Chandigarh rly station revamp delayed
The Chandigarh railway station redevelopment project, a part of the Indian Railways redevelopment drive, has been stretched by a year.
Ambala Divisional Railway Manager (DRM) Gurinder Mohan Singh told media sources that the project has been kept on hold for another year. The tenders have been invited, but the contractor has demanded some revisions in expenditure and labour availability, said Singh.
Last month, the Indian Railway Stations Development Corporation Ltd (IRSDC) had invited a Request for Proposal (RFP) to lease vacant land parcels up to 99 years for mixed use development as part of the Chandigarh Railway Station redevelopment project.
The bids are for four land parcels—17,890 square metre (sq m), 15,027 sq m, 12,427 sq m and 11,347 sq m spanning across 56,691 sq m of land, with a total allowable built-up area (BUA) of 232,341 sq m. According to IRSDC, interested parties can bid for all the four land parcels or can also bid for individual land parcels, depending on their choice. Alternative Investment Funds (AIF), or Foreign Investment Funds (FIF), can also participate in the bidding process.
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The project was approved in 2014, after which Indian Railway Stations Development Corporation Limited (IRSDC) was constituted, and a Special Purpose Vehicle (SPV) took over the railway station in 2019.
The Ministry of Railways (MoR) has initiated the redevelopment of railway stations programmed across India, driven by the participation of private players as a part of public-private partnership (PPP) projects.
Currently, the redevelopment of 123 stations is in progress and out of this, Rail Land Development Authority (RLDA) is working on 62 stations, and IRSDC is working on 61 stations. According to current estimates, the total investment required for the redevelopment of 123 stations along with real estate development is about Rs 50,000 crore, according to IRSDC.