RLDA calls for e-bids to lease land in Chennai

Two of the land parcels of 2.5 acre each are at Ayanavaram Railway Colony along the Konnur High Road and Duncan Road while two other land parcels are located at Waltax Road measuring 0.27 acre and at Pulianthope - 2.09 acre. 

RLDA VC Ved Prakash Dudeja said “Chennai has emerged as a real estate hotspot due to the growth of the IT/ITes sector, infra development and conducive policy landscape over the past few years. These land parcel sites possess excellent location and connectivity. The real estate development at these sites will bolster prices, generate employment opportunities and boost the local economy.” 

He said the lessees of these sites will be mandated to carry out development as per local building by-laws and complete the developer portion within 10 years. 

“The selected bidder will be required to procure all necessary clearances for the same. He/she will be permitted to market and sub-lease the Built-up Area for any lawful activity,” he added. 

The Waltax Road parcel which spans across 1116.67 sq meter with an FSI of 1.5, is kept at the reserve price of Rs 4.19 crore and the deadline for bid submission is informed to be February 26.