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State Run Real Estate Company: National Buildings Construction Corporation to revamp 10 stations at INR 5,000 Crore (USD 730 Million)

Posted By RailAnalysis

Post Date: 02/10/2016

Category: Civil Eng & Construction,   Type: Indian Railways

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Boosting ambitious plan of the Railways to redevelop 100 stations into world-class terminals in partnership with corporations , recently got a huge push with the state-run real estate company National Buildings Construction Corporation picking up 10 stations for revamp at an estimated cost of Rs 5,000 crore.

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Further details about the development program :

  1. Monetisation would be done through commercial exploitation of the land that railway provides .

  2. Corporations participating in this initiative in the first phase would redevelop core infrastructure such as platform, lounges, ticketing counters, parking and other passenger amenities, besides building separate arrival and departure terminals on the lines of airports .

  3. Against this, they would get commercial exploitation rights of these stations’ land bank for 45 years.

  4. They can build or lease land to hotels, malls, multiplexes and corporates .

  5. Identified stations are Varanasi, Jaipur, Kota, Sarai Rohilla (Delhi), Thane, Margao (Goa), Bhubaneswar, Lucknow, Tirupati and Puducherry.

  6. NBCC will construct commercial and residential spaces on the station land earmarked for development.

  7. According to a government official, the minimum investment required for redeveloping 10 stations would be Rs 5,000 crore.

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