Rail Land Development Authority to lease land parcels in Chennai for commercial development; details

The land parcels shall be leased out for a period of 45 years.

The Rail Land Development Authority (RLDA) is all set to lease over seven acres of land in the city of Chennai for commercial development as well as invited online bids, said the statutory authority under the Railway Ministry. RLDA said the four land parcels of 7.36 acres are located in Chennai at Pulianthope, Waltax Road, and Ayanavaram Railway Colony. The land parcels shall be leased out for a period of 45 years, according to a PTI report. For the submission of the bid for the Waltax Road site, close to the central railway station, the deadline is February 26; for Ayanavaram, the deadline is March 4; for Puliyanthope site, the deadline is April 23, it said.

According to the Vice Chairman of RLDA, Ved Prakash Dudeja, the city of Chennai has emerged as a real estate hotspot due to infrastructural development, growth of the IT sector, as well as conducive policy landscape over the last few years. Dudeja further said these sites possess excellent location as well as connectivity. At these sites, the development of real estate will bolster prices, generate job opportunities and also boost the local economy, he added.

RLDA is also executing the Indian Railways’ New Delhi Railway Station (NDLS) redevelopment project. Last month, the authority had conducted virtual roadshows on the NDLS redevelopment project online from 14 January to 19 January 2021. Under this project, the station is being transformed into a one-stop destination for transport, entertainment to provide world-class facilities, retail needs, and curated experiences to passengers.

The redeveloped station will boast multiple passenger-friendly amenities like an elevated concourse, refurbished platforms with easy access for commuters from the concourse level, an elevated road network with multiple entry and exit points, mezzanine level exclusively for food courts, lounges, restrooms, etc., green building provision, a multi-level car parking among others.