Rail Land Development Authority (RLDA) has invited e-bids for leasing over 2,204.96 sqm land parcel for commercial development at Nizamabad, and the site is accessible via the main bus stand as well as the railway station, senior officials informed on Tuesday
The site spanning 2,204.96 sqm is surrounded by commercial and semi-commercial areas and will be leased for 45 years with a referenced built-up area of 6,173.89 sq. m., for a reserve price of ₹ 3.95 crore. The bid submission deadline is April 18.
The location is adjacent to the Nizamabad bus depot and stands on an 18-metre-wide road in the commercial area. The site is bordered by railway station to the north and east, the Telangana State Transportation Corporation (TSRTC) bus stand to the west, and the master plan road to the south.
The successful bidder will have the flexibility of carrying out the development as per local building bylaws and the right to market and sublease built-up area for any lawful purpose. Nizamabad is about 171 km to the north of Hyderabad and is a major industrial hub. The proposed IT Tower and Incubation Hub is expected to help its growth.
“The site is within walking distance of the Government Medical College. An excellent road network connects it to prominent landmarks. Commercial developments, such as a retail space, hypermarket, or budget hotel will be the first of its kind on the site and boost the region’s real estate, tourism, and investment prospects. It could also be suitable for setting up a nursing home,” said RLDA vice-chairman Ved Parkash Dudeja.
During the current financial year, RLDA has leased out various sites at Chennai, Amaravati, Aurangabad (Maharashtra), Asansol (West Bengal), Bareilly (Uttar Pradesh), Ambari (Guwahati) etc. It has also leased out railway colonies in Chilkalguda and Rifle-Range (Secunderabad) and the Rajkot railway colony in the current year for redevelopment, senior officials added.
