RLDA to conduct virtual roadshows on the redevelopment of the New Delhi railway station

New Delhi: The Rail Land Development Authority (RLDA), a statutory body under the Ministry of Railways, is planning to conduct virtual roadshows on the redevelopment of the New Delhi Railway Station (NDLS) project.

These roadshows will be organized online from January 14 to January 19 with investors and developers from various countries like Singapore, Australia, Dubai and Spain, to discuss the project concept and the proposed transaction structure with the potential bidders.

RLDA said that the objective is to engage with relevant stakeholders such as leading international real estate developers, infrastructure players and financial institutions from advanced geographies such as Europe, Australia and South Asia.

RLDA has also developed a walkthrough of the project that will be showcased during the roadshow for an in-depth understanding.

“The redevelopment of New Delhi Railway Station is among our flagship projects that will boost tourism prospects and usher a socio-economic transformation of the region. The project is attracting interest from various stakeholders, and we intend to sustain the momentum through virtual roadshows. The initiative will enlighten them about the various aspects of the project,” said Ved Parkash Dudeja, Vice Chairman, RLDA.

The station has proximity to Connaught Place, Delhi’s prime commercial hub. It is connected to the IGI Airport through the Airport Express Line metro and to the Delhi NCR via Yellow Line metro.

The project would be developed on a Design-Build Finance Operate Transfer (DBFOT) model for a concession period of 60 years.

It is expected to incur the capital expenditure at around USD 680 million. The project offers multiple revenue streams to the developer, including revenue from real estate rights and is slated to be completed in around four years.

The project is currently at Request for Qualification (RfQ) stage with due date as 2nd February 2021. A pre-bid conference was held in the month of September 2020 that witnessed the participation of prominent players such as Adani, GMR, JKB Infra, Arabian Construction Company, SNCF, Anchorage among others.

The Master Plan area is approximately 120 hectares, out of which 88 hectares is being planned in Phase 1 (the Project). RLDA is the approving authority for the Master Plan.

The project involves development of around 12 lakh sqm of built up area as a result of higher FSI permitted under the TOD (Transit Oriented Development) Policy.

The project has two distinct components- station development which include the new terminal building, along with amenities, railway offices, railway quarters and ancillary railway works and station estate, which include retail spaces adjoining the station, commercial office space, hotels and residential space.

RLDA is currently working on redevelopment of 62 stations in a phased manner while its subsidiary, IRSDC has taken up another 61 stations. In the first phase, RLDA has prioritized prominent stations like New Delhi, Tirupati, Dehradun, Nellore, Panipat, Puducherry, Ernakulam for redevelopment. The railway stations across India will be redeveloped on PPP Model.