Indian Railways Station Redevelopment Scheme to Offer Land to Developers

Indian Railways Station Redevelopment Scheme to Offer Land to Developers

The Indian Railways, under its massive station redevelopment programme, is set to offer more than 144 acres of land with its 23 stations for commercial development. The developers would be selected via competitive bidding, marking the first phase of the scheme under which surplus/vacant land with over 400 stations are to be redeveloped. As many as 18 of the 23 projects will come go under the hammer in the current financial year. “The tenders will be opened gradually over July onwards which will be finalised by April-May 2018,” said a railway official requesting not to be named.

While there are some stations that will offer as little as 1.6 acres (Chennai Central) for commercial redevelopment, there are others including Yesvantpur (20 acres), Udaipur City (10.7 acres) and Howrah (10 acres) that will offer huge plots for commercial use. Large infrastructure companies such as Tata Realty and Infrastructure, GMR, Essel Infra, IL&FS and a few Malaysian companies are actively looking to participate in the programme and some of them are already working on-ground to prepare bids. Last week, the secretary general (works), government of Malaysia, Dato Sri Zohari Haji Akob — who is also the nodal officer for projects investment in India — led a delegation along with the Malaysian high commissioner in India and held a meeting with railway officials regarding station redevelopment.

 

 

Source Link – Khabar India

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