IRSDC has recently invited Request for Proposal (RFP) for mixed use development on land parcel at Indian Railways' Anand Vihar Terminal and Bijwasan railway stations in Delhi.
Indian Railways passengers, get ready for swanky airport-like hubs! With the intent of providing world-class passenger amenities at stations, the Indian Railway Stations Development Corporation (IRSDC) under the Railway Ministry, has recently invited Request for Proposal (RFP) for mixed use development on land parcel at Indian Railways’ Anand Vihar Terminal and Bijwasan railway stations in Delhi. The RFP has been invited on lease hold rights basis. An RFP has also been invited for the redevelopment works at Chandigarh railway station. According to IRSDC, the due date of the application has been extended up to 24 August 2020. IRSDC is transforming many railway stations into world-class hubs and these redeveloped 24X7 hubs will be called ‘Railopolis’.
The station development tenders at these three stations have already been awarded on EPC mode and at present, the development work is in progress. Now, from interested entities, the corporation invites bids for mixed use development of land parcels on lease hold rights basis for up to a period of 99 years. In view of prevailing circumstances, the due date for the application for RFPs of the three station redevelopment projects has been extended by two months on demand from the prospective bidders, and now, the application can be submitted on or before 24 August 2020.
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According to IRSDC, in the Chandigarh project, the land area and BUA, has been reduced to almost half for Phase 1. This has been done on request from the prospective bidders and the rest of the BUA will be developed in Phase 2. For Phase 2 of the project, the Lessee shall have the right of first refusal, provided that:
(i) NIT is issued by the authority for Phase 2 of the project within 5 years from the appointed date of Phase 1
(ii) The Lessee takes part in the bidding process for the project’s Phase 2
(iii) The Lessee’s financial bid is within 10 per cent of the highest bid of Phase 2. In that case, there will be an opportunity for the Lessee to match the highest bid of Phase 2.