Railways to delink core New Delhi station redevelopment from real estate | India News

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NEW DELHI: The Indian Railways has rejigged the redevelopment plan of New Delhi station by withholding the commercial development part from the core station development. The commercial development involving real estate would be taken up in the second phase while the station infrastructure including upgradation of passenger amenities, parking lots and core areas of the station building would be undertaken in the first phase, sources said.
They also said the railways would take up the redevelopment on a hybrid Build Operate and Transfer (BOT) model where the national transporter will pay 40% of the project cost during construction. The private player will have to invest the remaining 60% and the railways will pay back this amount in installments spread over 26 years. The National Highways Authority of India (NHAI) has adopted this model of NH development known as Hybrid Annuity Model (HAM).
Sources said the Rail Land Development Authority (RLDA) made a detailed presentation before Union railway minister Ashwini Vaishnaw on Friday. Since the railways will pay back the entire investment in installments and thereby minimizing the risk of private investors, the proposed user fee to be charged from passengers will come to the national transporter.
According to the plan, a double dome architecture structure of 450 meter long and 80 meter height would come up over the station. The total cost is estimated around Rs 4470 crore. There would be 25 floors high twin domes, which would be known as Infinity Towers, would cover all the 16 platforms of the station.





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