Located in Bhopal, Habibganj is set to become the first railway station to be built under a public-private partnership to make it at par with international standards.
Local firm Bansal Group has been awarded the contract to build, maintain and operate the station for eight years.
The company has been allotted four land parcels on a 45-years lease.
Rs 100 crore is being invested to revamp the station and the additional four land parcels will be developed into commercial spaces with a budget of Rs 350 crore. The total area adds up to 17, 245 square meters.
The station will be converted into a world-class transit hub featuring a shopping stores, restaurants and eateries, parking lot among others.
The station will also be environment-friendly, powered by solar energy and will have facilities that adhere to differently abled people.
The transit hub is said to be designed in such a manner that, in case of an emergency, passengers can evacuate the area within four minutes.
Railway Minister Suresh Prabhu is scheduled to launch Habibganj's redevelopment work on June 9.
Anand Vihar, Brijwasan, Chandigarh, Gandhinagar and Shivaji Nagar station in Pune are other Railway stations that are set to be revamped by the Indian Railway Stations Development Corporation Limited (IRSDC).