Railway Offers 5 Million Sq Ft Commercial Space
Indian Railway will offer over five million square feet of commercial space at Gwalior, Nagpur, Amritsar and Sabarmati railway stations under the redevelopment plan. JKB, GMR, ISQ Capital, Kalpataru, FairFax/Anchorage, Monte Carlo, GR Infrastructure, Kalyan Toll, Cube Construction are some of the ap
Published -
Jun 29, 2020 8:24 AM
Indian Railway will offer over five million square feet of commercial space at Gwalior, Nagpur, Amritsar and Sabarmati railway stations under the redevelopment plan. JKB, GMR, ISQ Capital, Kalpataru, FairFax/Anchorage, Monte Carlo, GR Infrastructure, Kalyan Toll, Cube Construction are some of the applicants. The above four Projects hold distinction of being the first railway projects to have in principle approval of Public Private Partnership Appraisal Committee (PPPAC), formed by GOI for PPP projects. These four stations are also the first ones to have provision of pre-determined user charges on passengers and visitors as one of the main revenue stream for the concessionaire of the redeveloped stations. The Indian Railway Stations Development Corporation Ltd. (IRSDC), opened the RFQ applications of these four railway stations. IRSDC has received response from developers and fund houses despite the current COVID19 scenario. In total, IRSDC has received 32 successful applications. Indian Railway plans to transform country’s railway stations into world-class 24x7 hubs under the redevelopment plan. These redeveloped hubs will be called as ‘Railopolis’, and are expected to attract huge investment and business opportunities.
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