Rail Land Development Authority a statutory authority established by Ministry of Railways for generating non-tariff revenue from railway land, today announced appointment of private developers for development of Multi Functional Complexes at five stations namely, Cuttack, Dehradun, Jhansi, Katra and Nanded. This is the first time that MFCs are being developed through private investment. Indian Railways operates more than 7000 stations across the country.
RLDA had appointed Knight Frank India as marketing consultant for the first six MFCs to be developed through private parties. Out of the six MFCs, five MFCs were awarded to Keshari Estates Pvt Ltd (Cuttack), Janak Holdings (Dehradun and Nanded), Bhagwati Infraestate Pvt Ltd and MGC Estates (Katra).
RLDA did not accept the bid for Ujjain being below expectation due to certain existing constraints in the approach road to the site. A total of 15 bidders submitted 28 financial bids. The total present value of the Lease Premium and Annual Lease Rent received for 5 stations in response to the open competitive bidding is INR 27.61 crore which is much higher than the pre bid expectations. Ujjain MFC will be put to re-bidding after getting the constraints removed.
With the tremendous success of the pilot project of bidding for 5 MFCs, RLDA plans to invite bids for 86 more MFCs at railway stations across India very soon and all these MFCs are targeted to be awarded this year. Several important sites for commercial development of surplus railway land at Bandra, 3.3 hectare at Aurangabad, Jamnagar, and at Chennai, are also expected to be awarded this year by RLDA.
Multi Functional Complexe is a win win model for Indian Railways, rail users and developers. Indian Railways get passenger facilities developed at no cost to Government and further gets additional present and future revenues, rail users get better facilities in the shortest period of time and developers get assured market and opportunity for developing such project at large number of railway stations across India.
Indian Railways have introduced the concept of MFC at Railway stations beginning year 2009-10 for developing facilities for rail users at one centralized complex. This is to improve and upgrade the existing amenities for the rail users in cities having tourist and religious importance by way of developing the land/air space at railway stations. MFCs will be developed to provide rail users with facilities such as shopping, food stalls/ restaurants, book stalls, ATMs, medicines and variety stores, budget hotels, parking etc. In the first phase of the project announced in year 2009-10 development of 48 MFCs were started by RLDA jointly with three railway PSUs- IRCON, RITES and RVNL whereas six MFCs at Cuttack, Dehradun, Jhansi, Katra, Nanded and Ujjain were proposed to be developed through private parties. 86 MFCs will be developed by RLDA across the country through private parties as part of the second phase of the MFC project announced in the Railway Budget in year 2010-11. Bidding for the second phase is to be initiated shortly.
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RLDA had appointed Knight Frank India as marketing consultant for the first six MFCs to be developed through private parties. Out of the six MFCs, five MFCs were awarded to Keshari Estates Pvt Ltd (Cuttack), Janak Holdings (Dehradun and Nanded), Bhagwati Infraestate Pvt Ltd and MGC Estates (Katra).
RLDA did not accept the bid for Ujjain being below expectation due to certain existing constraints in the approach road to the site. A total of 15 bidders submitted 28 financial bids. The total present value of the Lease Premium and Annual Lease Rent received for 5 stations in response to the open competitive bidding is INR 27.61 crore which is much higher than the pre bid expectations. Ujjain MFC will be put to re-bidding after getting the constraints removed.
With the tremendous success of the pilot project of bidding for 5 MFCs, RLDA plans to invite bids for 86 more MFCs at railway stations across India very soon and all these MFCs are targeted to be awarded this year. Several important sites for commercial development of surplus railway land at Bandra, 3.3 hectare at Aurangabad, Jamnagar, and at Chennai, are also expected to be awarded this year by RLDA.
Multi Functional Complexe is a win win model for Indian Railways, rail users and developers. Indian Railways get passenger facilities developed at no cost to Government and further gets additional present and future revenues, rail users get better facilities in the shortest period of time and developers get assured market and opportunity for developing such project at large number of railway stations across India.
Indian Railways have introduced the concept of MFC at Railway stations beginning year 2009-10 for developing facilities for rail users at one centralized complex. This is to improve and upgrade the existing amenities for the rail users in cities having tourist and religious importance by way of developing the land/air space at railway stations. MFCs will be developed to provide rail users with facilities such as shopping, food stalls/ restaurants, book stalls, ATMs, medicines and variety stores, budget hotels, parking etc. In the first phase of the project announced in year 2009-10 development of 48 MFCs were started by RLDA jointly with three railway PSUs- IRCON, RITES and RVNL whereas six MFCs at Cuttack, Dehradun, Jhansi, Katra, Nanded and Ujjain were proposed to be developed through private parties. 86 MFCs will be developed by RLDA across the country through private parties as part of the second phase of the MFC project announced in the Railway Budget in year 2010-11. Bidding for the second phase is to be initiated shortly.
http://www.steelguru.com
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