RLDA would lease a block of land in Dwarka for 11.93 billion

In Sector 21, Dwarka, Delhi, the Rail Land Development Authority (RLDA) has issued a request for bids for leasing out a plot of railway land of 124,000 square metres for INR 11.93 billion. The land parcel has a residential preference (55%) and a business preference (45%). The pre-bid meeting took take place on 10 January and the deadline for submitting an electronic offer is 06 February. The Ministry of Railways has established the Rail Property Development Authority (RLDA) as a statutory body in charge of railway land development. RLDA's development strategy includes four main mandates: colony redevelopment, station redevelopment, leasing of commercial lands and multi- functional complexes. “The land parcel located near Bijwasan is an ideal location for residential development in the heart of the national capital. The city has always been the most sought-after residential destination for homebuyers; however, in recent decades, the market has been dominated by individual dwellings ranging from bungalows to independent floors,” said Ved Parkash Dudeja, Vice Chairman, RLDA. “New Railway passenger terminal is being developed adjacent to this land parcel, which will attract huge footfall in the area. The proposed land parcel will provide developers with a one-of-a-kind opportunity to build a residential / commercial project to meet the rising demand for premium real estate property in New Delhi,” he added.