IRSDC invites RFP for appointment of Programme Management Unit for Providing Transaction & Financial Advisory Services for Station Redevelopment Programme

Indian Railway Stations Development Corporation Ltd. (IRSDC) has invited Request for Proposal for Appointment of Programme Management Unit for Providing Transaction & Financial Advisory Services to Indian Railway Stations Development Corporation for the Station Redevelopment Programme.

  • Tender Reference Number: IRSDC/HQ/RFP/30/2021/PMU
  • Document Download / Sale Start Date: 24-Jul-2021
  • Document Download / Sale End Date: 03-Aug-2021
  • Bid Submission Start Date: 29-Jul-2021
  • Bid Submission End Date: 03-Aug-2021
  • Bid Opening Date: 03-Aug-2021


  • Ministry of Railways (MOR) has decided to develop/redevelop certain identified railway stations across India through a Special Purpose Vehicle (SPV) named as ‘Indian Railway Stations Development Corporation Limited’ (hereinafter referred to as “IRSDC”) established under Companies Act, 1956 with equity participation of Ircon International Limited (IRCON) and Rail Land Development Authority (RLDA) & RITES for undertaking the Projects.
  • IRSDC has been approved as the project development agency. IRSDC, as the project development agency, will be carrying out the bidding process for the Project, including provision of development plans master plan, architectural drawings etc., consult with urban local bodies/other statutory authorities while approving the plans, so that the development is harmonious with surrounding development, generally following National Transit Oriented Development (TOD) Policy. References to “IRSDC” in this RFP and the Bidding Documents shall be construed as references to “Authority”.
  • Union Cabinet has also approved that IRSDC shall consult urban local bodies/other statutory authorities while approving its plans in terms of power conferred to it under Section 11 of Railways Act 1989, so that the development is harmonious with surrounding development, generally following National Transit Oriented Development (TOD) Policy.

Request for Proposal:

  • The Authority invites Proposals (the “Proposal”) for appointment of a Consultancy Firm as a Programme Management Unit (the “PMU”) for providing Transaction & Financial Advisory Services to IRSDC for station redevelopment programme (the “Project”). The PMU shall provide services as per the Terms of Reference (TOR).
  • IRSDC intends to select the PMU through an online competitive bidding from the Thirteen firms listed below in accordance with the procedure set out herein.
    • RITES Ltd.
    • Deloitte Touche Tohmatsu India LLP
    • Anarock Property Consultant Pvt. Ltd.
    • Pricewaterhouse Coopers Pvt. Ltd.
    • M/s CBRE South Asia Pvt Ltd, New Delhi
    • M/s Knight Frank (India) Pvt Ltd
    • M/s JLL Property Consultants (India) Pvt Ltd
    • M/s Feedback Infra Pvt Ltd Gurgaon
    • M/s Cushman & Wakefield Property Advisors Pvt Ltd.
    • The Boston Consulting Group (India) Pvt. Ltd.
    • M/s Ernst & Young LLP, New Delhi
    • M/s. KPMG India Pvt. Ltd.
    • M/s. Mazars Advisory LLP

Objective of Project management Unit (PMU):

  • The PMU consultant shall undertake this consultancy in order to achieve the objective of IRSDC specified above. 
  • The detailed scope of services specified below is based on IRSDC’s understanding of the scope of service. 
  • However, it should be noted that the scope of work specified below is not exhaustive and will not be limited, it will be more innovate and explorative in nature for developing a successful station development programme. 
  • The Consultant shall be required to carry out any additional related works, if any, to meet the objectives.

Scope of Services:

  • The scope of services shall include coordinating and implementation of projects under station redevelopment, review and assist the Authority for all activities associated with project development, bid process management including finalization of bidding documents and bidding process for railway station redevelopment programme. 
  • It shall also include preparation of Business Plan, Financial Model etc and retendering, if any. 
  • In addition to the Scope of Services mentioned herein, any other work in the related matters as required and allocated by the Authority shall form the part of Scope of Work.
    • The PMU shall set a strategic procurement plan for the project related bidders and manage the
    • procurement timetable to ensure timely appointment of the Contractor/ Developer.
    • The PMU shall assist IRSDC/ prepare documents in relation to projects which may include preparing documents/ presentations for PPPAC approval, giving comments / opinions / recommendations sought by the Ministries / departments / implementing agencies under the State /Indian Central Government with respect to the projects being developed /implemented by Ministry of Railways/IRSDC and other related works as advised by IRSDC.

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 Railways mission of transforming the country’s railway stations into world-class 24×7 hubs and is the Nodal Agency and the main Project Development Agency (PDA) for the redevelopment of Railway stations.
  • These redeveloped hubs will be called ‘Railopoli, as it will attract huge investment and business opportunities.

To fast track the redevelopment of Railway Stations and harness the true value of commercial development, the 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 far Railway Station (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
  • Codes for up-gradation of Heritage Railway Assets (For full project lifecycle).

The above RFQ documents can be downloaded from the website

Source: IRSDC-Tender | Image Credit: IRSDC