10 railway stations identified for smart redevelopment

Speed Post News Network

New Delhi : Ten railway stations have been identified to rollout redevelopment of stations on self-financing basis through land monetisation in synergy with the Smart City Mission of the Ministry of Urban Development.

A Memorandum of Understanding (MoU) was on June 30, 2017, signed for smart redevelopment of Delhi Sarai Rohilla, Lucknow, Gomtinagar, Kota, Tirupati, Nellore, Ernakulam, Puducherry, Madgaon and Thane New Stations. Rail Land Development Authority (RLDA) and NBCC singed the MoU in the presence of Minister of Urban Development  M Venkaiah Naidu and Minister of Railways Suresh Prabhu, according to a PIB release.
Speaking on the occasion, Naidu said redevelopment of Railway stations further enhances the smartness of cities by addressing congestion and sanitation at stations visited by a large number of people. He said the Prime Minister desired both the Ministries to work in tandem to enhance the smartness of cities, according to the release.
Prabhu noted that smart redevelopment of stations would substantially enhance the passenger experience. He asked Railway Board and NBCC to start working on identifying  25 more stations for redevelopment, according to the PIB release. MD, NBCC, A K Mittal assured the two ministers that at least five stations would be redeveloped by 2019.
As per the MoU, a Special Purpose Vehicle (SPV)  will be formed at the national level as a Joint Venture between RLDA and NBCC on 50 : 50 share holding basis. The SPV in turn will enter into City Support Agreements with respective cities. The redevelopment of stations and commercial development on Railway land will be done in alignment with the Smart City Plans of respective cities.
RLDA will lease out the land to the SPV at a nominal token cost for development for a fixed lease period of up to 45 years and NBCC will execute the project work on behalf of the SPV as Project Management Consultant. The upkeep and maintenance of the stations and the commercial property shall be done by the SPV. Non-fare revenues generated from the Railway station except that from Railway Display Network will be passed on to SPV to meet expenditure on redeveloped stations.
RLDA will appoint the Chairman of the SPV while NBCC will select the Chief Executive Officer