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Indian Railways to club realty monetisation with revamp of stations
Reverting to its previous plan, Indian Railways has decided to combine real estate monetisation with the proposed redevelopment of 16 stations, including Anand Vihar in Delhi and Thane, Tambram, Dadar, Kalyan, and Andheri in Mumbai.
During the current fiscal year, the 16 stations will be bid out through a public-private partnership (PPP). Railways had removed associated real estate monetisation as part of station redevelopment but have now reverted to the original plan due to concerns that the private sector would not be able to recover its investment through station usage fees.
This railway station land monetisation will assist private players in recouping their investment in modernising the stations.
Pune, Coimbatore, Bangalore City, Baroda, Bhopal, Chennai Central, Old Delhi, Nizamuddin, Avadi, and Vijayawada railway stations are also on the list of stations to be bid out under the PPP route.
Certain design elements are expected to be present in every modernised station.
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