RLDA Seeks Electronic Bids For Leasing A Land Parcel in Nizamabad, Telangana For Commercial Development

RLDA - Rail Land Development Authority has requested online bids to develop a railway land parcel in Nizamabad, Telangana, for commercial use. The 2204.96-square-meter plot is bordered by business and semi-commercial zones. The property is situated in the South Central Railway's Hyderabad Division, near the railway station and large bus terminal.

Tenure

The land will be leased for 45 years at a reserve price of Rs. 3.95 crores, with a specified built-up area of 6173.89 sq. m. The deadline for proposal submissions is 18th April 2022.

The site is near to the Nizamabad Bus Depot and is located in the business sector on an 18 m wide road. The site is bounded on the north and east by the South Central Railway's Nizamabad Railway Station, on the west by the Telangana State Transportation Corporation Bus Stand, and on the south by the master plan road.

Telangana's fastest-growing urban area

"Nizamabad, one of Telangana's fastest-growing urban agglomerations, is situated in the centre of the city, within walking distance of the Government Medical College. It is connected to significant sites by a good road network. Commercial initiatives such as retail space, a hypermarket, or a cheap hotel will be the region's first of its type and will increase the region's real estate, tourist, and investment potential. Given the government's emphasis for the health sector, the land may possibly be suited for a Nursing Home," said Ved Parkash Dudeja, RLDA's vice chairman.

Basic Terms

After being selected, the bidder will have the liberty to carry out the development in accordance with local building codes. The developer retains the right to advertise and sublease developed space for any legal use.

Boost to The Economy

Nizamabad District is situated in Telangana's northwestern area, about 171 kilometres north of the state capital, Hyderabad. The city is the third largest in Telangana and is a significant industrial centre. Khanapur's enterprises include rice mills, a spice park, and the Nizam Sugar Factory. 

The projected IT Tower and Incubation Hub will bolster the local economy's development even more.