3 min read.Updated: 25 Jan 2021, 02:51 PM ISTTamal Nandi
The New Delhi railway station is strategically located in the heart of Delhi and has proximity to Connaught Place, Delhi’s prime commercial hub
Rail Land Development Authority (RLDA), a statutory body under the Ministry of Railways, conducted the online roadshows on the redevelopment of the New Delhi Railway Station (NDLS)- the first Project to be undertaken on the Transit-Oriented Development (TOD) concept in Delhi-NCR.
The New Delhi railway station will be developed to ensure multi-modal transport integration and development. It is connected to the IGI Airport through the Airport Express Line Metro and with Delhi NCR via Yellow Line of Delhi Metro. DTC bus stops lie on both sides of the Station.
The New Delhi railway station is strategically located in the heart of Delhi and has proximity to Connaught Place, Delhi’s prime commercial hub. It will be redeveloped into a world-class station in line with global standards with Dome-shaped terminal buildings with 2-Arrival and 2-Departure at the concourse level, two Multi-Modal Transport Hubs (MMTH) on its every side, 40-floor high-rise twin towers (with Hotel / Offices and Retail at Podium) and pedestrian boulevard with high- street shopping among the salient features of the proposed development.
Pedestrian movement, cycle tracks, green tracks and non-motorized Vehicle have been integrated into the proposed development plan.
The 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. Mr Ved Parkash Dudeja, Vice Chairman, RLDA welcomed all participants and discussed the constitution and role entrusted to RLDA by the Government of India. Mr. Dudeja also introduced the Project briefly to the participants.
“The redevelopment of the New Delhi Railway Station is our flagship project that will transform Delhi-NCR. The Project has attracted interest from various stakeholders. As a responsible organization, our foremost priority is to engage with them, keep them apprised of various developments and incorporate their views and suggestions into the Project," said Shri Ved Parkash Dudeja, Vice Chairman, RLDA.
A detailed presentation covering the project concept was showcased, including the proposed transaction structure. The highlight of the roadshow was a video walkthrough of the proposed concept. Participants were requested to put forward their views and suggestions on the project concept and the transaction structure. RLDA also conveyed that similar online sessions shall be planned in near future to further discuss and refine the Project with intending players.
The project is currently at Request for Qualification(RFQ) stage with the last date of submission of applications as 2nd February 2021. The road show was preceded by a pre-bid conference held in September 2020 in which prominent players such as Adani Group, GMR, JKB Infra, Arabian Construction Company, SNCF and Anchorage participated and have shown interest in undertaking the prestigious redevelopment project. The project entails a capital expenditure of approximately USD 680 million over a period of four years and offers multiple revenue streams to the developer, including revenue from real estate rights for a period of 60 years.
While RLDA is the approving authority for the Master Plan, an Apex Committee under the chairmanship of Hon'ble Lieutenant Governor of Delhi has been constituted to ensure coordination amongst the various civic agencies involved and expedite the approvals and clearances.
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.
The New Delhi railway station has a master plan area of 120 hectares, out of which 88 hectares is being planned in Phase 1 (of the Project). The project involves the development of around 12 lakh sqm of the built-up area as a higher FSI is permitted under the TOD Policy.
The project will be undertaken on the Design, Build, Finance, Operate and Transfer (DBFOT) model, and would involve redevelopment and management of the station for a 60 year-concession period.