Rail Land Development Authority (RLDA) has invited bids for leasing a land parcel of 7,361 square metre for commercial and residential development at an estimated cost of nearly Rs 60 crore at the site of existing Loco Colony in Patna.
The site is located adjacent to the Patna Junction Railway Station, near platform number 10 under the Danapur Division of the East Central Railway.
The total construction cost of railway redevelopment works, including maintenance, is estimated at Rs 12.40 crore, while the reserve price of the land is Rs 47 crore.
As per the Patna Master Plan-2031, the location is under the local jurisdiction of Patna Municipal Corporation (PMC).
The site is divided into two parts, of which one part spanning 1,847 sqm is earmarked for railway redevelopment works while the other part measuring 5,514 sqm will be leased out for 99 years for development.
The pre-bid meeting was held on 13 September 2021 and there was good response from local and national developers. The deadline for bid submission is 25 October 2021.
“Patna is witnessing tremendous infrastructural up-gradation in the past few years,” said RLDA vice chairman Ved Parkash Dudeja.
Referring to the proposed land parcel for redevelopment, Dudeja said, “the site is strategically located near the Patna Junction Railway Station — one of the busiest in India and has robust social infrastructure such as offices, hotels, shopping complexes in the vicinity. The redevelopment work will not only ensure a better quality of life to inhabitants but also lead to a multiplier effect on the local economy.”
The lessee will be mandated to redevelop 59 units of Type II railway quarters in one part with a provision for roads and internal circulation work, landscaping, civic amenities and their maintenance for three years.
In the process, the lessee may be required to obtain requisite clearances from government authorities. The developer will be required to complete the work within four years.
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.
Indian Railways has approximately 43,000 hectares of vacant land across India. RLDA is currently handling 84 railway colony redevelopment projects and has recently leased out three railway colonies in Guwahati and Secunderabad for redevelopment. RLDA has over 100 commercial (greenfield) sites across India for leasing, and the eligible developers for each will be selected through an open and transparent bidding process.
RLDA is now working on 112 railway stations in a phased manner. In the first phase, RLDA has prioritised prominent stations like New Delhi, Tirupati, Dehradun, Nellore, Cuttack, Lucknow and Puducherry for redevelopment. The railway stations across India will be redeveloped on a PPP/EPC model as a part of smart city projects launched by the government of India.