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RLDA to lease land parcel in Ludhiana at Rs 108 crore, Real Estate News, Realty Beat

RLDA to lease land parcel in Ludhiana at Rs 108 crore, Real Estate News, ET RealEstate
Rail Land Development Authority (RLDA) has invited bids for leasing a vacant land parcel for the redevelopment of railway colony in Ludhiana, Punjab.

The area of the site spans across 25,257.67 square metre while the area to be leased is around 21185.54 square metre. The proposed site has excellent connectivity to the major transportation centers of the city.

“Ludhiana is an industrial and commercial hub of Punjab, making it one of the significant places of the state. The site proposed to be redeveloped is located at a point strategically connected with other major parts of the state. The redevelopment project by RLDA will enhance the beauty of the city while promising a quality life to the residents,” said Ved Parkash Dudeja, Vice Chairman, RLDA.

The reserve price for the site to be leased for 99 years is Rs 108 crore, while the prescribed FAR available to the developer is 2.0 and 3.0 for residential and commercial respectively.

The concerned site is trapezoidal shaped piece of land with average depth of 90m and a frontage of 240m.

The adjacent area is a well-developed area having mixed land use of commercial as well as residential. Its immediate surroundings include high end independent residential bungalows with mix use retail development in North, South and East and Government Bungalows in West.

Presently, there are 35 railway staff quarters along with few other utility structures existing at site.

Rail Land Development Authority (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.


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