Mumbai's iconic Chhatrapati Shivaji Maharaj Terminus (CSMT), a UNESCO World Heritage monument and its surroundings are about to undergo redevelopment.
Restoration and development work will start at the historic structure soon after the Union Cabinet approved the long-overdue redevelopment proposal for Mumbai's landmark railway station on September 28.
The Central Cabinet approved a Rs 10,000 crore proposal to redevelop three major railway stations including Mumbai, Delhi, and Ahmedabad. The total cost of the re-development of 199 stations including these 3 major stations is Rs 60,000 crores.
While the tender for the redevelopment of the railway stations will be out in 10 days, Union Railway Minister Ashwini Vaishnaw said CSMT's heritage building won't be touched but buildings nearby will be re-developed.
The development work of CSMT includes the construction of a spacious roof plaza with all passenger amenities in one place along with spaces for retail, cafeterias, and recreational facilities. Facilities like a food court, waiting for lounge, playing area for children, a place for local products, etc will be available.
The master plan has been prepared for smooth movement of traffic, with adequate parking facilities. There will be integration with other modes of transportation like the metro, bus, etc.
With thousands of passengers using suburban and outstation train services every day, CSMT is one of the busiest railway stations in the country.
The redevelopment of CSMT and its surroundings is crucial for the finances of railways as well as for the passengers and businesses since this represents a sizable share of its asset monetization pipeline for the fiscal year.
Redevelopment plan scrapped after shutdown of nodal agency
The Unesco World Heritage site was supposed to undergo redevelopment last year. But it was sent back to the drawing board following the shutdown of the nodal agency Indian Railway Stations Development Corporation (IRSDC), a joint venture between Rail Land Development Authority (RLDA) and IRCON, two entities owned by the ministry of railways.
Adani Railways, Oberoi Realty, and GMR Highways were among the nine bidders in the now discarded race for the marquee station project.
The railway minister after the plan was scrapped said the station would be developed under the hybrid built-operate-transfer (BOT) mode.
History of CSTM (formerly Victoria Terminus)
The terminal was built over 10 years, starting in 1878, according to a High Victorian Gothic design based on late medieval Italian models. Its remarkable stone dome, turrets, pointed arches and eccentric ground plan are close to traditional Indian palace architecture. It is an outstanding example of the meeting of two cultures, as British architects worked with Indian craftsmen to include Indian architectural tradition and idioms thus forging a new style unique to Bombay.
This building, designed by F W Stevens, is spread across a 2.85-hectare area. This is one of the finest functional Railway Station buildings of the world and is used by lakhs of commuters daily. This property is an outstanding example of Victorian Gothic Architectural Revival in India, blended with the themes derived from Indian Traditional Architecture. Its remarkable stone dome, turrets, pointed arches and eccentric ground plan are close to traditional Indian palace architecture. This was the first terminus station in the subcontinent. It became a commercial palace representing the economic wealth of the nation.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
