NBCC launches redevelopment of ₹360-cr Lucknow station

The redevelopment of the Gomti Nagar Railway Station is being built in a joint venture between NBCC and the Railway Land Development Authority (RLDA) on EPC model in Lucknow at an investment of ₹360 crore. It is expected to be completed by December 2022. Ved Parkash Dudeja, Vice Chairman of RLDA informed that the station redevelopment has two phases - mandatory station development and commercial development with a total construction cost of ₹190 crore and ₹170 crore, respectively and about 10% of the commercial space has already been booked by retail players. Currently, 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% above the reserve price. RLDA is glad by the overwhelming response garnered in the Gomti Nagar project. The redeveloped station will enhance the travel experience, boost tourism and real estate and have a multiplier effect on the local economy.