Patna, Jan 19 (PTI) The Rail Land Development Authority (RLDA), a statutory body under the Ministry of Railways, is inviting bids for leasing out a plot at a prime location in the city, measuring 7361 square meters. According to RLDA Vice-Chairman Ved Parkash Dudeja, the site for which bids can be submitted till March 7, has to be developed in two parts. One part measuring 5,514.23 sqm will be leased out, for commercial development, for a period of 99 years while an additional area of 1,846.77 sqm is earmarked for railway redevelopment works, Dudeja said. The entire site will be handed over in a single phase, he said. "The site falls under the jurisdiction of Patna Municipal Corporation (PMC). It is to be redeveloped fully as per Master Plan for Patna-2031. The site has a permissible Floor Space Index of 2.5. Reserve price of the land proposed to be leased out has been kept at Rs 47 Crore,” he added. The developer is mandated to redevelop 59 units of type 2 railway quarters with a provision for internal circulation roads, landscaping, civic amenities along with their maintenance for a period of three years, the RLDA Vice-Chairman said. The redevelopment part has to be completed in two years, Dudeja said. PTI NAC MM MM