Railways is considering a proposal to rope in private developers to redevelop its residential colonies spread across Mumbai. It is estimated that at least 240 acres of Railways land will be thrown open to redevelopment in Mumbai.
The Western Railway has 15 staff colonies in Mumbai Metropolitan Region (MMR) and the Central Railway has 68. The idea, sources in the railways say, is to raise Rs 50,000 crore needed for an array of projects in Mumbai, including the CST-Panvel elevated corridor, new AC trains, fifth and sixth lines between Borivali and Virar, and third and fourth lines between Kalyan and Badlapur.
However, urban planners and environmentalists have warned the Railways saying that the proposed moved would worsen congestion in the city.
It may be recalled here that earlier in the year Railways had announced that residential complexes would be allowed around railway stations as part of the Railways ambitious station redevelopment programme. According to Indian Railway Stations Development Corporation Limited (IRSDC), the Railway Board has allowed residential development along with commercial development as part of the redevelopment scheme of railway stations to make such projects further viable commercially. IRSDC is a Railways joint venture company.