The Union Cabinet has approved the redevelopment of railway stations on ‘as is where is’ basis, through open invitation from interested parties with their designs and business ideas including permitting commercial development of real estate by the Zonal Railways.
About 400 stations in the ‘A-1’ and ‘A’ category shall be offered for redevelopment by inviting open bids from interested parties. These stations are to be developed by leveraging real estate development of land and air space in and around the stations.
This approval will enable the Ministry of Railways to accelerate the redevelopment of ‘A-1’ and ‘A’ category stations. These category of stations are generally located in metros, major cities, pilgrimage centres and important tourist destinations across the country. It will also encourage innovative ideas from interested parties at no cost to the Railways.
Redevelopment of identified stations is undertaken through the Indian Stations Development Corporation Ltd. (IRSDC). As the IRSDC is able to undertake redevelopment of only a few stations, and there is a need to redevelop a large number of stations, it has been proposed to redevelop stations through invitation of open bids from interested parties, a government release said. ISRDC is a joint venture between IRCON and Rail Land Development Authority.