The Rail Land Development Authority (RLDA), a statutory authority of Indian Railways, has invited bids to lease a vacant plot of land measuring 2128 sqm. at the Kota Junction in Kota, Rajasthan, an official statement said on Sunday.
The land, located near the existing Platform number 1 in the Kota Division of the West Central Railway, will be leased for a period of 45 years, with a reserved price of Rs 8.20 crore.
A pre-bid meeting was conducted online on June 16, 2023, which saw the participation of numerous local and national-level developers who displayed a keen interest in the project. The deadline for the submission of e-bids is set for August 1, 2023.
The site can be accessed from the Circulating area of Kota Railway Station, which is currently 18m wide and proposed to be widened to 22m. The land is surrounded by the Railway Colony to the north, Kota Junction to the east, the Circulating Area of Kota Junction to the south, and the Bhimganj Mandi Commercial & Residential area to the west.
Strategically positioned near Kota Railway Junction, this highly desirable land parcel holds tremendous economic potential and is poised for significant commercial development in the near future. Serving as a focal point for trade and commerce, the area boasts exceptional connectivity with all regions of Kota. The region also provides extensive local public transport facilities, promising an excellent return on investment for prospective developers.
Moreover, as the land is set to be part of the RLDA integrated ecosystem, developers will be able to leverage the auxiliary commercial influx in the region.
Vice Chairman of RLDA, Ved Parkash Dudeja informed that with its diverse demographics, Kota is a commercial activity hub. Every year, the city welcomes hundreds of engineering and medical college aspirants from across the country.
The commercial development of the land will make it more convenient for students and their families to realize their dreams. Additionally, as we develop the land in and around Kota, we are confident that tourism will be bolstered in the region as more and more people visit Kota to partake in the rich cultural heritage of the city.
Kota, situated on the banks of the Chambal River and located 240 km from Jaipur, is the third most populous city in Rajasthan, with a population of 1.2 million. As the administrative headquarters for the entire region, Kota is a bustling city that attracts hundreds of students and tourists every year from all over India.
In addition to its rich cultural heritage, Kota is renowned as a major coaching hub for competitive examinations and is famous for its engineering and medical coaching institutes.
The Rail Land Development Authority (RLDA) is a statutory authority under the Ministry of Railways responsible for the development of railway land. Its development plan encompasses leasing commercial sites, colony redevelopment, station redevelopment, and multi-functional complexes.
During the current financial year, RLDA has successfully leased various sites, including those in Waltax Road (Chennai), Ajmer (Rajasthan), Bijwasan (Delhi), Kharagpur, and Solapur (Maharashtra), for a cumulative lease premium of Rs 1622 Crore, which includes railway assets worth approximately Rs 7.54 Crore to be developed in Kharagpur Railway Colony. Recently, RLDA awarded the station redevelopment works for CSMT Railway Station on the EPC (Engineering Procurement and Construction) model.