Prayagraj: Prayagraj Junction is set to emerge as a major commercial hub as part of its ongoing redevelopment project, with the railway authorities preparing to lease a large portion of the newly constructed station building to private investors for 45 years. The redevelopment of the station, carried out at a cost of about Rs 960 crore, is among the largest such projects underway in the country.Under the plan, the Rail Land Development Authority (RLDA) issued an e-tender for seven floors of the newly constructed nine-storey building on the Civil Lines side of the station. The area from the third to the ninth floor, covering around 2,03,665.28 square feet, opened for commercial development. Private investors will be allowed to develop facilities such as malls, hotels, multiplexes, corporate offices and food plazas within the complex.Officials said the redevelopment work at the station was underway for nearly three years. The commercial spaces will be allotted under a revenue-sharing model in which the Railways will receive a minimum share of 25 percent of the revenue generated. RLDA fixed a reserve price of about Rs 130 crore for the project.To ensure transparency in the bidding process, the authority released a detailed schedule for interested investors. A pre-bid meeting will be held on March 17 at 11:30 am at the RLDA headquarters through both offline and online modes. Companies and investors interested in the project will be able to submit their e-bids until April 23. The bidder offering the highest bid will be granted rights to operate commercial activities on the seven floors for a period of 45 years.As part of the redevelopment plan, the structural framework of the new building was already completed. The ground floor and some other sections of the building will house railway offices, ticket counters and waiting areas for passengers. A major feature of the new design will be the spacious concourse on the first floor where passengers will wait for their trains before using escalators to directly access the platforms. PRO, Prayagraj Division, Amit Singh, said the redevelopment will not only provide airport-like facilities to passengers but will also ensure long-term and stable revenue for the railways. Officials aim to complete the entire redevelopment project by the end of 2026.