Railway Land Development Authority (RLDA) will tomorrow auction around 40-acres of land near Sarai Rohilla station in the national capital and is expecting to fetch up to Rs 1,500 crore from this prime land.
According to RLDA sources, there are 19 companies, including Emaar MGF, Parsvnath Developers, BPTP, Indiabulls and Godrej Properties, which have pre-qualified to participate in the bidding process.
The authority is expecting to garner Rs 1,200-1,500 crore from the auction, they added.
The site, three km away from New Delhi Railway Station, is considered to be the prime railway land.
The sources said that nearly 30 million sq ft of area could be developed at this site, out of which 90 per cent would be housing.
RLDA has more than 1 lakh acres of surplus land across the country, which it plans to put on block in a phased manner.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app