Rail Land Development Authority (RLDA) has invited online bids for the commercial development of a railway land parcel in Nizamabad.
Spanning 2204.96 sq. m., the site is surrounded by commercial and semi-commercial spaces, accessible from the railway station and the main bus stand.
The reference built-up area of the site is 6173.89 sq. m., and its reserve price is ₹3.95 crore and the land will be leased out for 45 years.
Online pre-bid meeting will be held on June 3 and the deadline for the bid submission is July 26. It is bounded by vacant railway land in the north and east.
“Nizamabad is a fast-developing urban agglomeration in Telangana and our site is located in the heart of the city so any planned commercial development, such as a retail space, hypermarket, hospital or a budget hotel, will boost real estate, tourism and investment potential of the region. In view of the expected government push for the health sector, the site can also be put to use for a multi-specialty hospital,” said VC RLDA Ved Parkash Dudeja.
The selected bidder will be mandated to carry out development as per local building by-laws and bear all expenses to procure the necessary clearances and approvals from the relevant authorities. The concessionaire will be permitted to market and sub-lease built-up area for any lawful activities.
RLDA is a statutory authority under the Ministry of Railways for the development of railway land of the 43,000 hectares of vacant land across India, it is currently handling 84 railway colony redevelopment projects. A railway colony in Guwahati and two colonies in Secunderabad have been recently leased for redevelopment.
The agency is also working on 60 stations in a phased manner while its subsidiary, IRSDC has taken up another 63 stations. In the first phase, prominent stations like New Delhi, Tirupati, Dehradun, Nellore, Cuttack and Puducherry are for up for redevelopment, a press release said.
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