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…
Latest posts by indianexpress. (see all)
- Chennai-Salem highway: Environmentalist, actor among those arrested for opposing project - June 19, 2018
- Amid Plans To Ramp Up Target From 175 GW To 227 GW: Transmission Wrangles Threaten To Hold Up Green Energy Push - June 17, 2018
- IRCTC-Indian Railways: Here’s what you should be served if your train is running late - June 14, 2018