Railways to lease 3700 acre land
Within the next two years, Indian Railways is planning to lease land parcels, which is 1,500 hectare (3,700) to earn more than Rs 5,500 crore, according to an official.
Around 52 cities where there are surplus land parcels that can be leased out, said an authority.
The commercial development of surplus land is undertaken by Rail Land Development Authority (RLDA) which has identified around 136 sites across the country covering 1,504 hectare which is not required for operational purposes in the near future.
The plots are in cities such as Bangalore, Chennai, Raipur, Siliguri, Visakhapatnam and in Vijayawada. The RLDA is expected to generate revenue of Rs 1,714 crore and has already fixed developers for Bangalore, Gwalior, Gaya, Sarai Rohilla in Delhi and Vijayawada in Andhra Pradesh. The land is leased for 30-45 years with Sarai Rohilla for 90 years.
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