http://www.hospitalitybizindia.com/detailNews.aspx?aid=5244&sid=1MMRDA relaxes norms to attract builders for Iconic Tower
Companies such Tata Realty and Infrastructure, Reliance Infrastructure, Shapoorji Pallonji, Indiabulls etc attended the pre-bid meeting on June 18, 2009. However, a lukewarm response from international firms and demands from the bidders to relax norms made MMRDA take this decision.
As per new norms, the bidders should have completed one building of 300 mt each as against earlier criteria of completing 400 mt to qualify as a bidder. The bidders should have completed two infrastructure or mixed land use projects under PPP or BOOT basis together costing Rs 2000 Crore as against the earlier criteria of completing two buildings of Rs 1000 Crore each.
The authority has relaxed the norms relating to the lead member in case of JVs, saying that lead members should have a holding of not less than 26 per cent as against the earlier criteria of lead member having 75 per cent holding in the JV. On the request of the companies, MMRDA has extended the last date of submission of bids from July 2 to 31, 2009.
Work on Wadala's iconic tower to start in October 2009
Friday, June 19, 2009, 16:00 Hrs [IST]
By HBI Staff | Mumbai
In a report in The Times of India, the work on the 531 metre tower coming up at Wadala will start in October 2009. With an updated investment figure of Rs 4000 Crore, the structure will have a built-up area of 60000 Lakh sq ft. The building will house several hotels. About 30 floors of the building will have seven-star hotels and luxury apartments. For the first 60 floors, there will be high-speed elevators while the rest of the building will have normal elevators. The building will be centrally air-conditioned, have electronic circuits, elevated transport and security.
As reported earlier in Hospitality Biz, 23 firms have shown interest to design and offer consultancy services while nine companies are expected to bid for constructing the tower. The area will be connected by the monorail and Metro rail lines; the trans-harbour project will link Wadala with Navi Mumbai.