DELHI: Minister of Railways Suresh Prabhakar Prabhu launched the first phase of the train station redevelopment program for 23 major Railway Stations on the Indian Railways’ train network. The measure was announced in the Budget presentation by Finance Minister Arun Jaitley on Feb 1.
Chairman, Railway Board, A.K. Mital said that the 23 stations for redevelopment have been chosen after detailed feasibility studies carried out by strategic advisors Boston Consulting Group (BCG).
The Railway Board has devised a plan to provide amenities at the stations through the PPP model by leveraging the real estate available at the railway stations. With an overall size of 1 lakh crore, the program is one of the largest PPP program undertaken in the country. The program will provide approximately 2,200 acres of prime land to the private developers across top 100 cities of the country. The program is expected to generate a surplus in excess of ₹ 10,000 crore for the Indian Railways.
In the first phase, 23 stations will be bid out including the stations at Chennai Central, Ranchi, Udaipur City, Indore, Yesvantpur, Bangalore Cantt., Visakhapatnam, Howrah, Kamakhya, Faridabad, Jammu Tawi, Secunderabad, Vijayawada, Kozhikode and Bhopal.
Railways will provide approximately 140 acres of encroachment free land at these stations to the developers on a 45 year lease. Indian Railways has also appointed nodal officers in each zone to ensure smooth interactions with the developers.
The phase is expected to be of approximately ₹ 6000 -9,000 crore in costs.
The redeveloped stations will improve passenger experience by providing amenities like digital signage, escalators / elevators, self ticketing counters, executive lounges, luggage screening machines, walkways, holding areas for passengers, grand and distinctive roofing and flooring, free and paid Wi-Fi etc.
The program will benefit more than 100 cities and 16 million passengers per day across the country. Moreover, the commercial development undertaken near the stations will become nerve centers of the city and provide quality retail, commercial and hospitality development, said the Railways.
Musafir Namah Bureau