ASSOCHAM Urging Railways to Develop Waste Land

February 17, 2007	(Be the first to rate this story!)  Loading ...
Print This Story   Email This Story Subscribe Newsletter

A multi branched strategy has been proposed by the Associated Chambers of Commerce and Industry of India (ASSOCHAM), including evolution of PPP model, to commercialise about 45,000 hectare of wasted land for property development. The organization also proposes to execute the best development of the land through increased safety measures in place and adds to the fares per km.

This pre- budget representation will further help Indian Railways to increase revenues and profits and undertake the process of modernization programmed without seeking any monetary help from any international organizations.

As per the data compiled by ASSOCHAM, Indian Railways Minister, Mr. Laloo Prasad Yadav requires to incorporate different provisions with sufficient fiscal concessions to woo potential real estate investors to contribute in development of wasted land acquired by Railways to develop models, small apartments, logging houses, pizza huts to increase revenues and land for profiteering.

Indian Railway Finance Corporation Ltd should focus towards its expansion plans with the help of Finance Ministry and issue Letter of Intent (LoIs), inviting interests from public to commercially utilize such huge landscape of Indian Railway for productive purpose, says ASSOCHAM.

The financial institution falling under Indian Railways should extend long term loans to real estate developers and hotelier with concessional interest rates for developments of its land with debt equity ratio decided by it.

News Published Under:   Real Estate India |

Comments