IRSDC to lease out vacant land parcels as part of Chandigarh Railway Station Redevelopment

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;

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