Railways to raise Rs 18,000 cr from land monetisation in 2021-22: Ashwini Vaishnaw

New Delhi: The Ministry of Railways has set a target of raising Rs 18,000 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.”

“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.