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New Delhi, Nov. 16 The Railways plans to get into group housing with the Rail Land Development Authority (RLDA) inviting technical bids from real estate developers for 10 locations.

Out of the 10 locations, RLDA has invited bids for housing opportunities at seven locations that include Delhi, Kanpur, Visakhapatnam and some sites near Kolkata.

It has already handed over 108 sites of various sizes across the country to RLDA for commercial development. Depending on the size of land, RLDA would invite bids for leasing out the land to developers for various purposes that include hotels, warehouses, commercial development and group housing.

In the first lot for 10 sites, it has invited bids from players for commercial development, group housing and hotels. “RLDA would first qualify players on the basis of technical bids and then invite financial bids from players,” official sources told Business Line. The requisite technical and financial qualification varies from site to site depending on the size of the site and purpose for which it would be developed.

Meanwhile, RLDA is preparing the request for proposal for the site development. “We are working with IL&FS Infrastructure Development Corporation to prepare the bid document,” said sources adding that IL&FS IDC would also be advising RLDA on bid selection.

The body is holding talks with several Government bodies, including the Delhi Metro Rail Corporation, that have engaged in commercial land development to adopt the best-practices of their experience. For group housing projects, while RLDA is contemplating giving the land on lease to developers for about 90 years; for the commercial projects, it plans to give the railway land on lease for 30 years.

More Stories on : Real Estate & Construction | Railways

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