<p class="title">The Centre on Wednesday approved railway station development plan, which allows the national transporter to take up commercial development of land and air space in and around stations.</p>.<p class="bodytext">The Indian Railway Stations Development Corporation (IRSDC) will be the nodal agency, which will leverage the commercial development of land and air space in and around the stations.</p>.<p class="bodytext">"This will help provide state-of-the-art amenities for passengers, generate additional revenues and will be overall at least cost neutral to the railways over a basket of stations," a statement said.</p>.<p class="bodytext">The Cabinet chaired by Prime Minister Narendra Modi also gave nod to increase the lease period to 99 years from 45 years. The railways plan to invest Rs 1 lakh crore on developing 600 stations.</p>.<p class="bodytext">IRSDC will prepare the overall strategic plan and business plans for individual or a group of stations ensuring cost neutrality.</p>.<p class="bodytext">"This would enable railways to accelerate the redevelopment of major stations across the country on an overall cost-neutral basis. These redevelopment efforts will lead to the creation of state-of-the-art smart stations that will function as mini smart cities," it said.</p>
<p class="title">The Centre on Wednesday approved railway station development plan, which allows the national transporter to take up commercial development of land and air space in and around stations.</p>.<p class="bodytext">The Indian Railway Stations Development Corporation (IRSDC) will be the nodal agency, which will leverage the commercial development of land and air space in and around the stations.</p>.<p class="bodytext">"This will help provide state-of-the-art amenities for passengers, generate additional revenues and will be overall at least cost neutral to the railways over a basket of stations," a statement said.</p>.<p class="bodytext">The Cabinet chaired by Prime Minister Narendra Modi also gave nod to increase the lease period to 99 years from 45 years. The railways plan to invest Rs 1 lakh crore on developing 600 stations.</p>.<p class="bodytext">IRSDC will prepare the overall strategic plan and business plans for individual or a group of stations ensuring cost neutrality.</p>.<p class="bodytext">"This would enable railways to accelerate the redevelopment of major stations across the country on an overall cost-neutral basis. These redevelopment efforts will lead to the creation of state-of-the-art smart stations that will function as mini smart cities," it said.</p>
