"IRCTC follows the two packet open competitive bidding system to grant licenses. Tender for each site is separately issued by IRCTC," Minister of State for Railways E. Ahamed told the Rajya Sabha on Friday, according to the report.
The ministry will give land on license to IRCTC for 30 years on a revenue-sharing ratio of 40:60 between the railways and IRCTC, the minister said.
Apart from that, there is a nominal land license fee to ensure that the total earning for the railways is not less than 2.5% of the market value of the land, Ahamed added.
The detailed contract conditions with the licensee are being framed by IRCTC
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