The Railway Land Improvement Authority is lease seven land parcels in Chennai for industrial improvement with an eye fixed on cashing in on the emergence of the southern metro as a outstanding realty hub owing to the expansion of the IT/ITes sector.
In line with Ved Parkash Dudeja, vice-chairman, RLDA, upcoming developments, similar to Chennai Metro, the excellent infrastructure street improvement programme of Tamil Nadu and the upgradation of the Chennai Worldwide Airport will additional bolster realty prospects within the metropolis. It will profit the Railways which have a number of land parcels in Chennai which might be strategically positioned and appropriate for industrial improvement.
The land improvement arm of the Railways which is chargeable for leasing of business websites, is within the technique of inviting on-line bids for leasing the 7 land parcels, two of which of two.5 acre every, and one land parcel of three.6 acre are within the Ayanavaram railway colony, located alongside Konnur Excessive Highway and Duncan Highway.
These three land parcels are well-connected with residential improvement within the neighborhood and have a forty five years lease interval. The reserve worth for Half A with built-up-area potential of three,53,925 sq ft is saved at Rs 28.5 crore, for Half B of two,17,800 sq ft is Rs 20 crore and that for Half C of three,13,632 sq ft is Rs 28 crore. The bid has been invited with the opening date of August 24, 2021.
One other land parcel of 0.27 acre, positioned at Waltax Highway web site, has been discovered appropriate for petrol pumps, CNG stations and battery charging stations for e-vehicles. The reserve worth of the positioning is saved at Rs 4.19 crore for a lease interval of 45 years and the bid has been invited with the final date of e-bid submission being 12 August, 2021. The Pulianthope web site spans 2.09 acre with entry to quite a few services and might be leased for 45 years with a reserve worth of Rs 11.60 crore. Bids acquired for this web site are being thought-about for award of LOA.
The land parcel at Victoria Crescent web site spanning 0.43 hectare, has glorious connectivity to different components of Chennai and might be leased out for 99 years with a reserve worth of Rs 41 crore. Bids have been invited and might be opened on September 2, 2021. Aside from this, a request for proposal for the redevelopment of the Egmore railway colony might be invited shortly.