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Railways eyes ₹7,500 crore from leasing land for commercial use

Mint Mumbai

|

August 19, 2023

Indian Railways plans to invite bids from private companies to lease out 84 surplus plots worth over ₹7,500 crore in the next 18 months, two people aware of the matter said.

Railways eyes ₹7,500 crore from leasing land for commercial use

The move is part of the land monetization plans by the Rail Land Development Authority (RLDA), which is responsible for the redevelopment and commercial exploitation of surplus land. The authority has been entrusted with 119 commercial sites for development, of which bids for 35 with a lease value of ₹2,835 crore have already been awarded.

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