The Rail Land Development Authority (RLDA) has invited bids for leasing 2.18 ha land parcel for 99 years for redevelopment of Boulevard Road Railway Colony in Delhi.
The colony will be redeveloped in accordance with the Delhi Master Plan-2021 (MPD-2021). The prescribed floor space index (FSI) for the site is 0.75.
The leasable land area is 21,800 sq mtr with the reserve price fixed as Rs 393 crore.
The land parcel at Boulevard Road has potential for premium segment residential development. The site is strategically located with accessibility to prominent landmarks such as railway stations, Tis Hazari Metro Station, ISBT Kashmere Gate, among others.
The development will enhance its prospects and offer a good return on investment to developers.
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.
Due to its proximity to the Ring Road, the site is also well connected to the peripheral developments in Gurgaon and Noida.
The last date of submission of the bid is 27 January 2021 and the online pre-bid meeting is slated to take place on 17 December 2020.
RLDA is a statutory body under the Ministry of Railways for development of railway land. RLDA is currently handling 84 railway colony redevelopment projects and has recently leased out a railway colony in Guwahati in Assam for redevelopment.
The Indian Railways has approximately 43,000 ha of vacant land across India of which RLDA has 92 commercial (greenfield) sites across India for leasing to the eligible developers.