New Delhi and Mumbai railway station redevelopment to offer 5 million sq ft commercial space

NEW DELHI: More than 60 private firms including Société Nationale des chemin de fer français (SNCF), Tata Projects Ltd, Anchorage Infrastructure, I Squared Capital, Adani group and GMR group are in race to develop New Delhi and Mumbai’s Chhatrapati Shivaji Maharaj Terminus.

Indian Railway, on Friday, conducted a joint pre-bid meeting for both the stations, which are expected to be redeveloped within four years.

Rail Land Development Authority (RLDA) is executing New Delhi while Indian Railway Stations Development Corporation Ltd. (IRSDC) is executing the Mumbai project.

The meeting was addressed by Amitabh Kant, Chairman, NITI Aayog and Vinod Kumar Yadav, Chairman and CEO, Railway Board.

The last date of submission of the bid for NDLS is November 6, 2020.

“The New Delhi Railway Station has a rich cultural legacy and historical significance. This project will transform it into a world-class and one-stop destination for transport, retail, entertainment needs to offer convenience, world-class amenities, and curated experiences to commuters,” RLDA said in a statement.

The project will also boost the real estate development of the surrounding regions, augment the tourism potential and generate employment opportunities.

NDLS is a flagship redevelopment project that is expected to incur a capital expenditure of around Rs 6500 crore.

The objective of the project is to position the New Delhi Railway Station as a multi-modal hub by upgrading infrastructure.

There will also be an elevated concourse with segregation of arriving and departing passengers, refurbished platforms with easy access from the concourse level, mezzanine level exclusively for passenger facilities such as lounges, food courts and restrooms, an elevated road network with multiple entry and exit points and a multi-level car parking facility.

“The project would also include a significant commercial component entailing a mix of retail, office, and hospitality developments such as 5-star hotels, budget hotels and serviced apartments on approximately 30 acres of land,” RLDA said.

Private players will redevelop an area of 5 lakh square meters at the New Delhi station and another 2.6 lakh square meters surrounding it for commercial purposes.

New Delhi Railway Station is the largest and second busiest railway station in the country and handles approximately 4.5 lakh passengers daily. The station handles around 400 trains per day which are expected to increase due to higher operational efficiencies resulting from the redevelopment and better yard utilization.

On lines of NDLS, the redevelopment of CSMT, Mumbai also include the integration of various modes of transport to make it a multi-modal transport hub.

According to IRSDC, pre-bid meeting received good response from the industry and developers and fund houses are also interested in this investment opportunity.

Besides developers and architects, fund houses such as Anchorage Infrastructure Investment Holdings Ltd and Brookfield and consultancy firms such as JLL, Boston Consultancy Group, KPMG, PwC India and EY also attended the pre-bid meeting.

“CSMT is a historic and UNESCO World Heritage site located in the heart of Mumbai. The CSMT railway station will function like a city centre rail mall where in addition to a passenger’s transportation needs, his daily needs are also fulfilled, like- Retail, F&B, entertainment, souvenir shopping,” IRSDC said in a statement.

The CSMT project cost is of Rs 1,642 crore and the cost of real estate is Rs 1433 crore. The total real estate builtup area is 25 lakh sq ft at CSMT, WadiBunder and Byculla.

Source link

Posts You May Love to Read !!

Leave a Comment