To reap the maximum benefit out of the station redevelopment programme, the railways ministry plans to increasingly lean towards a 90-year lease structure for developers.
“If we increase the lease period to 90 years, the benefits multiply by 1.5 times. The current approval from the Cabinet is for 45 years…once we have tested the market with this current lot of 23 stations, in the next lot we will approach the Cabinet to allow us to lease for 90 years,” said a railway ministry official requesting anonymity.
The Indian Railways is all set to start work on the first railway redevelopment project at Habibganj in Bhopal, Madhya Pradesh, and simultaneously put 23 more stations up for tender, as reported by The Financial Express. The stations include Pune, Howrah, Kanpur Central, Chennai Central and Bandra Terminus, among others. Read More…
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