New Delhi [India], July 21 (ANI): Rail Land Development Authority (RLDA), a statutory authority of Indian Railways, has invited bids for the grant of leases for commercial development of railway land at Kailash Puram along National Highway (NH)-16 in Visakhapatnam, Andhra Pradesh.
As per the official statement of the RLDA, the development will consist of 60 per cent residential and 40 per cent commercial. The land, with an approximate area of 4.71 acres (19,061 sqm), will be leased for 99 years with a reserve price of Rs 170 crore. The built-up area (BUA) offered is 91,403.31 sqm.
It is also highlighted that the site, with a frontage of approximately 60 metres, is located at Dondaparthi Village, (FMB) Survey No. 11, Seethammadhara Mandal, Visakhapatnam.
Strategically located, the land parcel is situated next to the Andhra Pradesh Micro Irrigation Project District Office. The site is bound to the north and east by Defence Land, on the south by NH-16, and by a secondary road on the west, the statement said.
The land parcel has excellent development potential as it is located close to residential areas and educational institutions. Its proximity to the proposed Visakhapatnam Metro Rail Project’s Steel Plant Junction to Kommadi Corridor on NH-16 will provide excellent connectivity to other parts of the city, the statement further said.
Notably, Visakhapatnam, popularly known as Vizag, is the largest city in Andhra Pradesh, located on the eastern coast of India. It is a rapidly developing port city in the state. The city has experienced significant industrial growth, with major industries including steel, petroleum refining, and fertilisers.
The Rail Land Development Authority (RLDA) is a statutory authority under the Ministry of Railways for the development of railway land. It has four key mandates as a part of its development plan: leasing commercial sites, colony redevelopment, station redevelopment, and multi-functional complexes. (ANI)
