RLDA To Conduct Virtual Roadshows On Redevelopment Of New Delhi Railway Station

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Rail Land Development Authority (RLDA), a statutory body under the Ministry of Railways, is planning to conduct virtual roadshows on the redevelopment of the New Delhi Railway Station (NDLS) project. These roadshows will be organized online from 14th to 19th January 2021 with investors and developers from various countries like Singapore, Australia, Dubai and Spain, to discuss the project concept and the proposed transaction structure with the potential bidders. The objective of the initiative is to engage with relevant stakeholders such as leading international real estate developers, infrastructure players and financial institutions from advanced geographies such as Europe, Australia and South Asia. RLDA has also developed a walkthrough of the project that will be showcased during the roadshow for an in-depth understanding.

“The redevelopment of New Delhi Railway Station is among our flagship projects that will boost tourism prospects and usher a socio-economic transformation of the region. The project is attracting interest from various stakeholders, and we intend to sustain the momentum through virtual roadshows. The initiative will enlighten them about the various aspects of the project," said Shri Ved Parkash Dudeja, Vice Chairman, RLDA. The Station is strategically located in the heart of Delhi and has proximity to Connaught Place, Delhi’s prime commercial hub. It is connected to the IGI Airport through the Airport Express Line metro and to the Delhi NCR via Yellow Line metro. Adequate connectivity through all modes of road transport is available on both sides of the Station. The project would be developed on a Design-Build Finance Operate Transfer (DBFOT) model for a concession period of 60 years. It is expected to incur the capital expenditure at around USD 680 million. The project offers multiple revenue streams to the developer, including revenue from real estate rights and is slated to be completed in around four years. The project is currently at Request for Qualification (RfQ) stage with due date as 2nd February 2021. A pre-bid conference was held in the month of September 2020 that witnessed the participation of prominent players such as Adani, GMR, JKB Infra, Arabian Construction Company, SNCF, Anchorage, etc. The Master Plan area is approximately 120 hectares, out of which 88 hectares is being planned in Phase 1 (the Project). RLDA is the approving authority for the Master Plan. Further, to expedite the approvals and clearances, an Apex Committee under the chairmanship of Hon’ble Lieutenant Governor of Delhi has been constituted. The Project involves development of around 12 lakh sqm of built up area as a result of higher FSI permitted under the TOD (Transit Oriented Development) Policy. The Project has two distinct components:

i) Station Component- the new terminal building, along with amenities, railway offices, railway quarters and ancillary railway works
ii) Station Estate- retail spaces adjoining the station, commercial office space, hotels and residential space. The station will be equipped with new-age amenities such as Dome shaped terminal buildings with 2-Arrival and 2-Departure at concourse level, two Multi-Modal Transport Hubs (MMTH) on each side of the Station, 40 floor high rise Twin towers (with Hotel / Offices and Retail at Podium) and Pedestrian Boulevard with High Street shopping. The Station is proposed to be a multi-modal hub for transport integration and development. It will become the first project to be undertaken on Transit-Oriented Development (TOD) concept in Delhi NCR.

RLDA is currently working on redevelopment of 62 stations in a phased manner while its subsidiary, IRSDC has taken up another 61 stations. In the first phase, RLDA has prioritized prominent stations like New Delhi, Tirupati, Dehradun, Nellore, Panipat, Puducherry, Ernakulam etc. for redevelopment. The railway stations across India will be redeveloped on PPP Model.

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Tags : Realty Spotlight redevelopment New Delhi Railway Station Rail Land Development Authority (RLDA) Ministry of Railways Virtual Roadshows