Snapshot
The proposed site for residential development is rectangular in shape and is well connected to an extensive network of rail, road, and air.
The Floor Space Index (FSI) being offered is 1.50 for the complete plot size while the reserve price of this site has been pegged at Rs 79.40 crore for a lease period of 99 years.
Rail Land Development Authority (RLDA) has invited bids for leasing a vacant plot of land measuring 70,606 sqm for the purpose of residential development near Jhusi station in Prayagraj.
The proposed site for residential development is rectangular in shape and is well connected to an extensive network of rail, road, and air.
The Floor Space Index (FSI) being offered is 1.50 for the complete plot size while the reserve price of this site has been pegged at Rs 79.40 crore for a lease period of 99 years.
The access to the site under the Varanasi Division of North Eastern Railway (NER) in Uttar Pradesh, is highly convenient, with the current front road being 12 meters wide, which is proposed to be further widened up to 24 meters.
This plot of land is surrounded by prominent landmarks like the Civil Line bus depot in the west, Nishtha hospital in the east, Jhusi railway station in the south, and low-rise residential buildings towards the north.
RLDA Vice Chairman Ved Parkash Dudeja said, “Jhusi is a place of historical importance, having Neolithic origins. This town is located across the Ganges River and is today well connected with Prayagraj through the Shastri Bridge. As commerce has been growing, the infrastructure is also enhancing day after day.”
He further said “Today, Jhusi mainly comprises residential apartments, plots, and independent houses. It is an excellent and most conducive spot to kickstart an aggressive real estate bustle.”
The online Pre-Bid meeting was held last month where prominent national and local level developers participated. The last date of e-bid submission is January 31, 2022.
The Rail Land Development Authority under the Ministry of Railways has four key mandates as a part of its development plan, namely leasing of commercial sites and redevelopment of colonies, stations and multi-functional complexes.