RLDA to lease land parcels in city for commercial development
- Country:
- India
The Rail Land DevelopmentAuthority (RLDA) on Thursday said it would lease over sevenacres of land in the city for commercial development andinvited online bids.
RLDA, a statutory authority under the Ministry ofRailways, said the 7.36 acres of four land parcels arelocated at Waltax Road, Pulianthope and Ayanavaram RailwayColony here.
''The (land) parcels shall be leased out for 45years,'' a release here said.
The deadline for bid submission for the Waltax Roadsite, close to the central railway station here, is February26, March 4 for Ayanavaram and April 23 for Puliyanthope site,it added.
RLDA Vice Chairman Ved Prakash Dudeja was quoted in therelease as saying that Chennai has emerged as a real estatehotspot due to the growth of the IT/ITes sector,infrastructural development and conducive policy landscapeover the past few years.
''These sites possess excellent location andconnectivity. The real estate development at these sites willbolster prices, generate employment opportunities and boostthe local economy,'' he said.
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