The Rail Land Development Authority (RLDA) and the National Building Construction Corporation (NBCC) have signed an MoU for the implementation of station redevelopment projects for 10 identified stations – Delhi Sarai Rohilla, Lucknow, Gomti Nagar, Kota, Tirupati, Nellore, Ernakulam, Puducherry, Madgaon and Thane New – in partnership with the respective smart city authorities. The authorities will now form a special purpose vehicle (SPV) in the form of a JV company to execute station redevelopment on a self-financing model. While, NBCC will be responsible for preparing the detailed project report (DPR) and business model, the RLDA will assist NBCC in arranging for all the requisite data pertaining to the stations and acquiring the vacant land as per the approved master plan of the stations. The JV of NBCC and the RLDA will further enter into a city support agreement with the respective smart city authorities and local bodies to obtain support relating to the development of approach infrastructure for the project.
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