The Rail Land Development Authority (RLDA) will complete the redevelopment of Gomti Nagar railway station in Lucknow, Uttar Pradesh, by December 2022.
The station redevelopment has two phases; firstly, mandatory station development and secondly, commercial development with a total construction cost of Rs 190 crore and Rs 170 crore. Around 10 percent of the commercial space has already been booked by retail players.
At present, out of two commercial towers – Block R1 and Block R2 as a single unit with a combined built-up area of 4,53,000 sq ft are being auctioned with some units having been already sold 15-20 percent above the reserve price.
The station is being jointly redeveloped by RLDA in partnership with NBCC on engineering, procurement and construction (EPC) mode.
The Railways has around 38 acre of the land at Gomti Nagar railway station, out of which eight acre is being utilised for both station redevelopment and retail and commercial development. The average lease price is pegged at Rs 6,625 per sq ft for Block R1 and Rs 5,900 per sq ft for Block R2.
The proposed commercial development of the railway station will be leased for 60 years and is located in the vicinity of luxury apartments, high-end commercial spaces and a five-star hotel.
Gomti Nagar Railway Terminus (GTNR) is under-construction and situated on Barabanki-Lucknow Suburban Railway in Lucknow.
RLDA is in advanced stages of bidding out an additional 5.5 acre of land earmarked for residential development on 99-year lease period. The residential development will introduce Walk-to-Work concept.