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Private Sector | Tamil Nadu - India | PID: 195758
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The Rail Land Development Authority (RLDA) is in the process of inviting e-bids for leasing seven land parcels for commercial development in Chennai, Tamil Nadu, as the city has emerged as a realty hub with the growth of the IT sector in the past few years
a request for proposal (RfP) for the redevelopment of the Egmore Railway Colony will also be invited soon
Out of the seven identified land parcels, three parcels are situated at the Ayanavaram site and the bid opening date for these is set as 24 August 2021
The fourth land parcel is at the Waltax Road site which spans across an area of 1,116.67 sq mtr and the reserve price of the site is kept at Rs 4.19 crore for a lease period of 45 years. The last date of e-bid submission for the Waltax Road site land parcel is set as 12 August 2021
The fifth land parcel is at the Pulianthope site which spans 2.09 acre and the reserve price for which is kept at Rs 11.60 crore to be leased for a period of 45 years
Another land parcel is located at Victoria Crescent site, which is surrounded by high-end institutional and residential establishments. The reserve price for this parcel is kept at Rs 41 crore and will be leased out for a period of 99 years. The bids for this site will be opened on 2 September 2021
The Egmore Railway Colony site is a promising location for retail, commercial, hotel development and area of the site is approximately 3.616 acre and will be available for lease for 45 years
The lessees of these sites will be mandated to and complete the developer portion within 10 years
The selected bidder will be expected to procure all necessary clearances and carry out development as per local building bylaws. The Lessee will have the right to market and sub-lease built-up area for any lawful activity
| Updated on: 09 - Jul - 2021
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