i Develop Stocks Advisory

Railway surplus land to be auctioned The Railway's much awaited commercial development plan for surplus land is set to go under hammer in the second week of April. In Delhi's Sarai Rohilla, one of the ten sites selected for commercial development in the first phase on public-priv ate partnership basis, the first railway property would be handed over to a private developer on April 11.While eight bidders are in the race for getting about 25 acres of prime railway land in Sarai Rohilla, the reserve price is fixed at Rs 675 crore fo r the bidding. The bidding would be opened in the second week of April and the highest bidder would be entrusted with the responsibility of developing a group housing complexes complete with all modern facilities including shopping complexes and health services, said a senior railway official. Besides the reserve price, the developer has to renovate 750 railway quarters near the site as part of the development agreement. The report of the feasibility study for commercial development of the 10 sites spread over 265 acres of land has been submit ted to the Rail Land Development Authority (RLDA). The 10 sites are located in Delhi, Kanpur, Gwalior, Vizag, Kolkata, and Bangalore. After Sarai Rohilla, the next bidding would be for Nirala Nagar land in Kanpur, the official said.