Rail Land Development Authority (RLDA) has invited bids for leasing out 124,000 square metres of a railway land parcel situated at Sector 21, Dwarka in Delhi for a period of 99 years.
The reserve price for the land parcel is Rs 1,193 crore, for mixed use (55 per cent residential and 45 per cent commercial) on a combined plot in railway land.
A pre-bid meeting will be held today (10 January) and the last date of e-bid submission is 6 February.
The site is strategically located near Indira Gandhi International Airport in the south west part of New Delhi.
The site has clear frontage on two sides and is accessible from the main road on the western side and the urban extension road on the southern side.
The site is bounded on the north by Dwarka Sector 21 Metro Station and Pacific D21 Mall, on the east by proposed Bijwasan Railway Station, and on the west by proposed ISBT at Dwarka.
RLDA vice chairman Ved Parkash Dudeja said, “the land parcel located near Bijwasan is an ideal location for residential development in the heart of the national capital. The city has always been the most sought-after residential destination for homebuyers; however, in recent decades, the market has been dominated by individual dwellings ranging from bungalows to independent floors.”
Dudeja further said that the new railway passenger terminal is being developed adjacent to this land parcel, which will attract a huge footfall in the area.
“The proposed land parcel will provide developers with a one-of-a-kind opportunity to build a residential/commercial project to meet the rising demand for premium real estate property in New Delhi,” he said.
RLDA is a statutory authority with the Ministry of Railways responsible for railway land development. As part of its development strategy RLDA has four key mandates: leasing of commercial sites and multi-functional complexes, colony redevelopment and station redevelopment.
During the current financial year, RLDA has leased out 22 sites situated at Bengaluru and Raichur (Karnataka), Liluah and Salt Golah (Howrah), Nizamabad (Telangana), Egmore (Chennai), Bhopal (MP), Ludhiana (Punjab), Abu Road and Rana Pratap Nagar (Rajasthan), Bhusawal and Solapur (Maharashtra), Bareilly, Varanasi and Gorakhpur in UP, Katra (J&K), Muzaffarpur (Bihar), Sirsa (Haryana) and Kannur (Kerala) for a cumulative lease premium of Rs 1,916 crore including railway assets valuing approximately Rs 314 crore to be developed at Bengaluru, Bhopal, Egmore (Chennai), Bareilly, Ludhiana, Muzaffarpur and Kannur railway colonies.