Online Bids Invited By RLDA For Leasing Of Land At Victoria Crescent, Chennai
The Rail Land Development Authority (RLDA) has invited online bids for leasing of land at Victoria Crescent, Chennai. The 4300 sq meter land parcel is to be leased for 99 years. The lease out would be for residential project development and the reserve price for it is Rs 41 Crores. The said Victoria Crescent is a strategically located site and is surrounded by residential, commercial, retail, institutional, and entertainment hubs. Through such leasing out of railway’s vacant land RLDA aims to generate revenue by non-tariff measures for life. At present, the RLDA is involved in 84 railway colony redevelopment projects.