Bids invited for lease of railway land

Rail Land Development Authority (RLDA) has invited bids for grant of lease for the redevelopment of 2.18 Ha of Boulevard Road Railway Colony in New Delhi for 99 years.

An RLDA press release explains:

Purpose: Boulevard Road Railway Colony site will be redeveloped in accordance with Delhi Master Plan-2021 (MPD-2021). The Railway Colony is located along Lala Hardev Sahai Marg / GT Karnal Road near Tis Hazari Metro Station, ISBT Kashmere Gate and Rani Jhansi Flyover, New Delhi.

FSI: As it lies in the upscale bungalow zone of New Delhi, the prescribed FSI for the subject site is 0.75 as per Delhi Master Plan-2021.

Zone: Existing land use of the site as per MPD-2021 is Residential, falling in Zone C.

Area: The leasable land area is 21,800 sq m.

Reserve Price: Rs 393 crore.

Last date of submission of bid: 27 January 2021.

Online pre-bid meeting date: 17 December 2020.

Bid variable, award process: The bid variable for the project is the Upfront Lease Premium that is to be paid in five instalments in four years. The award of lease shall be through a transparent online bid process, wherein the highest Bid fulfilling stipulated technical and financial eligibility criteria shall be considered.

Rail Land Development Authority (RLDA) is a statutory body under the Ministry of Railways for the development of Railway land. The Indian Railways has approximately 43,000 hectares of vacant land across India of which RLDA has 92 commercial greenfield sites for leasing to the eligible developers.

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