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RLDA invites bids lo lease out 2 plots in Jammu

Press Trust of India  |  New Delhi 

The Railway Land Development Authority (RLDA)has invited bids for leasing out its two plots at Katra in Jammu and Kashmir with reserve price of over Rs 14 crore each.

RLDA has invited RFP ( Request for Proposal) tolease two plots at Katra for commercial development.

The combined plot is spread across 15,352 sq metre and is located near Shri Mata Vaishno Devi Katra railway station. The plot is proposed to be leased out in two parts with a reserve price of Rs 14.18 crore and Rs 14.97 crore, RLDA said in a statement.

Nestled in the hills, this scenic property can be developed as a destination wedding farmhouse or a 3 or 5 star hotel. The region is a prominent tourist destination. Hence it will offer a good return on investment to real estate developers," saidVed Prakash Dudeja, Vice- Chairman, RLDA.

"The plot is strategically located andis well-connected with Katra Railway station. Hence a commercial development in this area will boost tourism and create employmentopportunities for the local population," he added.

The site can be leased to one or multiple developers, as the case may be, and the upfront lease premium has to be paid in four instalments of 25 per cent each, within three years.

The last date for submission of e-id for these plots is April 9, 2020. Eligible highest bidder would be issued letter of award.

RLDA has already leased out an adjoining plot located in the circulation area of Katra railway station. This 4500-sq metreproperty was leased out for a net present value of Rs 6.71 crore and is being developed as a hotel.

RLDA has over 70 sites across India for leasing and the eligible winners for each will be selected through an open and transparent bid process.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, March 24 2020. 16:18 IST