HYDERABAD: The Rail Land Development Authority (RLDA) has invited online bids for the commercial development of a railway land parcel at Nizamabad. The site spanning 2204.96 sq.m is surrounded by commercial and semi-commercial areas and comes under the Hyderabad Division of South Central Railway.
The land will be leased for 45 years with a referenced built-up area of 6173.89 sq.m for a reserve price of Rs 3.95 crore. The bid submission deadline is April 18. The location is adjacent to the Nizamabad bus depot. The site is bordered by the Nizamabad railway station.
“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. In light of the government’s plans to push the health sector, the site could also be suitable for setting up a Nursing Home,” said Ved Parkash Dudeja, Vice Chairman, RLDA. Upon selection, the bidder will have the flexibility of carrying out the development as per local building bye-laws.
The developer will have the right to market and sublease built-up area for any lawful purpose.Nizamabad city ranks third in Telangana and is a major industrial hub. Rice mills in Khanapur, spice park, and the Nizam Sugar Factory are some of the industries in the area. The growth of the local economy will be further strengthened by the proposed IT Tower and Incubation Hub.