Railways in plans to monetise its lands

Railways in plans to monetise its lands
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Highlights

Rail Land Development Authority (RLDA), a statutory authority under Ministry of Railways, has come up with plans for granting of 99 years lease hold rights for commercial development of railway land (Millennium Park) near Mettuguda Metro Station, Secunderabad.

Secunderabad: Rail Land Development Authority (RLDA), a statutory authority under Ministry of Railways, has come up with plans for granting of 99 years lease hold rights for commercial development of railway land (Millennium Park) near Mettuguda Metro Station, Secunderabad.

A Request for Proposal (RFP) notification has been issued in this regard with the due date of submission of e-bids online being fixed on 6th December, 2019. The proposed site admeasuring 2.30 acres (9302 sq.mtrs) is located at the prominent Mettuguda traffic junction and is adjacent to Mettuguda Metro Station. Although the site is in residential zone, commercial office/retail development is also possible subject to local development control norms.

With a huge spurt in economic and commercial activity towards East Hyderabad, there has been a significant increase in traffic on the Sangeet 'X' Roads-Uppal corridor of the city, on which the proposed railway land being offered on lease is situated.

This generates immense potential for commercial use of the site, with yet another advantage being the Mettuguda Metro Station in the vicinity, which enables smooth access.

A pre-bid meeting for interested developers has been fixed by RLDA on November 1 at 11.30 hours at Hotel Minerva Grand, Secunderabad, wherein all aspects related to the land on offer can be gauged into.

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