The Rail Land Development Authority (RLDA) has floated a Request for Proposal to lease out a 3,719 sq m plot at Tambaram, a southern suburb of Chennai.

The site at East Tambaram is 7 km away from the airport, 3 km from the nearest bus stand and 2 km from Tambaram Railway Station which is the third busiest station and second-largest revenue generator in Chennai.

The reserve price is pegged at ₹8 crores. It is permitted for uses under Institutional Land Area by CMDA for 45 years. An online Pre-Bid conference was hosted by RLDA on October 14.

“Bolstered by a spate of infrastructural developments, the growth of IT/ITes sector and a robust infrastructure of retail complexes, hospitals and schools, Chennai has carved an identity of a stable real estate market. Being well-connected to the railway station, bus stand and airport, the site located in East Tambaram, South Chennai, has immense potential for institutional development. The planned development on the site will boost infrastructure escalating prices of real estate projects in the vicinity and herald the socio-economic transformation of the region,” said Ved Parkash Dudeja, Vice Chairman, RLDA.

Institutional development, High rises allowed

The site is owned by Southern Railway and is permitted for institutional development and is also eligible for the construction of high-rise buildings.

The lessee will be mandated to provide buildings and building services, civic amenities, vehicle parking for users and visitors on surface and basements, internal security, roads and internal circulation network, and landscaping on the site. The lessee will be granted marketing and sub-leasing rights as per terms and conditions of agreement, the release said.

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