RLDA to lease out railway land in Kerala’s Kannur for commercial development

KANNUR: The Rail Land Development Authority (RLDA), a statutory authority under the Indian Railways, has decided to lease out close to five acres of railway land in this northern Kerala district for commercial development.

The authority has invited bids for leasing 4.93 acres of railway land near the Kannur railway station for 45 years, RLDA said in a release.

The reserve price for the land parcel is Rs 22.6 crore and the developers shall get rights to develop commercial infrastructure as per their plan and will also be entrusted with redevelopment of the existing railway colony at a separate site made available by the railways, the release said.

The deadline for submitting the e-bids is November 7, 2022, it said.

“The proposed land parcel is ideal for commercial development because of its proximity to the railway station. Its strategic location will provide ample opportunity for commercial development of this land parcel,” RLDA said in the release.

During the current financial year, RLDA has leased out 15 sites in various states for a cumulative lease premium of Rs 1,633 crore and railway assets worth around Rs 226 crore shall be developed in Bengaluru, Bhopal, Egmore (Chennai), Bareilly and Ludhiana railway colonies, it said.