New Delhi, Jan (IANS) At least 35 national and international companies participated in the virtual road show on the redevelopment of the New Delhi Railway Station organised by the Rail Land Development Authority (RLDA).
According to RLDA, the week-long event witnessed the participation of representatives from renowned companies such as Macquarie Group, Ontario Teachers’ Pension Plan, Brookfield, I Squared Capital, Mahindra Group, Mecef International, Infrastructure Asia, among 30-35 others.
RLDA’s Vice Chairman Ved Parkash Dudeja welcomed all the participants and discussed the constitution and role entrusted to RLDA by the Centre. Dudeja also breifed the participants about the project.
Dudeja said, “The redevelopment of the New Delhi Railway Station is our flagship project that will transform Delhi-NCR.”
He said that the project has attracted interest from various stakeholders. “As a responsible organisation, our foremost priority is to engage with them, keep them apprised of various developments and incorporate their views and suggestions into the Project,” he said.
RLDA had organised online roadshows from January 14 to 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.
The RLDA said that the objective of the initiative 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.
It said that it has also developed a walkthrough of the project that will be showcased during the roadshow for an in-depth understanding.
According to RLDA, the New Delhi railway station is strategically located in the heart of Delhi and has proximity to Connaught Place, which is Delhi’s prime commercial hub. The station is also connected to the Indira Gandhi International Airport through the Airport Express Line Metro and to the Delhi NCR via Yellow Line Metro.
It said that 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 US $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 RLDA said.
It further said that the project is currently at request for qualification (RfQ) stage with due date as February 2.
A pre-bid conference was held in the month of September 2020 in which prominent players such as Adani, GMR, JKB Infra, Arabian Construction Company, SNCF, Anchorage, etc. participated.
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. Further, to expedite the approvals and clearances, an apex committee under the chairmanship of Lieutenant Governor of Delhi has been constituted. The project involves development of around 12 lakh sq metres of built up area as a result of higher FSI permitted under the TOD (Transit Oriented Development) Policy.
The project has two distinct components — first station component- the new terminal building, along with amenities, railway offices, railway quarters and ancillary railway works and the second one of station estate, which has retail spaces adjoining the station, commercial office space, hotels and residential space.
The RLDA said that the station will be equipped with new-age amenities such as dome-shaped terminal buildings with 2-Arrival and 2-Departure at concourse level, two Multi-Modal Transport Hubs (MMTH) on each side of the station, 40-floor high-rise twin towers (with hotel/offices and retail at podium) and pedestrian boulevard with high street shopping.
The station is proposed to be a multi-modal hub for transport integration and development. It will become the first project to be undertaken on Transit-Oriented Development (TOD) concept in Delhi-NCR.