The Rail Land Development Authority (RLDA) has launched tenders for the lease of 60,407 sqm of land in the Old Station Railway Colony in Dhanbad.

The country has a minimum price of Rs 44 crore. The total area is 81,788 m², of which 60,407 m² will be let for 99 years for residential development. The remaining 21,381 m² of land will be used for the redevelopment of the existing railway quarters.

The Old Station Railway Colony is located on the second entrance side of Dhanbad Junction Railway Station. The site is within the boundaries of Dhanbad Municipal Corporation (DMC), near Loco Talab, Dhanbad.

Vice Chairman of RLDA, Ved Parkash Dudeja, said Dhanbad has grown by leaps and bounds in recent years, including substantial penetration of the information technology (IT) industry.

He said that the real estate sector in Dhanbad has been experiencing a revival over the past ten years. Due to the seamless road connection from Dhanbad to the other parts of the city, the location of the site is ideal for residential development, which will further strengthen Dhanbad's economy.

RLDA is a statutory authority under the Ministry of Railways, which is responsible for creating assets for Indian Railways by developing vacant railway land for commercial use to generate revenue based on non-tariff measures.

The pre-bid meeting took place online on 14 June. The developers at local and national level attended the pre-bid meeting. The deadline for submitting the e-bids is July 22, 2022.