Railways to raise Rs 1,800 cr from land monetisation in 2021-22: Ashwini Vaishnaw

• 110 sites measuring 336.29 Hectare (approximately) have been entrusted to RLDA including land parcels in the state of Maharashtra
• Railways has identified assets, including trains, railway redevelopment projects, land parcels, and railway colonies, among others, worth Rs 54,000 crore for monetisation

New Delhi: The Ministry of Railways has set a target of raising Rs 1,800 crore from monetisation of railway land parcels, property development of land and airspace for financial year 2021-22, Railways Minister Ashwini Vaishnaw told the Lok Sabha on July 30. In a written response to a question, the minister said, "Ministry of Railways has fixed the target of Rs 1,800 crore for earning from Land Monetisation/Property Development of land/air space through RLDA for the financial year 2021-22."

'110 sites handed over to RLDA for monetisation'

"As on date, 110 sites measuring 336.29 Hectare (approximately) have been entrusted to RLDA including land parcels in the State of Maharashtra. 14 sites measuring 38.20 Hectare (approximately) in the state of Maharashtra have been entrusted to RLDA for commercial development," the minister told the Lok Sabha. The Railway Land Development Authority (RLDA) is a statutory body, a division of the railway ministry that develops vacant land for commercial use.

Vacant Railway land not required by the Railways for its immediate future operational needs is leased through open, transparent and competitive bidding for commercial/property development in interim period wherever feasible through RLDA in order to mobilise additional financial resources. 

Railways' asset monetisation plan

Railways has identified assets, including trains, railway redevelopment projects, land parcels, and railway colonies, among others, worth Rs 54,000 crore for monetisation, Vaishnaw had told the Lok Sabha in response to a separate question last week. These assets are to be monetised over a period of four years between 2021 and 2025. The list of assets identified for monetisation includes induction of 150 modern trainsets through PPP (Public Private Partnership) in Private Passenger Train Operator Project (PTO), Station Re-Development Projects through PPP, non-core Railway land parcels, multi-functional complexes and Railway colonies.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)