Realty Cos on a Railway Ride

Hyderabad, India (PressExposure) April 19, 2008 -- Real-estate developers like Indiabulls and Unitech are making a beeline for the modernization of the New Delhi Railway Station. That comes after a host of infrastructure companies showed interest in participating in the project.

Airports are getting swankier with Bangalore, Hyderabad and Mumbai airports now boasting of international standards and facilities. Now, railways will not be very far behind to make the change.

Sources said that big infrastructure companies like Reliance Energy, GMR, Mukesh Ambani's Reliance Industries and Gammon Infrastructure are bidding for the Rs 5,000 crore project. Sources also say that companies from Spain, Singapore and Taiwan too have shown interest. Even real-estate developers like DLF, Indiabulls, Emaar MGF and Unitech are joining in to bid for the project.

But why is there this sudden interest of realty players in this project? As a part of the project, Railway Ministry is throwing open 86 hectares of land around the station for private development. Just 2 kilometers away from Connaught Palace, the prime realty space is the candy that's attracting realty companies.

Sources say that until now, about 40 companies have evinced interest in the project. But what is left to be seen is that how many will pass the stringent technical qualification round. A pre-bid conference is being held on April 15 to discuss the technical issues and the revenue model with the companies.

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Press Release Submitted On: April 05, 2008 at 5:59 am
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