Indian Railways’ RLDA invites e-bids for leasing land parcel in Chennai; details here

By: |
September 23, 2020 4:30 PM

The site is located 7 kilometres away from the airport, 3 kilometres from the nearest bus stand, and 2 kilometres from Tambaram railway station, which is considered to be the third busiest station and also Chennai's second-largest revenue generator.

Owned by the Southern Railway Zone, the land parcel is surrounded by a lower mid-end residential colony on the site's east side.

A Request for Proposal (RFP) has been floated by Indian Railways’ Rail Land Development Authority (RLDA) for leasing a land parcel- Plot B, situated at East Tambaram in Chennai. Located along Bharathamadha Street, near Tambaram Sanatorium Flyover, the land parcel spans across an area of 3719 sq meters. According to details shared by the RLDA, the site is located 7 kilometres away from the airport, 3 kilometres from the nearest bus stand, and 2 kilometres from Tambaram railway station, which is considered to be the third busiest station and also Chennai’s second-largest revenue generator. The site’s reserve price is Rs 8 crore and it is can be used for 45 years under Institutional Land Area by CMDA.

Tambaram, which falls under the jurisdiction of Chennai’s Metropolitan Transport Corporation, has emerged as a major residential hub in South Chennai. According to RLDA, the site is on the main Sanatorium Bridge and Bharathamadha Street and is easily accessible from the Madras export processing zone. Ved Parkash Dudeja, RLDA Vice Chairman was quoted in the report saying that the site has immense potential for institutional development. The site’s planned development will boost infrastructure escalating prices of real estate projects that are located in the vicinity as well as herald the region’s socio-economic transformation.

Owned by the Southern Railway Zone, the land parcel is surrounded by a lower mid-end residential colony on the site’s east side. The site has permission for institutional development and is also eligible for the building of high-rise buildings. It will be mandatory for the lessee to provide buildings and building services, vehicle parking facility for users and visitors on surface and basements, roads, internal circulation network, internal security, civic amenities and landscaping on the site. As per the terms and conditions of the agreement, the lessee will be granted marketing as well as sub-leasing rights.

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