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RLDA to manage land and commercial properties.
IRCON International Limited (IRCON) will design, construct and market Phase Redevelopment of Delhi Safdarjung Railway Station.
The Phase-I of the project will come up on the Moti Bagh side of the Station by January 2019.
Ministry of Railways has entrusted the work of Phase I redevelopment to IRCON along with Rail Land Development Authority (RLDA) under a memorandum of understanding signed in New Delhi on 3 August 2017.
The Delhi Safdarjung station is to be redeveloped on self-financing model, raising funds through marketing of the commercial built-up area.
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 up to 45 years by RLDA.
Both IRCON and RLDA are part of the Ministry. fii-news.com
