Indian Railways : RLDA's initiative of monetising its land reserves
Rail Land Development Authority
Next financial year, Indian Railways plans to generate about Rs 5,000 crore by monetising its land reserves. The initiative, led by the Rail Land Development Authority (RLDA), involves five projects across the country.
So far this financial year, RLDA has generated Rs 937 crore by way of public-private partnerships. It expects to garner Rs 1,000 crore by the end of 2013-14.
For RLDA, a residential project in Sarai Rohilla here was one of the first big-ticket projects to take off this year. The project could fetch the railways as much as Rs 1,650 crore. Here, of the 15.27 hectares, Parsvnath Developers will build residential and shopping complexes, etc, on about 11 hectares. For the remaining land, the developer will build 750 quarters for the railways.
Key upcoming projects of the Rail Land Development Authority
- Ashok Vihar, Delhi
- Nirala Nagar, Kanpur
- Aishbagh, Lucknow
- NH-5, Vishakhapatnam
- Halisahar, Calcutta
Other residential and commercial projects also are expected to come up in Ashok Vihar (Delhi), Bandra East, Kurla and Mahalaxmi (Mumbai), Nirala Nagar (Kanpur), Aishbagh (Lucknow), etc.
“Even if we manage to award two or three projects this year, we will get about Rs 5,000-6,000 crore. These are big projects and the tenders for the project in Ashok Vihar, Delhi, and Bandra East, Mumbai, will be floated by next month,” said Y P Singh, vice-chairman, RLDA.
Courtesy : Business Standard