RAILWAYS

Railways plans to hire realty firms to redevelop CST, other big stations in Mumbai

The Indian Railways is planning to bring in realty firms to redevelop multiple railway junctions in and around Mumbai, including Andheri, Dadar, Kalyan, Bandra, Borivali and Thane.

The Indian Railway Stations Development Corporation (IRSDC), the nodal agency for station redevelopment in the country, has already shortlisted nine bidders for the proposed redevelopment of the iconic Chhatrapati Shivaji Maharaj Terminus (CSMT) Railway Station in South Mumbai. It is now seeking to redevelop Andheri station in Mumbai in phases, the Economic Times mentioned in a report.

The project cost for the first phase is estimated at Rs 218 crore, and it will be borne by the selected realty developer. The request for qualification (RFQ) for the first phase redevelopment of the Andheri railway station will be issued soon after required approvals are given.

The Western Railways gave in-principle approval for the Andheri project’s master plan along with floor plans on May 21.

“In addition to Andheri, IRSDC will be redeveloping Dadar, Kalyan, Thakurli, Bandra, CSMT, Thane and Borivali stations in Mumbai. The work across these projects is in different stages and is expected to be completed within the stipulated time frame,” the financial daily quoted SK Lohia, managing director and chief executive, IRSDC as saying.

“The redevelopment of these stations will boost realty prospects and usher in a socio-economic transformation,” Lohia added. The Andheri project will be a mixed-use development offering a 60-year lease to the selected developer.

Source
Times now
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