Delhi station's redevelopment plan to make 2.5 million sq ft commercial space available

NEW DELHI: The iconic Connaught Place in Delhi will soon have 2.5 million sq ft of new commercial real estate, courtesy the Indian Railways, reports Faizan Haidar. The Rail Land Development Authority (RLDA) plans to redevelop the New Delhi Railway Station, which will free up the sprawling piece of land in the middle of India’s most expensive commercial hub.

RLDA, under the railways ministry, is the statutory authority for development of vacant railway land for commercial use.



The entire area which will be developed is around 8 million sq ft, of which the selected developer will be allowed to exploit 2.5 million sq ft for commercial purpose,” said Ved Parkash Dudeja, vice chairman of RLDA.

“The project will be funded through money generated by commercial development.”

RLDA expects a total investment of Rs 7,000 crore, of which Rs 4,500 crore will be mandatorily spent on the redevelopment of station and offices related with the railway functioning.


Source: https://realty.economictimes.indiatimes.com/news/commercial/delhi-stations-redevelopment-plan-to-make-2-5-million-sq-ft-commercial-space-available/74027147

February 08, 2020

1 view
Mindcept-Logo.png

© MINDCEPT CONSULTING

  • Black LinkedIn Icon

DISCLAIMER: The information contained in this website is offered for illustration purposes only and is general information. We make no representations or warranties of any kind (express or implied) with respect to the information, products, services, statements, figures, calculations, plans, images, logos, related graphics and are purely indicative in nature only. Whilst all reasonable care has been taking in providing all information, however, We or / and our related companies or/ and our representatives, consultants or / and our agents accept no responsibility for its completeness, accuracy, reliability, suitability or availability of any information contained herein for any action taken in reliance thereon by any party. Any reliance on information as contained in this website does not constitute an offer, inducement, representation, warranty or contract and may be relied upon at one’s risk and consequences.