The Rail Land Development Authority (RLDA) has invited bids for leasing a vacant plot of land of 70,606 sqm for residential development at Jhusi (Prayagraj), under the Varanasi Division of North Eastern Railway (NER) in Uttar Pradesh.
The reserve price for the land is fixed at Rs 79.40 crore for a lease period of 99 years.This proposed site for residential development is rectangular in shape and is well connected to an extensive network of rail, road, and air. It is about 25 kilometer away from the Prayagraj airport, while the Jhusi railway station is situated just in front of the proposed site.
“Jhusi is a place of historical importance, having Neolithic origins. This town is located across the Ganges River and is today well connected with Prayagraj through the Shastri Bridge. As commerce has been growing, the infrastructure is also enhancing day after day. Today, Jhusi mainly comprises of residential apartments, plots, and independent houses. It is an excellent and most conducive spot to kickstart an aggressive real estate bustle,” said Ved Parkash Dudeja, Vice Chairman of the RLDA.
The access to this site is highly convenient, with the current front road being 12 meters wide, which is proposed to be further widened up to 24 meters. This plot of land is surrounded by prominent landmarks like the Civil Line bus depot in the west, Nishtha hospital in the east, Jhusi railway station in the south, and low-rise residential buildings towards the north.
The Floor Space Index (FSI) being offered is 1.50 for the complete plot size.
Rail Land Development Authority (RLDA) is a statutory body under the Ministry of Railways for the development of Railway land. It has four key mandates as a part of its development plan, namely leasing of commercial sites and redevelopment of colonies, stations and multi-functional complexes.