Indian Railways
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1 ‘A-1’ & ‘A’ category stations (total about 400 no.) shall be offered to interested parties for redevelopment on ‘as is where is’ basis.
2 Details of ‘A-1’ and ‘A’ category stations shall be uploaded on Railways’ website, along with indicative list of amenities to be provided for their redevelopment, seeking proposals from interested parties.
3 The party, while submitting the proposals, shall have to duly consider the local development control norms as well as the needs of the Railway, including relocation of structures, if any.
4 The Business Plan developed by the party should be such that revenues realized from real estate development are sufficient to at least cover the entire cost of station redevelopment after meeting the full expenditure on real estate development and Maintenance obligations as per agreement.
5 To ensure serious proposals, parties shall be required to furnish Earnest money of adequate amount along with their proposal.
6 The onus of securing statutory approvals shall be on the developer.
7 For the interested party to have proper understanding of Railway’s needs, their interaction with field officials shall be adequately facilitated through a  Standing Group at the divisional level and at the headquarters of Zonal Railways.
8 All proposals received shall be examined for prima-facie feasibility by a Standing ‘Technical Committee’ of Railway. The proposals found prima-facie feasible shall thereafter be examined by a Standing ‘Financial Committee’ of Railway for assessing the prima facie financial viability. These committees, to be nominated by GM, would consist of SAG officers of Railway.
9 All the proposals received shall thereafter be examined by an Independent Committee of eminent experts having domain knowledge, to be nominated by GM.
10 For the proposal prima-facie found feasible & financially viable and selected after examination by committees, the project proponent shall be asked to submit detailed proposal giving due consideration to local development control norms. The proposal shall contain the technical aspects like specifications, BOQ, cost estimates, drawings etc. The proposal shall also contain the financial model and detailed financial aspects like costs, IRR, NPV etc. If required, the project proponent will be called for discussions for normalization of proposal and party may be asked to submit a final proposal. If need be, discussions will also be held with local authorities. If the detailed proposal does not meet railway’s requirements, railway shall reserve the right to reject the proposal
11 The proposal of the proponent shall then be uploaded on Railway’s website, along with tender documents inviting open bids from interested parties, including the proponent
12 The proponent, if not the highest bidder (i.e. offering highest premium to railways), shall be given the chance to match the highest bid, i.e. the proponent gets the “Right Of First Refusal (ROFR)”, failing which the winning bidder shall be awarded the Bid after following the due procedure
13 Zonal Railways to be authorised to approve the proposals including commercial development on railway land.  Vacant railway land not required for immediate operational needs to be leased only, for period upto 45 years