MoU signed between RLDA and IRCON International for redevelopment of Delhi Safdarjung Railway Station
August 04, 2017: Ministry of Railways has entrusted the work of redevelopment of Delhi Safdarjung Railway Station to IRCON along with Rail Land Development Authority (RLDA) by leveraging the commercial potential of the railway land around the station including RLDA’s office as well as air space above the railway station.
The deal was inked between Rakesh Goyal, vice chairman RLDA and SK Chaudhary, CMD IRCON in presence of Railway Minister Suresh Prabhu. Delhi Safdarjung station is proposed to be developed on self-financing model for which finance will be raised through marketing of the commercial built-up area that will be developed on the surplus railway land and air space as part of the station development project. The land and the constructed buildings will continue to remain under the ownership and control of RLDA and only the commercial built-up area will be leased for upto 45 years by RLDA . IRCON will carry out design, construction and marketing of the project. The Phase-I of the project will come up on the Moti Bagh side of the station and is targeted for completion by January 2019.