The land development Authority of the Railways which is responsible for the leasing of commercial sites, is in the process of inviting online bids for leasing the 7 land parcels, two of which of 2.5 acre each, and one land parcel of 3.6 acre area in the Ayanavaram railway colony, situated along Konnur High Road and Duncan Road.
According to Ved Parkash Dudeja, vice-chairman, Railway Land Development Authority, the upcoming developments, such as Chennai Metro, the comprehensive infrastructure road development programme of Tamil Nadu and the upgradation of the Chennai International Airport will further bolster realty prospects in the city. This will benefit the Railways which have several land parcels in Chennai that are strategically located and suitable for commercial development.
out of the seven identified land parcels, three parcels are situated at the Ayanavaram site and the bid opening date for those three is set as August 24, 2021. The fourth land parcel is at the Waltax road site which spans across an area of 1,116.67 square metres and the reserve price of the site is kept at Rs 4.19 crore for a lease period of 45 years. The last date of e-bid submission for the Waltax road site land parcel is set as August 12, 2021.
The fifth land parcel is at the Pulianthope site which spans 2.09 acres and the reserve price for which is kept at Rs 11.60 crore to be leased for a period of 45 years.
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