In order to make the deal commercially viable for real estate developers, the Indian Railways has decided to change contract conditions which would again need to be duly approved by the cabinet. The railways had offered 403 major stations for redevelopment on a public-private partnership (PPP) basis with a revenue-sharing model as part of its non-fare revenue scheme. The ambitious station redevelopment programme was launched with a finalised PPP model approved by the cabinet after prolonged discussions with stakeholders. However, not satisfied with the end results and slow progress, the govt has decided to change the terms and conditions of the contracts again to make it more market-friendly. The Indian Railway Stations Development Corporation Limited, which has been entrusted with the job would roll back the tenders already floated for the redevelopment of 23 stations. However, the redevelopment of Habibganj station in Bhopal will go ahead because the contract has already been awarded for it.
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