Rail Land Development Authority (RLDA), a statutory entity of Indian Railways, has invited bids for leasing out a 5,532 square meter land parcel at Renigunta near temple town Tirupati for commercial development.
The land parcel is located near Renigunta Junction Railway Station and will be leased out for 45 years, RLDA said in a release here.
It set Rs 6.77 crore as the reserve price for the land for a proposed built-up area of 7,502 sq. m.
RLDA Vice-Chairman Ved Parkash Dudeja said the proposed land would be ideal for commercial development and augment the socio-economic development of the area, a suburb of Tirupati.
Dudeja said during the current financial year, RLDA has leased out 10 railway sites at Liluah (Howrah), Nizamabad (Telangana), Walltax Road (Chennai), Egmore (Chennai), Bhopal (Madhya Pradesh), Ludhiana (Punjab), Abu Road (Rajasthan), Chaupla Bareilly, Varanasi and Gorakhpur in Uttar Pradesh for a cumulative lease premium of Rs 726 crore.
In addition, railway assets valued at about Rs 163 crore would be developed in Bhopal, Egmore (Chennai), Bareilly, and Ludhiana railway colonies, he added.