Knight Frank India bags consultancy contract for development of Railway Land at Shakurbasti, Delhi

Rail Land Development Authority (RLDA) has recently issued LoA (Letter of Acceptance) to M/s. Knight Frank India Pvt Ltd for providing consultancy  services for Development of Railway Land at Part Land Parcel ‘A’ of Shakurbasti, Delhi.

Contract Details:

  • RFP No.: RLDA/RFP/CT-06of 2021 Dated: 02.02.2021
  • Name of work: Engagement of Financial & Marketing Consultant from Empanelled Financial & Marketing Consultants for providing consultancy services for Development of Railway Land at Part Land Parcel ‘A’ of Shakurbasti, Delhi.

Background:

  • Indian Railways is one of the biggest landowners in the country.
  • While majority of the land of around 4.3 lakh hectares is under use for Railway operations including tracks, station and yard structures, around 43,000 hectares lie vacant and unutilized.
  • The subject site under consideration is for the consultancy for development of Railway Land at Part Land Parcel ‘A’ of Shakurbasti, Delhi.
  • For development of the surplus land for commercial development, RLDA (a statutory authority) was constituted in November 2006 by an amendment to  the Railway  Act 1989 as a separate entity under the Ministry of Railways to undertake all tasks related to property development on railway land under the control of the Ministry of Railways.
  • In order to expedite the commercial utilization of the sites, RLDA had empanelled reputed Consultants having in-depth experience in the fields of:-
    • Architectural & Real Estate
    • Financial  &  Marketing  separately.
  • The Empanelment of Consultants in the field of Financial & Marketing was done by RLDA vide RFE No. RLDA/RFE/CT-5 of 2015 and following 10 Consultants were Empaneled:-
    • M/s Darashaw & Company Pvt. Ltd.
    • M/s Ernst & Young LLP
    • 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 CRISIL Risk & Infrastructure Solutions Ltd., Mumbai
    • ADROIT & Co.& RSP Advisors  (Consortium) (previously Consortium of M/s PDMAG & Co. Chartered Accountantsand M/s RSP Advisors)
    • M/s Cushman & Wakefield Property Advisers  Private Limited (Previously M/s DTZ International Property Advisors (P) Ltd., Gurgaon)
    • M/s InnovestAdvisory Services Pvt. Ltd., Gurgaon

Objective:

The primary objective of this consultancy is to:

  • For Architects and Real Estate Consultants (Not Applicable in this Tender)
    • Study and survey the site, collect and verify land records, prepare feasibility report, Master Plan including land use, urban design and associated parameters
    • Preliminary  design  &  architectural  concept  plans  for commercial  development  of the Project site
    • Architectural concept plans for the redevelopment works
  • For Financial and Marketing Consultants
    • Develop the financial model, suggest a project model
    • Customise the bid documents based on RLDA‟s standard bid document
    • Market the project
    • Assist  RLDA  in managing the  bidding  process for  the  development  of  the  project

Source: RLDA-Tender Update | Image Credit (representational): IRSDC