the study done by the consultant involved market study, assessment of on-site infrastructure, stakeholder interaction, discussion with development authorities and site analysis. The initial assessment led to identification of various development options and product mix. ?Conceptual plans have been drawn up for suitable option based on the applicable development controls and guidelines of the local development authority. Based on these, the potential of the land has also been arrived at,? as per the information available.
Since the site is located amidst a well consolidated and dense area, the consultant had suggested that the location could be a potential ready site for hotels, restaurants and the like. Also, its close proximity to railway station makes it more feasible for budget hotels, shopping complex etc.
Since the master plan of Vijayawada-Guntur-Tenali-Mangalagiri Urban Development Authority and the records of registration and stamps department of the Andhra Pradesh government, state that the designated land use of the identified site as ?residential?, RLDA is in the process of getting land use converted to ?commercial? to kick start the project plan. It has also filed a necessary application with the local authorities for the purpose.
Vijayawada is the third largest city in Andhra Pradesh after Hyderabad and Visakhapatnam. Located on the banks of river Krishna, it is considered as the agricultural and commercial capital of Andhra Pradesh. The city is an important link in connecting the three regions of Andhra Pradesh namely Telangana, coastal Andhra and Rayalaseema and is a major transit point in the Southern India.