New Delhi, Nov 20 (PTI) The Rail Land Development Authority (RLDA) has invited online bids for leasing a land parcel for 99 years at Aurangabad in Maharashtra for developing the Aurangabad Industrial Area as part of the Delhi-Mumbai Industrial Corridor.

This 3.5 hectare land parcel is suitable for commercial, residential or mixed land use development. The reserve price of the land is Rs 101 crore and the last date to apply for the e-bid is December 8, the RLDA said in a statement on Friday.

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The site is located off the Jalna Road in a densely populated area comprising residential areas like Bhagya Nagar, Samarth Nagar, Sneh Nagar and ST Colony that predominantly cater to the upper-middle income segment and the higher income segment of the population, it said.

"The area has gained prominence due to the development of the Aurangabad Industrial City (AURIC), which is just eight kms from the Aurangabad airport, and as a part of the Delhi–Mumbai Industrial Corridor (DMIC)," RLDA vice-chairman Ved Parkash Dudeja said.

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"The land parcel has immense potential for commercial development. Located in the retail hub, the site is easily accessible from the Jalna Road at one end and from Bhagya Nagar, a residential pocket on the other," the official said.

The land is encroachment free and the area has a robust power, water, sewerage and solid waste management infrastructure. The development of the Delhi-Mumbai Industrial Corridor will further enhance its prospects, Parkash said.

"Hence, the land would offer good return on investment to developers," the RLDA vice-chairman said.

Aurangabad is one of the most populated cities in Maharashtra and has emerged as a key urban centre due to the presence of industry and tourism, the statement said.

RLDA is a statutory body under the Ministry of Railways and was formed for the development of vacant Railway land for commercial use to generate revenue by non-tariff measures, it said.

Currently, the Indian Railways has around 43,000 hectares of vacant land across India. RLDA has over 79 sites across the country for leasing and eligible developers for each will be selected through an open and transparent bid process, according to the statement.

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