Guwahati (Assam) [India], July 13 (ANI): Rail Land Development Authority (RLDA) has invited bids for the leasing of a vacant land parcel for residential-cum-commercial development at Ambari chowk in Guwahati, Assam.
As per an official release of RLDA, the site spans 9,488.22 square meters (sqm)and is situated in the heart of Guwahati, at a prominent corner location of Ambari Chowk, which is just about 1.30 kilometres from Guwahati Railway Station.
"The land parcel falls in Lumding division of the North-East Frontier Railway. It has a potential for Built-Up Area (BUA) of 26,092.61 sqm. with FAR of 2.75 and has a reserve price of INR 69.90 crores for a lease term of 99 years," the release said.
The online pre-bid meeting was conducted by RLDA on June 25 and 13 Local and National Developers participated in the Pre-bid meeting. The deadline for submission of e-bids is 6th August 2021.
According to RLDA, the land is bounded by and has frontage on three sides with CK Agrawala Road in the north, Ariz Path in the east, GNB Road in the south and residences in the west, with excellent connectivity to all parts of the city via the road network.
"Guwahati is referred to as 'Gateway to North East India.' It has witnessed rapid infrastructural development over the years. It is well-connected to West Bengal, Bihar and the rest of India via road, rail and air. The land parcel at Guwahati is suitable for mixed-use development that will have a multiplier effect on the local economy. It will boost realty, retail and economic development in the region," said Ved Parkash Dudeja, Vice Chairman, RLDA.
The release informed that the lessee will be granted the lease rights and right to access the redevelopment land for designing, financing, constructing and vesting of the redevelopment assets.
"He/she will be entrusted to secure necessary approvals from the local authorities for the construction and will be facilitated to complete the construction of the developer portion as per local building bye-laws within four years," it added.
Notably, 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 of commercial sites, colony redevelopment, station redevelopment and multi-functional complexes.
Indian Railways has approximately 43,000 hectares of vacant land across India. RLDA is currently handling 84 railway colony redevelopment projects and has recently leased out a railway colony in Guwahati for redevelopment. (ANI)