Rail Land Development Authority (RLDA), 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 (MFCs) 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 M/s Keshari Estates Pvt. Ltd (Cuttack), M/s Janak Holdings (Dehradun and Nanded), M/s Bhagwati Infraestate Pvt. Ltd. (Jhansi) and M/s 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 Rs 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.
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