Bids invited for real estate development at railway land in Telangana
The Rail Land Development Authority (RLDA), a statutory authority under the railways ministry which has the mandate for commercial development of vacant railway lands, plans to grant lease for 99 years for development of South Central Railway land at Rifle Range and Chilakalguda colonies in Secunderabad, Telangana.
A Request for Proposal (RFP) notification has also been issued by RLDA for submission of e-bids online.
RLDA has invited proposals to redevelop mandatory railway infrastructure of 352 residential units and commercial office in an area of 4.69 acres out of total net area of 16.67 acres spread across Rifle Range and Chilakalaguda colonies.
At Rifle Range, the land area available is 7.35 acres and the mandatory railway infrastructure to be built is about 3.75 lakh sq. ft, which includes 6,200 sq.ft of club house and 20,000 sq.ft of commercial space of the 4.69 acres earmarked for redevelopment, for a minimum cost of Rs 115 crore.
Additional 2.66 acres of land at Rifle Range and 9.32 acres of land in Chilakalaguda is available for developers to develop the desired product mix for minimum lease premium of Rs 50 crore.
It should be developed over a period of three years with a grace period of one year, totaling to four years from the date of execution of lease premium.
Developers have to submit bids starting from Rs 50 crore, with the lease premium payable split into three installments. The installment comprises 40% of total lease premium within 60 days from the date of issuance.
A pre-bid meeting for interested developers has been fixed by RLDA on 20 December at 11.30 am at Marigold Hotel in the city wherein all aspects related to the land on offer could be gauged. The details pertaining to the e-tender are available on RLDA website and the tender wizard website: www.tenderwizard.com/RLDA.