Bid opening date extended
Indian Railways Station Development Corporation (IRSDC) has made a swift progress in developing Surat Railway Station as Multi-Model Transport Hub.
IRSDC initiates series of steps to make this unique project more attractive and risk free to the developers, said a release on Public Information Bureau on 16 Nov 2018.
The bid opening date has now been extended to 07.12.2018 based on the request of bidders.
What is being done?
A truly seamless multi model transport hub integrating all modes of transport is to be developed at Surat Railway station wherein all the three levels of Government, namely Central Government (Railways), State Government (Gujarat State Road Transport Corporation) and local government (Surat Municipal Corporation) have come together to pool their lands and also form a SPV named SITCO.
This unique initiative is being spearheaded by Indian Railways Station Development Corporation which has been entrusted to implement the task of Railway Station development/redevelopment projects of the Ministry of Railways.
This project once completed, will transform the face of Surat.
Request for Qualification cum Request for Proposal (RFQ cum RFP) for appointment of Developer to take up the development of Multi-Modal Transportation Hub (MMTH) along with Commercial Development on DBFOT-PPP mode was invited on 17 April 2018 so that in addition to the originally qualified developers, new Developers can also participate along with the already qualified Developers.
After interaction with the probable bidders, a number of steps has been taken to make this unique project more attractive and risk free to the developers.
The various steps already taken and incorporated in the bidding document as corrigendum are as under:
Increasing project viability
Increased Built-up Area (BUA) – Proposed Commercial Development BUA increased from 5.07 lakh sq.m. to 8.40 lakh sqm;
BUA definition modified to exclude basement(s) or any upper floor(s) for satisfying the parking/ fire requirements as per local byelaws;
Reduced Mandatory Cost – Estimated Cost of Mandatory project has been reduced from Rs.1,008 crore to Rs.895 crore;
Increased Commercial Retail Area on Ground Level – Commercial Area at Ground level increased from 354,864 sqm to 784,596 sqm considering the local demand at Surat;
Increased Commercial Development on West Side along Ring Road – Commercial Area increased on West side by shifting the proposed Railway Quarters to Udhna.
Flexibility for Planning Explicitly
Flexibility has been given to the developer to modify the Commercial Development Plan without disturbing the arearequirements and intent of Mandatory Project.
Master Plan has been revised to provide more commercial area on ground.
IRSDC being declared the nodal agency by Union Cabinet for Railway Station Redevelopment and given full powers for plan approvals over railway land and no change in land use required.
MoU between Railways, Surat Municipal Corporation (SMC) and Gujarat State Road Transport Corporation (GSRTC)for joint development signed on 17.08.2016.
Regulatory Issues Resolved
Special Development Control Regulations – Government of Gujarat issued notification regarding relaxation in Comprehensive General Development Control Regulations (CGDCR) – 2017 considering MMTH Surat as a Special Project.
FSI of 4 is available as per Transit Oriented Zone (TOZ)without any charges.
Master Plan Approval from Stakeholdershad been done.
Master Plan signed by DRM Office, WR on 12.09.2018.
Master Plan signed by GSRTC on 20.09.2018
Master Plan signed by SMC on 26.09.2018
Same Plan has been issued through Corrigendum – 7 to RFQ cum RFP
Land Entrustment from Stakeholdersis in place.
Railway Land Entrustment confirmed from DRM Office.
Expected to be approved soon from Western Railway Headquarters.
In principle approval for Land Entrustment given by SMC & GSRTC for their respective lands.
Airport Authority of India (AAI) approval has been obtained – maximum permissible height has been relaxed up to 121 mt. AMSL as per NOC.
Environmental Clearance is under process – Application filed on 07.09.2018 and first meeting for TOR of EIA held with State Environment Appraisal Committee (SEAC) on 14.11.2018.
Other Important Relaxations:
Flexibility in Commercial Development – Only 40% of the Commercial Development Project to be completed in 8 Years from Effective Date.
Balance 60% can be completed in 15 years from the Effective Date (extendable by another 5 years without levy of liquidated damages).
Performance guarantee for Commercial Development Project has been reduced from 100% to 40% of Commercial Development Cost.
Milestones of Project Development Fee Instalments payable by the Developer has been realigned to reduce upfront expenditure of Developer.
Interest rate on balance lease premium payable by the Developer has been reduced from 15% p.a. to 12% p.a.
Station Revenue Share payable by the Developer to SITCO has been reduced from 50% to 35%.
Maximum tenure of Sub-License at a time has been increased from 3 years to 9 years. fiinews.com
