India, Sept. 1 -- Indian Railways (IR) has decided to put two underutilised plots at prime locations in Mahalaxmi and Bandra on the block in a bid to raise revenues. The Rail Land Development Authority (RLDA), whose mandate covers commercial exploitation of IR's vast assets in land, called for bids from parties interested in leasing the Mahalaxmi plot in August, while the request for proposals for the Bandra plot is likely to be floated later this week, sources in IR told Hindustan Times.

The railways expects to earn more than Rs.993 crore and Rs.5,000 crore towards lease charges for 99 years for the 2.67-acre Mahalaxmi plot and the 10.6-acre Bandra plot, respectively. Developers who lease the plots for luxury residential/ commercial pro...