Value Addition to Railway Assets – PIB
Ministry of Railways
Value Addition to Railway Assets
23 SEP 2020
The vacant land, which is not required by Railways for its immediate operational needs, is utilized in the interim period for commercial development through Rail Land Development Authority (RLDA), wherever feasible, in order to mobilize additional financial resources. Indian Railways has also initiated colony redevelopment programme wherein funds generated from commercial exploitation of unutilized FAR (Floor Area Ratio) shall be used to redevelop old colonies at no cost to Railways. RLDA has been entrusted with 85 land parcels covering an area of 254.33 Hectare for commercial development and 84 colonies in various Zonal Railways for redevelopment.
Further, Station redevelopment is planned by leveraging real estate potential of sparable land and air space in and around the Stations, inviting private participation. It is Railway’s endeavour to generally develop Stations at no cost to Railways. For this, Railway conducts techno-economic feasibility studies of Stations across the country. Based on the outcome of these feasibility studies, Stations are taken up for redevelopment in phases.
This information was given by the Minister of Railways and Commerce & Industry, Shri Piyush Goyal in a written reply to a question in Rajya Sabha today.
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Source: PIB