Chhatrapati Shivaji Maharaj Terminus Redevelopment

The pre-bid meeting for the CSMT redevelopment project received huge response from industry, developers and fund houses.

The digital meeting was attended by about 43 bidders, including developers Adani Group, Tata Projects, Eldeco, GMR Group, JKB Infrastructure, SNCF Hubs & Connexions, I Squared Capital, Kalpataru Power Transmission, Ace Urban developers, GR Infrastructure, Essel Group, Larsen & Toubro; architects BDP Singapore, Hafeez Contractor, AECOM; fund houses Anchorage Infrastructure Investment Holdings, Brookfield; and consultancy firms JLL, Boston Consultancy Group, KPMG, PwC India, EY; and the British High Commission.

According to a railway ministry statement, the Rs.1,642-crore redevelopment project encapsulates integration of various modes to make the iconic railway station a multi-modal transport hub.

The total real estate built-up area is 25 lakh square feet and the construction period is four years, it said.

The redevelopment plan for the station, a Unesco World Heritage site, will include segregation of arrival and departure, divyang friendly station, better level of services for passengers, energy efficient facilities and restoring the heritage site as per its 1930 levels.

The station will function like a city centre rail mall where, in addition to a passenger’s transportation needs, their daily needs like retail, food and beverage, entertainment, souvenir shopping would also be fulfilled. The aim is that most of their daily needs are catered to by visiting the railway station, thus avoiding unnecessary travel within the city.

The Request for Qualification for the redevelopment on public-private partnership mode has been invited by Indian Railway Stations Development Corporation Limited.

During the pre-bid meeting, it was highlighted that at the RFQ stage the applicants would need to fulfil only the financial criteria, and the technical eligibility criteria have been dispensed with.

As per the tender documents, IRSDC will be a single-window for approval of the master plan and building plans in consultation with local authorities in terms of power conferred under Section 11 of Railway Act, 1989. Alternate Investment Fund or Foreign Investment Fund are also eligible to participate. No change in land use is required and no prior environmental clearance is required from the Ministry of Environment and Forest.

The selected bidder at the RFP stage will take up the redevelopment of the railway station and commercial development of the surrounding land on leasehold basis for 60 years for commercial development and up to 99 years for residential development on selected plots, along with operation and maintenance of the station for 60 years on concession basis.

“During the meeting, most of the participants sought clarification on user charges, eligibility criteria, commercial utilisation of space and various other issues,” an official said.

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