The Rail Land Development Authority (RLDA), a statutory authority of Indian Railways, has invited bids for a residential development plot at Sewa Nagar and Lodhi Colony of Delhi.
The entire land area is divided into three parts Part-A & Part-B (Sewa Nagar) and Lodhi Colony. The total land area is 43345.82 square metre, out of which 16,058.40 sq metre will be leased for residential development for a period of 99 years.
The balance area of approximately 27,282.42 sqm of land in Sewa Nagar Part-B will be utilised for redevelopment of existing Railway colony. Part A (Sewa Nagar) and Lodhi Colony will be offered to the developer for commercial development.
The reserve price for the site is Rs 355 crores. There are existing 278 flats (202 in Sewa Nagar and 76 in Lodhi Colony).
Sewa Nagar colony site is a rectangular and plain piece of land and is divided into parts by the access road.
“Prime areas like Lodhi Colony, Chanakyapuri Diplomatic Enclave, and Golf Links are among the most sought-after locations in the city,” said Vice-Chairman, RLDA Ved Parkash Dudeja.
Rail Land Development Authority (RLDA) is a statutory authority 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 commercial sites, colony redevelopment, station redevelopment, and multi-functional complexes.
During the current Financial Year, RLDA has leased out various sites which is situated at Waltax Road (Chennai), Ajmer (Rajasthan), Bijwasan(Delhi), Kharagpur and Solapur(Maharashtra) for a cumulative lease premium of Rs 1622 Crore including Railway assets valuing approximately of Rs 7.54 crore to be developed in Kharagpur Railway Colony.
RLDA has recently awarded the station redevelopment works for CSMT Railway Station on EPC (Engineering Procurement and Construction) model.