Rail Land Development Authority has signed a memorandum of understanding (MoU) with government owned infrastructure firm NBCC to redevelop 10 railway stations across India with airport-like amenities by year 2020.
More Information about redevelopment of 10 Railway Stations:
10 railway stations which would be redeveloped as per this MoU are Delhi Sarai Rohilla, Lucknow (Uttar Pradesh), Gomti Nagar (Uttar Pradesh), Kota (Rajsthan), Tirupati (Andhra Pradesh), Nellore (Andhra Pradesh), Ernakulam (Kerala), Puducherry, Madgaon (Goa) and Thane (Maharashra).
- The redevelopment of these 10 railway stations will be carried out at an estimated cost of Rs 5000 crore.
- The redevelopment work at these stations will be carried out under a self-financing model through land monetisation, wherein after completion of work, NBCC will be granted rights for commercial usage of land at these stations.
- In the first phase, core infrastructure such as platform, lounges, ticketing counters, parking and other passenger amenities along with separate buildings for arrival and departure terminals on the lines of airports will be built.
- Against this work, NBCC would get commercial usage rights of the land at these stations for 45 years. NBCC can build or lease land to hotels, malls, multiplexes and corporate. It can even use it to build residential projects.
- Union Railway Minister Piyush Goyal has stated that, depending on the success of these projects, the self-financing model through land monetisation would be standardised and implemented for other station development projects as well.
- Indian Railways has plans to carry out redevelopment work at 400 stations across India on a public-private-partnership basis.
- NBCC is a central public sector undertaking, founded in 1960.
- Its headquarters is located in New Delhi.
- AK Mittal is the current Chairman of NBCC.
- Earlier, NBCC had worked on a housing project in Delhi on self-financing model through land monetisation. It is currently undertaking redevelopment of other government-owned colonies in Delhi on similar model.