Railway Land Development Authority (RLDA) will tomorrow auction around 40-acres of land near Sarai Rohilla station in the national capital and is expecting to fetch up to Rs 1,500 crore from this prime land.
According to RLDA sources, there are 19 companies, including Emaar MGF, Parsvnath Developers, BPTP, Indiabulls and Godrej Properties, which have pre-qualified to participate in the bidding process.
The authority is expecting to garner Rs 1,200-1,500 crore from the auction, they added.
The site, three km away from New Delhi Railway Station, is considered to be the prime railway land.
The sources said that nearly 30 million sq ft of area could be developed at this site, out of which 90 per cent would be housing.
RLDA has more than 1 lakh acres of surplus land across the country, which it plans to put on block in a phased manner.