The Rail Land Development Authority (RLDA) has invited online bids for leasing out a land parcel at Platform Road, Bangalore. The reserve price for 10128 sq mtrs land parcel is Rs 90 crore.
The land parcel is surrounded by various residential colonies such as VV Giri Colony, Shastri Nagar, Lakshmanpuri and Jakkarayanakere. Apollo Hospital at Sheshadripuram is within 500 meters from the Project Site along the Platform Road.
“The proposed land parcel at Platform Road enjoys seamless connectivity from nearby residential and commerciallocations.It is ideal for residential and mixed-use development considering the strategic location of the land parcel?” said Ved Parkash Dudeja, Chairman, Rail Land Development Authority.
The land is ideally suited for residential and mixed-use development. Subject to the local bye laws, the bidder will have the discretion to plan, organize and construct the development project to suit their business plan. The permissible FAR for the site is 3.0.
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 like Pulianthope (Chennai), Amravati & Aurangabad (Maharashtra), Asansol (West Bengal), Bareilly (Uttar Pradesh), Ambari (Guwahati), etc. RLDA has also leased out three railway colonies, namely Chilkalguda & Rifle-Range colonies (Secunderabad) and Rajkot (Gujarat) in the current financial year for redevelopment.