Indian Railways Earned Rs.511 Crore From Property Development

Indian Railways (IR) earned Rs 511 crore for the first half of FY20 by leasing land, property development and parcel space selling according to Railway Minister Piyush Goyal.

The revenue earned through leasing of land for building, other purposes and property development of land and air space for the year 2018-19 and 2019-20 (upto Sept – 2019) is as under:

(in Rs crore)         

YearLand Leased out for Building PurposeLand Leased out for other purposeProperty Development of Land/Air space
2019-20 (upto Sept – 2019)6.04503.471.31

Vacant land not required by IR is let out by Rail Land Development Authority (RLDA) to generate revenue through commercial development on long term lease. RLDA has been given 75 sites measuring 239.52 hectares for commercial development as on date.

For the period April-October for the fiscal FY20 RLDA earned Rs 845.94 crore.

IR earned Rs 645.22 crore in FY19 revenue through leasing of parcel space under the ‘Comprehensive Parcel Leasing Policy’ (CPLP) and ‘Parcel Cargo Express Trains (PCET) policy.

As on March 31, 2019, the total land available with the Indian Railways was 4.78 lakh hectares. Of this, about 0.51 lakh hectares were vacant.

[This vacant land is mostly in the form of narrow strips along tracks and utilized for servicing and maintenance of track, bridges and other infrastructure. It is also utilized for execution of various infrastructural projects such as doubling/tripling and traffic facilities works and the like.]

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