NEW DELHI: The Delhi Development Authority (DDA), the land-owning agency under the central government, has set sights on raising revenue from the proposed redevelopment of two railway stations in the national capital — at Anand Vihar and Bijwasan.
The two stations are built over a part of land allotted by the authority to the Indian railways. “The DDA and Railways have agreed on commercial development of this land on the basis of a revenue-sharing model. This will also pave the way for infrastructure development in the city,” said an official of the DDA.
The authority has signed a Memorandum of Understanding with (MoU) Rail Land Development Authority (RLDA) for redevelopment of both stations for commercial use for generating revenue.
As per the MoU, railways will be free to utilise DDA’s land for any development, including commercial and residential, as per the provisions of the Railway Act, the official said, adding change of land use pattern won’t be required.
“Gross revenues from the commercial development of land for these projects would be shared in the ratio agreed upon by both agencies. Two-thirds of the revenues generated will go to the Railways and the DDA will get a third of the share. There will be no further payment to DDA by the Railways for land use conversion charges like ground rent, etc,” the official said.
At Anand Vihar, it will be Transit-oriented development (TOD) like Karkardooma to maximise revenue realisation.
“The estimated cost for development of Anand Vihar and Bijwasan terminals would be Rs 313 crore and Rs 761 crore respectively,” he said.