IRSDC to lease out vacant land parcels as part of Chandigarh Railway Station Redevelopment
Request for Proposal (RFP) issued for leasing vacant land parcels for mixed-use development
The Voice of Chandigarh News –Indian Railway Stations Development Corporation Ltd. (IRSDC) has invited Request for Proposal (RFP) for leasing vacant land parcels for mixed-use development as part of the Chandigarh Railway Station redevelopment project. Accordingly, Bids have been invited from interested entities for mixed-use development of land parcels on a lease rights basis up to 99 years. RFP document is available at https://www.etenders.gov.in/eprocure/app
Four land parcels- SP4 (12,427 sq. m), SP5(15,027 sq. m), SP6(17,890 sq. m.) and SP7(11,347 sq. m.) span across 56,691 sqm. of land, with a total allowable Built-Up Area(BUA) of 2,32,341 sqm. Bidders can bid for all the four land parcels or can also bid for individual land parcel, as per their choice. The pre-bid meeting will be held on 12th March 2021, and the deadline for bid submission is 16th April 2021.
“Chandigarh Railway Station will be developed into a world class transport hub to offer a superior travel experience to passengers. These vacant land parcels which are part of the Chandigarh railway station redevelopment are suitable for a mixed-use development that will accentuate real estate prospects in the vicinity. The redevelopment will also boost tourism, generate employment and have a cascading impact on the local economy,” said Sh. S.K. Lohia, Managing Director and Chief Executive Officer, IRSDC.
Salient features of the project are:
✔ Union Cabinet approval has been obtained which enables;
● Long Term lease-rights of upto 99 years for real estate;
● No Change in Land use is required Pan India for railway station redevelopment;
● IRSDC shall approve its master plan in consultation with local authorities in terms of power conferred under Section 11 of Railway Act, 1989; and.
● The Lessee is allowed to enter into multiple sub leases of built up area.
✔ Highest Lease Premium shall be the Bid parameter which shall be payable in multiple instalments; and
✔ Alternate Investment Funds (AIF) or Foreign Investment Fund are also eligible to participate.
Model Agreements for Station redevelopment and Station Facility Management;
Updation of Manual for Standards and Specifications for Railway Stations; brought out by MoR;
Handbook for Master planning & Value Creation for Railway Station (Re)development;
Harmonized Guidelines for Standards of Accessibility & Provisions of Facilities for Persons with Disabilities (Divyangjan) in Indian Railways – by MoR
Form based codes for Commercial Development within Railway Land, comprising of:-
5.1. Codes for Station Area Layout Regulating Plans;
5.2. Codes for Property Development Cards (Commercial Development);
5.3. Codes for Architectural Design within Commercial Development;
5.4. Codes for Green Buildings within Commercial Development;
Handbook for Preparation of Layout Regulating Plans and Property Development Cards;