Godrej Properties, Oberoi Realty may not place final bids for CSTM revamp

The project has long-term lease rights of up to 99 years for residential or mixed use and 60 years for non-residential formats.

Godrej Properties and Oberoi Realty are unlikely to place final round bids for the project to redevelop the 133-year-old Chhatrapati Shivaji Maharaj Terminus, sources said.

Both have been shortlisted by Indian Railway Stations Development Corporation (IRSDC) for the final round, along with seven others, including Adani Railways Transport and GMR Enterprises.

Pirojsha Godrej, chairman, Godrej Properties, refused to comment on the matter, while a mail to Oberoi Realty did not elicit any response. Sources, however, said the companies might have withdrawn as it was a long-drawn project. “It would require significant resources and attention of the companies in the long term and