Mumbai’s Chhatrapati Shivaji Maharaj Terminus (CSMT) of Indian Railways to undergo massive redevelopment! Amitabh Kant-chaired Empowered Group of Secretaries has taken the decision to clear the decks for the redevelopment scheme of the Chhatrapati Shivaji Maharaj Terminus, according to an IE report. Also, a plan is currently being formulated to get the redevelopment project approved by the government’s Public Private Partnership (PPP) Appraisal Committee. While making the station, the world’s only UNESCO World Heritage Site station, Indian Railways plans to accommodate a modern makeover while keeping its heritage value undisturbed.
According to officials, the idea is to take up the CSMT redevelopment project in the next phase of India’s station modernization plan. The plan includes an airport-like makeover of the station, including a user development fee. S K Lohia, Managing Director of India Railway Station Development Corporation (IRSDC) was quoted in the report saying that the scope and extent of the charges will be informed by the Railway Ministry. According to him, the charges could be linked to the wholesale price index. Also, user development fee will be weaved into the business model of the private developer, instead of relying only on land monetization in order to fund the exercise, Lohia added.
According to officials, passengers would be charged the fee on boarding and alighting at these railway stations. They also claimed that care will be taken to keep it at a level that suits the profile of the railway passenger, which is different from the user profile at airports. The idea behind this is to set the ball rolling on the redevelopment of 50 selected railway stations through private participation by the month of October, next year.
It has been informed that under this renewed PPP model, the national transporter hopes to not spend any money. Instead, Indian Railways will get revenue share in the form of the licence fee as well as income from monetization of station premises, the report stated.
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Source: Financial Express