The Rail Land Development Authority (RLDA) is opening up more parcels of vacant land for commercial development in the city in order to generate revenue for the Railway Ministry.
In the latest land parcels, the RLDA proposes to lease out a total of seven acres of land parcels located in various parts of the city for 45 years. According to a press release, the land parcels are available for commercial development in four sites on Wall Tax Road, Pulianthope, and Ayanavaram Railway Colony.
Two sites measuring 2.5 acres each would be available in the Ayanavaram railway colony, a vacant plot of land measuring more than 2 acres in Pulianthope and one on Wall Tax Road.
Ved Prakash Dudeja, Vice Chairman, RLDA, said that as Chennai has a big real estate market because of the presence of a number of information technology companies and also due to the several infrastructure projects being carried out by the State government, these sites, well connected by arterial roads, could be developed into commercial parks.
The RLDA had, in September 2020 invited bids for leasing out of property for commercial development near the Tambaram Sanatorium railway station. It has proposals for allowing more commercial development of vacant railway properties for commercial exploitation in the future.
