Dept. of Posts to set up Postal Land Development Authority

In a bid to commercially exploit vacant plots of land under its ownership, the Department of Posts is planning to set up a Postal Land Development Authority (PLDA), a limited liability special-purpose vehicle aimed at setting up Postal Estates on around 1,900 such plots. A proposal to this effect is likely to come up for approval before the Union Cabinet on Thursday (21.2.08).
The move, akin to the Railway Ministry’s plan of setting up a Rail Land Development Authority (RLDA), is essentially aimed at consolidating the vacant plots of land lying unused with the Department of Posts. The move is expected to contribute in improving the brand image of the department, in addition to allowing commercial utilization of existing building and real estates.
The Cabinet Committee on Economic Affairs (CCEA), in the past, has directed the Department of Posts to come up with a plan to commercially exploit the vacant land it owns in consultation with the Finance Ministry and Urban Development department. Following this, the Postal Services Board approved the note for setting up the PLDA. Following the Planning Commission’s advice, the Department of Posts, in July 2006, engaged a consultant to undertake a market survey on commercial development of land on four vacant plots.
(Source: ‘The Indian Express dt. 21.2.08)