Bhopal: Rail Land Development Authority leases out land to develop railway colony

Bhopal (Madhya Pradesh): Rail Land Development Authority (RLDA) has leased out its 55,890 square metre land in Bhopal to M/s Samdariya Builders Private Limited, Jabalpur at Rs 33 crore.

Bhopal Railway Division will go for the re-development of the existing Western Railway Colony, Bhopal in coordination with Rail Land Development Authority (RLDA).

RLDA has accepted the proposal of M/s Samdariya Builders Private Limited, Jabalpur for 99 years on lease of railway land for the development of railway colony with grant in an area of ??about 55,890 sq/m with proposed price Rs 33 crore, according to railway officials.

The annual rent for leased area is Rs 1 lakh per annum and will be payable to Railway Land Development Authority in advance every year.

The effective date of payment of the annual lease rent shall commence from the day immediately after execution of lease agreement. Initially it shall be paid for the remaining period of the financial year and thereafter at the beginning of each financial year (not later than April 10).

Advance payment will continue to be made every year till the end of the period. For this work all terms and conditions mentioned in the agreement will be valid for both the parties.

Divisional Railway Manager (DRM) Saurabh Bandyopadhyay said that the development/re-development of the colony would be done in a systematic manner. The residents of the colony will be provided with all necessary facilities along with a clean and pleasant environment.