The much awaited redevelopment of Mumbai’s Chhattrapati Shivaji Maharaj Terminus (CSMT) has been initiated with the Indian Railway Stations Development Corporation (IRSDC) inviting Request For Qualification for the purpose through the public private partnership model.
While commercial space of 2.5 lakh sq m is set to be generated after the revamp, the station will be in the hands of the developer for 60 years.
The Rs 1,642-crore project will be handed over to a private bidder, who will have to fund and undertake the development. The developer will be allowed to recover his investment through the commercial development of the surrounding railway land for a period of 60 years.
The IRSDC, the nodal agency for the project, had recently received a green nod from the Railway Board for the redevelopment of CSMT. Following this, it had on August 20 invited the Request For Qualification.
The IRSDC, in coordination with Central Railway, had last November finalised a master plan to redevelop CSMT into a world-class station while restoring its heritage charm.
The revamped station will have new commercial spaces developed — including malls, shops and eateries — which will be monetised by the operator. In the newly-created commercial spaces, new restaurants, coffee shops and commercials shops will come up. As per the plan, around 10 restaurants will come up on CSMT premises.
The plans also envisage demolishing some existing buildings in the CSMT premises and shifting some railway offices to Byculla and Wadi Bunder yards to create more pedestrian area on the southern end of the station. The divisional general office of CSMT will also be shifted to Byculla.
Further, the Harbour line, which connects south Mumbai with western suburbs and Navi Mumbai, will be shifted to the P D’mello Road side on east of the main line station on an elevated level, officials said.
“The selected bidder shall take up redevelopment of the station and commercial development of the surrounding railway land on leasehold basis – up to 60 years for commercial development and up to 99 years for residential development on selected plots, along with operation and maintenance of the station for 60 years on concession basis,” the ISRDC said.
MD of IRSDC, S K Lohia, said the station will also have an access control system and passengers will have to pay a user fee, which the railway board will decide.
Under the existing two-stage bidding process, those who qualify as per the tendering rules will then be asked to participate in the final bidding process.
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