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Railways identifies 305 sites for commercial usage


Railways, which recently leased one of its vacant land at a prime location in Delhi to a private builder for about Rs 1,650 crore, has identified more than 300 sites for commercial usage across the country.
Currently, the Railways have approximately 43,000 hectares of vacant land which is not required for operational purposes.
These sites are being offered to private developers for commercial purpose.
About 167 of the 305 identified sites will be used for development of multi-function complex (MFC) and 138 others for commercial development, Railway sources said.
“The list is not final. Identification of such vacant land is an ongoing process,” they said.
A number of these locations fall in West Bengal — the home state of former Railway Minister Ms Mamata Banerjee and her successor Mr Dinesh Trivedi.
A glance through the list of these sites reveals that 38 out of the 138 locations marked for commercial development across the country are in West Bengal.
Railways had earned a major dividend early this year when it leased 15.5 hectare land in Sarai Rohilla in Delhi to realty firm Parsvnath for about Rs 1,650 crore.
It is expecting a similar cash flow through leasing the identified sites which will help the largest public undertaking to partially tide over its financial crisis.

Source -  The Hindu Businessline

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