The Rail land Development Authority (RLDA) selects a private developer thru tender to build bungalows and three-story apartment blocks on 5.38 hectares. There are ten railway bungalows on Boulevard Road, adjacent to the Tis Hazari metro station, which is near Rajpur Road, which are being demolished.
The Delhi Civil Lines, home to the residences of the city's political elite, including the chief minister and the lieutenant governor, is looking at new luxury accommodation worth Rs 10-20 crore, thanks to its land Asset utilization plan of RLDA.
The railway colony has great potential ... High-end residential development is a self-contained neighborhood with sophisticated facilities. Its strategic location and excellent connectivity make it a preferred destination for homeowners, ”said Ved Prakash Dudeja, vice chairman of the Railland Development Authority. The Railways estimated that the project would generate around Rs 400 crore. It plans to select a private developer by tender.
“This kind of land is a gold mine for railways… These bungalows can easily sell for between Rs 1,50,000 to Rs 200,000 per square yard. The developer can plan for 1,000 square yards of bungalows each. They range from premium to super luxury. It is not difficult to sell in the area as it is not available anywhere, ”said Rohit Chopra, founder of Sand Advisory, a Delhi-based boutique consultancy firm. He said the bungalows could be sold for Rs 10-20 crore.
Most traditional families in North Delhi are looking for an opportunity to upgrade themselves. After Covid, we want to have open spaces for the rich bungalows.
The railway plot is called Bungalow Zone, Civil Lines. Established as a civilian quarters during colonial rule, the area hosts Delhi University, Delhi Delhi Legislative Assembly, Tis Hazari Court, as well as extensive official and private residences
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