NBCC to raise Rs 360 crore from auction of commercial space around Lucknow’s Gomti Nagar railway station

Rail Land Development Authority (RLDA), the statutory body under the Ministry of Railways, for the development of railway land, is undertaking the redevelopment of Gomti Nagar railway station in Lucknow in partnership with the government’s construction arm NBCC (India) Ltd, which is expected to raise Rs 360 crore from the proposed auction of 453,000 sq ft of commercial space.

The RERA registration for the project is complete and the design has been approved by IIT Delhi, sources said.

The total construction cost estimated for station development is Rs 190 crore and Rs 170 crore for commercial development including two years’ maintenance, they said.

The project also offers residential development of 8.5 acres which will be leased by RLDA, they said.

Rail Land Development Authority (RLDA), in partnership with NBCC, is undertaking the redevelopment of the Gomti Nagar railway station in Lucknow on the engineering, procurement and construction mode, sources said.

The station redevelopment involves two phases - mandatory station development comprising station buildings, air concourse, food courts, renovation of platforms and utilities and commercial development, including retail, basement parking and external development.

The redeveloped station will be equipped with amenities such as segregation of arrival and departure, basement parking, CCTV surveillance, centrally air-conditioned common spaces, an integrated building management system, treated water for horticulture use, and much more.

“Gomti Nagar area in Lucknow is developing rapidly as a commercial and retail hub. The station is strategically located with excellent connectivity to other parts of the city. The commercial space being constructed for lease sale of 60 years is in the close vicinity of Hyatt Hotel and new DLF shopping cum office plaza,” said Ved Parkash Dudeja, vice chairman, RLDA.

The aim of the Gomti Nagar railway station redevelopment project is to equip it with state-of-the-art amenities to offer convenience to commuters besides upgrading it in line with global standards and to offer commercial space for boosting economic activities in the area. The re-development will boost real estate as well as the local economy, he added.

Gomti Nagar railway terminus (GTNR) is an under-construction railway terminus on Barabanki-Lucknow Suburban Railway in Lucknow, Uttar Pradesh. It serves the Gomti Nagar, Indira Nagar, Chinhat, Kamta areas of Lucknow city. The station has three platforms currently, with three more platforms under construction.

The railways has approximately 38 acres of  land parcel at the Gomti Nagar Railway Station, of which 8 acres of the land is being utilised for both station re-development and retail and commercial development. The property has frontage on Gomti Nagar Main Road, which further connects Shaheed Path and Pandera.

On the other side, a second new railway station terminal building is being developed as a part of the project. The station has residential colonies and Deen Dayal Park in the vicinity. It also abuts Kisan Bazar on the eastern periphery.

Presently two commercial towers, Block R1 and Block R2 having a combined built-up area of 4,53,000 sq ft have been offered by NBCC as part of commercial development. This will comprise retail outlets, parking among other things. The average lease price is pegged at Rs 6,625 per sq ft for Block R1 and Rs 5,900 per sq ft for Block R2.

The e-auction for commercial blocks is currently underway with the bidding having closed on November 23.

RLDA is currently working on 62 stations in a phased manner while its subsidiary, IRSDC has taken up another 61 stations. In the first phase, RLDA has prioritised prominent stations like New Delhi, Gomti Nagar, Tirupati, Dehradun, Nellore, and Puducherry for redevelopment. The railway stations across India will be redeveloped on a PPP Model as a part of Smart City Projects launched by the Government of India.

RLDA has four key mandates as a part of its development plan, namely leasing of commercial sites, colony redevelopment, station redevelopment and multi-functional complexes.

Currently, the Indian Railway has approximately 43,000 hectares of vacant land across India of which RLDA has over 92 commercial (greenfield) sites across India for leasing to the eligible developers after selection through an open and transparent e-bidding process. RLDA is currently also handling 84 railway colony redevelopment projects and has recently leased out a railway colony in Guwahati for redevelopment.