Real Estate Players Express Interest In Developing Residential Complex At Railway Land Worth Over Rs 200 Crore In Agra

Leading real estate players have shown interest in developing residential complex at 90,304 sq metre railway land worth over Rs 200 crore at Belaganj in Agra.

Rail Land Development Authority (RLDA), has invited bids for residential development on the rail land. Proposed land parcel will be leased out for 99 years. The reserved price of the land is Rs 213.80 crore.

According to the RLDA, the Railways subsidiary, the online pre-bid meeting was held last week on in which many developers attended and their queries were answered. The last date of submission of e-Bid is 3 August 2023.

Belanganj Railway land parcel located in the heart of Agra City having excellent connectivity by the road.

The land parcel is situated in close proximity to Taj Mahal and Agra Fort. While on its north lies the bustling 15 m wide Motilal Nehru Road, providing convenient access to the land parcel, on the eastern side, the arterial road ensures seamless connectivity and facilitates smooth traffic flow.

To the south, a residential colony adds a touch of tranquility to the surroundings, offering a peaceful environment for residential development. Finally, the western side is flanked by a 6-meter-wide arterial road, serving as a thoroughfare and enhancing accessibility. With its strategic location and excellent connectivity, this land parcel promises great avenues for mixed-use development.

RLDA Vice Chairman Ved Parkash Dudeja said "In the heart of Agra, Uttar Pradesh, lies Belanganj—a neighborhood steeped in history and brimming with cultural treasures. Situated along the banks of the majestic Yamuna River, Belanganj is a testament to architectural brilliance, with its stunning monuments and bustling markets".

He further said, "From the iconic Taj Mahal to the majestic Agra Fort, this enchanting locality serves as a gateway to India's most revered landmarks. Yet, it is the vibrant bazaars, offering traditional crafts, exquisite textiles, and mouthwatering street food, that truly capture the essence of Belanganj. Exploring this captivating neighborhood is an immersive experience that leaves an indelible mark on the hearts of travelers, transporting them to the rich heritage and culture of Agra".

During the current Financial Year, RLDA has leased out various sites which is situated at Waltax Road in Chennai, Ajmer in Rajasthan, Bijwasan in Delhi and Solapur in Maharashtra for a cumulative lease premium of Rs 1,622 crore including railway assets valuing approximately of Rs 7.54 crore to be developed in Kharagpur Railway Colony.

RLDA has recently awarded the station redevelopment works for CSMT Railway Station on EPC (Engineering Procurement and Construction) model.