Indian Railway Stations Development Corporation Ltd. (IRSDC) has invited Request for Proposal (RFP) for leasing vacant land parcels for mixed-use development as part of Chandigarh Railway Station redevelopment project. Accordingly, Bids have been invited from interested entities for mixed use development of land parcels on lease rights basis upto 99 years. Notice inviting RFP was published in leading newspapers on 07.02.2021. RFP document is available at: https://www.etenders.gov.in/eprocure/app.
- Four land parcels – SP4 (12,427 sqm.), SP5 (15,027 sqm.), SP6 (17,890 sqm.) and SP7 (11,347 sqm.) span across 56,691 sqm. of land, with a total allowable Built-Up Area (BUA) of 2,32,341 sqm.
- Bidders can bid for all the four land parcels or can also bid for individual land parcels, as per their choice.
- The pre-bid meeting will be held on 12th March 2021, and the deadline for bid submission is 16th April 2021.
“Chandigarh Railway Station will be developed into a world class transport hub to offer a superior travel experience to passengers. These vacant land parcels which are part of the Chandigarh railway station redevelopment are suitable for a mixed-use development that will accentuate real estate prospects in the vicinity. The redevelopment will also boost tourism, generate employment and have a cascading impact on the local economy,” said Sh. Lohia, Managing Director and Chief Executive Officer, IRSDC.
Salient features of the project are:
Union Cabinet approval has been obtained which enables:
- Long Term lease-rights of upto 99 years for real estate.
- No Change in Land use is required Pan India for railway station redevelopment.
- I RSDC shall approve its master plan in consultation with local authorities in terms of power conferred under Section 11 of Railway Act, 1989.
- The Lessee is allowed to enter into multiple sub leases of built up area.
- Highest Lease Premium shall be the Bid parameter which shall be payable in multiple instalments.
- Alternate Investment Funds (AIF) or Foreign Investment Fund are also eligible to participate.
Redevelopment of Railway Stations in India:
Redevelopment of railway stations across India is a priority program of the Ministry of Railways, Government of India. This agenda is being driven with full force by the Government with the participation of private players as a part of PPP projects.
- As part of this agenda, work on redevelopment of 123 stations is in progress.
- Out of this, Redevelopment of railway stations across India is a priority program of the Ministry of Railways, Government of India.
- This agenda is being driven with full force by the Government with the participation of private players as a part of PPP projects.
- As part of this agenda, work on redevelopment of 123 stations is in progress.
- Out of this, IRSDC is working on 61 stations and RLDA is working on 62 stations.
- As per current estimates, total investment needed for redevelopment of 123 stations along with real estate development is about Rs. 50,000 crore.
About IRSDC:
Indian Railway Stations Development Corporation Ltd. (IRSDC) is a Joint venture company of RLDA, RITES and IRCON. IRSDC is at the core of Indian Railway’s mission of transforming country’s railway stations into world-class 24×7 hubs and is the Nodal Agency and the main Project Development Agency (PDA) for redevelopment of Railway stations. These redeveloped hubs will be called ‘Railopolis’, as it will attract huge investment and business opportunities.
- To fast track the redevelopment of Railway Stations and harness true value of commercial development, following tools have been developed by IRSDC/MoR to streamline all processes for planning, designing, tendering, implementation and management of Railway Stations in India:-
- Model Agreements for Station redevelopment and Station Facility Management;
- Updation of Manual for Standards and Specifications for Railway Stations; brought out by MoR.
- Handbook for Master planning & Value Creation for RailwayStation (Re)development.
- Harmonized Guidelines for Standards of Accessibility & Provisions of Facilities for Persons with Disabilities (Divyangjan) in Indian Railways – by MoR.
- Form based codes for Commercial Development within Railway Land, comprising of:-
- Codes for Station Area Layout Regulating Plans.
- Codes for Property Development Cards (Commercial Development).
- Codes for Architectural Design within Commercial Development.
- Codes for Green Buildings within Commercial Development.
- Handbook for Preparation of Layout Regulating Plans and Property Development Cards. 7. Codes for upgradation of Heritage Railway Assets (For full project lifecycle).
With Application of these tools developed by IRSDC/MoR, the availability of public areas in Railopolis shall increase thus making such developed railway stations as true “City Centres”.
Source: IRSDC-Press Release | Image Credit: IRSDC
