Date Of Post: 10 Mar, 2018
Gwalior: The Railways has fast-tracked its land monetisation project. The RLDA (Rail Land Development Authority) will float tenders for commercial development of 30 land parcels by April-mid this year. The rentals from these land parcels could be approx Rs 7,000 crore over a period of 10 years. The Railways is planning to make at least Rs 19,000 crore over the next 5 years from land monetisation.
- The land developers will be selected on the basis of premium (rentals) they are willing to pay.
- The premium offered for 5 land pieces – in Shimla, Bandra, Raxaul, Gwalior and Padi (Chennai) – that have been let out recently is around Rs 72 crore.
- Tenders have already been floated and 6 more will be done soon.
- The developers will be free to decide the type of commercial use, which includes hotel, mall or anything that is commercially viable depending upon the location.
Image Credit: Jaaron95 – Wikimedia Commons