Rail land development authority invites bid for Aurangabad land at Rs. 101 crore.

The Rail Land Development Authority (RLDA) has invited bid for leasing a land parcel at Aurangabad, Maharashtra. The 35127 square metre land parcel is located on Jalna road is expected to fetch Rs. 101 crore.

The land can be monetised for residential or commercial establishment and will be given for 99 years on lease.

“It’s a prime location and with smart city project of Aurangabad is on track, the land parcel will generate interest,” said Ved Parkash Dudeja, Vice Chairman, RLDA.

Indian Railways has ambitious plan of developing about 20 million sq ft of real estate, attracting investment of Rs. 50,000 crore.

Of the 123 stations currently on the list for redevelopment, railway aims to issue tenders for 50 by March, 2021.

In the current financial year, work has already been awarded in major stations like Delhi, Mumbai, Nagpur, Amritsar, Dehradun, Nellore, Tirupati and Puducherry.

Most of these redevelopment projects will include a significant commercial component entailing a mix of retail, office, and hospitality developments such as 5-star hotels, budget hotels and serviced apartments.

ET