RLDA Invites Bids for 10,128-sqm Plot in Bengaluru

The Rail Land Development Authority (RLDA), has invited online bids for leasing out a land parcel spread across 10,128 sq m at Platform Road in Bengaluru with a reserve price of Rs 90 crore. The plot would be leased for 99 years, RLDA officials said. The land parcel is in proximity to the Bangalore City Railway Station as well as Kempegowda Interstate Bus Terminal also known as Majestics Bus Depot. Various residential colonies such as VV Giri Colony, Shastri Nagar, Lakshmanpuri and Jakkarayanakere are also located close to the site. These localities comprise standalone residential dwelling units and commercial establishments. Apollo Hospital at Sheshadripuram is within 500 metres from the project site. The land is ideal for residential (mixed) use development which will be leased for a time period of 99 years. It enjoys excellent connectivity with residential, educational, commercial and retail establishments making it an ideal land bank for any kind of residential or mixed-use development. The ever-increasing millennial workforce of Bengaluru has significantly influenced the city’s real estate market. While the IT professionals working in reputed multinationals and scouting for globally inspired lifestyles have driven the residential market in the city, the commercial real estate has been steered by the budding entrepreneurs.