RLDA plans to lease a land parcel at Rs 108 crore in Ludhiana

03 Jan 2022 CW Team

The Rail Land Development Authority (RLDA) has issued a request for proposals for leasing a vacant land parcel in Ludhiana, Punjab, for the redevelopment of a railway colony.

The site has a total area of 25,257.67 sq m with a leased area of around 21,185.54 sq m.

The proposed location is well connected to the city's major transportation hubs.

Ved Parkash Dudeja, Vice Chairman, RLDA, told the media that Ludhiana is the state's industrial and commercial hub, making it one of the state's most important cities. The proposed redevelopment site is strategically located in other major parts of the state. The RLDA redevelopment project will improve the city's appearance while also providing residents with a better quality of life.

The site will be leased for 99 years at a reserve price of Rs 108 crore, with the prescribed FARs for residential and commercial development being 2.0 and 3.0, respectively.

The site in question is a trapezoidal-shaped plot of land with an average depth of 90 m and a 240 m frontage.

The surrounding area is a well-developed area with a mix of commercial and residential land uses. High-end independent residential bungalows with mixed-use retail development in the north, south, and east, as well as government bungalows in the west, surround it.

There are currently 35 railway staff quarters on the site, as well as a few other utility structures.

The Rail Land Development Authority (RLDA) is a statutory body under the Ministry of Railways that is responsible for developing railway land. Leasing commercial sites, colony redevelopment, station redevelopment, and multi-functional complexes are among the four key mandates in its development plan.

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