Real Estate

Real Estate Transactions

Railways to rope in realtors to redevelop Mumbai's Dadar, Andheri, Bandra junctions

Economic Times  

Indian Railway Stations Development Corporation Ltd. (IRSDC), the nodal agency for station redevelopment in the country, is set to rope in realty developers to redevelop multiple railway junctions in and around Mumbai including Andheri, Dadar, Kalyan, Bandra, Borivali and Thane. The project cost for the first phase of this redevelopment is estimated to be INR 218 crore that will be borne by the selected realty developer. The authority is looking to redevelop Andheri railway station through the Design, Build, Finance, Operate and Transfer (DBFOT) model. The Andheri project will be a mixed-use development with 60 years lease to be offered to the selected developer.