MOU for Redevelopment of Safdarjung Railway Station. Ministry of Railway has entrusted RLDA (Rail Land Development Authority) and IRCON International Limited (originally Indian Railway Construction Company Limited) with the redevelopment work of Delhi’s Safdarjung Railway station. Rakesh Goyal, Vice Chairman – RLDA and S. K. Chaudhary, CMD – IRCON signed the Memorandum of Understanding in the presence of Suresh Prabhu, Minister of Railway. IRCON will carry out design, construction and marketing of the project. The move by the government aims to leverage the commercial potential of Safdarjung Railway station. The Phase-I of the project will come up on the Moti Bagh side of the Station and is targeted to be completed by January 2019.

MOU for Redevelopment of Safdarjung Railway Station. The project will be redeveloped on self-financing model, wherein the project finance will be raised through marketing of the commercial built-up area that will be developed on the surplus railway land and the air space. There are plans to allow lease of commercial space up to 45 years but RLDA will continue to hold the title of the land as well as the ownership of the buildings.

RLDA is a statutory authority functioning under the Ministry of Railways; while IRCON International Limited is a Public Sector Undertaking operating under the Ministry of Railway.

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