Indian Railways has fast-tracked its project for vacant land monetisation, a move that could boost its investible resources. The Rail Land Development Authority (RLDA), which is empowered to identify portions of the transporter’s vacant land prone to commercial exploitation, has identified 17 plots for leasing out and aims to generate Rs 6,000 crore as rentals over the next 8-10 years, officials said. While eight of these plots are in Chennai, five are in Mumbai and two in Secunderabad. IR’s total vacant land is estimated at a massive 47,300 hectares, but only a portion of this area can practically be used for commercial purposes, as 90% of it is linear land on the sides of tracks.
The RLDA’s track record in monetisation of land is not satisfactory as it was hamstrung by land use restrictions imposed by state governments and other issues, including an earlier policy of earmarking land to it in a piecemeal fashion by the Railway Board. Read More…
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