Seven builders interested in developing land parcels at Chandigarh railway station: IRSDC – ET RealEstate

Seven developers have shown interest in developing land parcels as part of Chandigarh Railway Station Redevelopment, according to the Indian Railway Stations Development Corporation Ltd. (IRSDC).

The pre bid meeting on Friday received response from Eldeco, Developer Group, Virtuous Retail South Asia, Kalpataru Power Transmission Ltd and Omaxe Ltd among others.

IRSDC had recently invited Request for Proposal (RFP) for leasing vacant land parcels for mixed-use development as the part of Chandigarh Railway Station redevelopment project.

Accordingly, bids were invited from interested entities for mixed use development of land parcels on lease rights basis upto 99 years.

Four land parcels- SP4 (12,427 sq. m), SP5(15,027 sq. m), SP6(17,890 sq. m.) and SP7(11,347 sq. m.) span across 56,691 sqm. of land, with a total allowable Built-Up Area (BUA) of 2,32,341 sqm are on offer for development.

Chandigarh Railway Station will be developed into a world class transport hub to offer a superior travel experience to passengers. We conducted the pre bid meeting today for leasing the vacant land parcels which are part of the Chandigarh railway station redevelopment and are suitable for a mixed-use development that will accentuate real estate prospects in the vicinity. We have received a positive response from real estate developers for these land parcels,” said SK Lohia, Managing Director and Chief Executive Officer, IRSDC.

Redevelopment of railway stations across India is a priority program of the Ministry of Railways, Government of India. This agenda is being driven with full force by the Government with the participation of private players as a part of PPP projects.

As part of this agenda, work on redevelopment of 123 stations is in progress. Out of this, IRSDC is working on 61 stations and RLDA is working on 62 stations. As per current estimates, total investment needed for redevelopment of 123 stations along with real estate development is about Rs 50,000 crore.

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