The Rail Land Development Authority (RLDA), has invited bids for leasing a land parcel for Commercial Development of 4.93 acres of Railway Land. The reserve price for the land Parcel is Rs. 22.6 Crore for a 45 years lease.
The developers shall get rights to develop commercial infrastructure as per their plan and will also be entrusted with the redevelopment of the existing railway colony at a separate land parcel made available by the Railways. An online pre-bid meeting was held on September 26, 2022 where many local and national level developers participated and expressed keen interest. The deadline for submitting e-bids is November 7, 2022. The site is situated along Station Road and is well connected to the other parts of Kannur City.
Ved Parkash Dudeja, Vice Chairman, RLDA, stated, “The proposed land parcel is ideal for commercial development because of its proximity to the railway station. Its strategic location will provide ample opportunity for commercial development of this land parcel.”
The Rail Land Development Authority (RLDA) is a statutory authority within the Ministry of Railways responsible for railway land development. As part of its development strategy has four key mandates: commercial leasing sites, colony redevelopment, station redevelopment, and multi-functional complexes.
During the current Financial Year, RLDA has leased out Fifteen sites which are situated at Bangalore & Raichur (Karnataka), Liluah & Salt Golah (Howrah), Nizamabad (Telangana), Waltax Road & Egmore (Chennai), Bhopal (MP), Ludhiana (Punjab), Abu Road (Rajasthan), Bhusawal & Solapur (Maharashtra), Bareilly, Varanasi and Gorakhpur in UP for a cumulative lease premium of Rs. 1633 Crore plus Railway assets valuing approx. Rs. 226 Crore shall be developed in Bangalore, Bhopal, Egmore (Chennai), Bareilly and Ludhiana Railway Colonies.
