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Rail Land Development Authority to monetise 17 land parcels

Thursday, 25 Feb 2021
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The Rail Land Development Authority (RLDA) has identified 17 land parcels, with a revenue potential of Rs 3,000 crore, for development along the upcoming Bengaluru Suburban Rail Project (BSRP).

The authority is currently examining the land details and will soon invite private players to develop retail, commercial and residential projects along the suburban rail track. RLDA has requested the Karnataka government that no change in land use should be required once RLDA allots the land.

The Centre had approved the Ministry of Railways proposal for construction of BSRP in Bengaluru City in October 2020. The project includes construction of four suburban rail corridors with a total route length of 148.17 km.

The project will be implemented by the Rail Infrastructure Development Company (Karnataka), a joint venture company set up by the Ministry of Railways with the government of Karnataka as a special purpose vehicle (SPV).

The project is proposed to be completed in six years at an estimated cost of Rs 15,767 crore.

RLDA is currently working on redevelopment of 62 stations in a phased manner while its subsidiary, IRSDC, has taken up another 61 stations. In Phase-I, RLDA has prioritised prominent stations such as New Delhi, Tirupati, Dehradun, Nellore, Panipat, Puducherry and Ernakulam for redevelopment.

Railway stations across India will be redeveloped under the public private partnership model. RLDA, a statutory body under the Ministry of Railways for development of vacant railways land, has more than 84 commercial (greenfield) sites across India for leasing. Eligible developers for each will be selected through an open and transparent bid process.

RLDA is also handling 84 railway colony redevelopment projects. Recently it leased out a railway colony in Guwahati for redevelopment.

 

 
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