[India Property, Real Estate India] Railways set to free prime land in Delhi

[Noida Property 7]

Delhi Property

Opening its surplus land for commercial use, the Railways hope to rake in Rs 1,500-2,000 crore by inviting bids for a 90-year lease of a prime site in Sarai Rohilla in the heart of the Capital. The land being freed totals 15.5 hectares — around 38 acres.

The plan is to get a private developer to redevelop 4.5 hectares of the total land for railway use and develop the remaining 11 hectares for private residential and community facilities. 

Bids for development of this site close on November 11 and the successful bidder is likely to be awarded the project in the next couple of weeks.

Major players like DLF, Parsvnath and Emaar MGF are said to be in the running to bag this multi-crore project. 

The site in question is located near Jhandewalan and Karol Bagh in Central Delhi and is near the Kishanganj Railway Station along the Delhi-Jaipur rail line. It is currently occupied by railway quarters and an abandoned steam loco shed. The site is located 3 km from the New Delhi Railway Station.


http://www.indianexpress.com/news/railways-set-to-free-prime-land-in-heart-of-delhi/708962/

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Posted By Noida Property 7 to India Property, Real Estate India at 11/10/2010 12:55:00 PM