The Rail Land Development Authority (RLDA) has floated tenders for leasing out 60,407 sq m of land parcel at Old Station Railway Colony in Dhanbad. The land has a reserve price of Rs 44 crore. The total land area is 81,788 sq m, out of which 60,407 sq m will be leased for residential development for 99 years. The remaining 21,381 sq m of land will be used for redeveloping the existing railway quarters. The Old Station Railway Colony is situated on the second entry side of Dhanbad Junction railway station. The site is within the boundaries of Dhanbad Municipal Corporation (DMC), near Loco Talab, Dhanbad. Vice-Chairman of RLDA, Ved Parkash Dudeja, said that Dhanbad has grown by leaps and bounds in the past few years, including the substantial penetration of the information technology (IT) industry. He said that the Dhanbad real estate sector has been on an upswing for the last decade. Due to the seamless road connectivity of Dhanbad to the other parts of the city, the site location is ideal for residential development, which will further strengthen the economy of Dhanbad. RLDA is a statutory authority under the Ministry of Railways, which has the responsibility for creating assets for Indian Railways by developing vacant railway land for commercial use to generate revenue based on non-tariff measures. The pre-bid meeting was conducted online on 14 June. The local and national level developers attended the pre-bid meeting. The deadline to submit the e-bids is 22 July 2022. Image Source Also read: RLDA to float tender to enhance Chandigarh Railway Station