Mumbai: Railways to Hire Realtors to Redevelop CST, Other Big Stations

The Indian Railways will rope in realty firms to redevelop multiple railway junctions in and around Mumbai, including Andheri, Dadar, Kalyan, Bandra, Borivali and Thane.

The Indian Railway Stations Development Corporation, the nodal agency for station redevelopment in the country, has already shortlisted nine bidders for the proposed redevelopment of the iconic Chhatrapati Shivaji Maharaj Terminus Railway Station in South Mumbai. It is now seeking to redevelop Andheri station in Mumbai in phases.

The project cost for the first phase is estimated at ₹218 crore, and it will be borne by the selected realty developer. The request for qualification for the first phase redevelopment of the Andheri railway station will be issued soon after required approvals are given.

The Western Railways gave in-principle approval for the Andheri project’s master plan along with floor plans on May 21.

“In addition to Andheri, IRSDC will be redeveloping Dadar, Kalyan, Thakurli, Bandra, CSMT, Thane and Borivali stations in Mumbai. The work across these projects is in different stages and is expected to be completed within the stipulated time frame,” said SK Lohia, managing director and chief executive, IRSDC.

“The redevelopment of these stations will boost realty prospects and usher in a socio-economic transformation,” Lohia added. The Andheri project will be a mixed-use development offering a 60-year lease to the selected developer.

The authority is looking to redevelop Andheri railway station through the design, build, finance, operate and transfer model. The overall area of redevelopment at Andheri railway station is 4.31 acres, of which 2.1 acres will be redeveloped in the first phase, and the rest in the second phase.

One of the busiest stations on the Western Railway network, Andheri serves two major railway lines including the harbour line that runs from Chhatrapati Shivaji Terminus to Panvel, and the western line connecting Churchgate and Dahanu.

The Versova-Andheri-Ghatkopar metro line station is also situated next to the station on the east side.

No comments: