Top five realty players from Mumbai have shown their interest in redeveloping this Mumbai project which is spread over 6.2 million square feet comprising of more than 5,000 tenants.

By Varun Singh

On Monday, a round of meeting was held on at MHADA headquarters in Bandra.

This meeting was held by the Mumbai board team of MHADA and representatives of five top real estate players attended it.

This was pre-bid meeting that took place at the MHADA headquarters in Bandra’s Kalanagar.

According to sources top five realty players attended the meeting and have shown interest in the redevelopment of this huge land parcel.

In October MHADA had floated tender for redevelopment of this 6.2 million square feet land parcel.

While the names of the top realty players are known, but on request of not disclosing them, we are dropping hints.

One of the interested party that attended the meeting is a Construction giant, which also is redeveloping one of the three BDD chawls in Mumbai.

The other name is of a giant in many fields that ventured into real estate and was one of the frontrunners in the Dharavi Redevelopment.

The third realty player has long term connections with MHADA as it has been construction major projects and homes that MHADA puts in lottery.

The fourth one is a top realty player from Mumbai with projects spread across the city.

The names of the fifth interested party couldn’t be ascertained.

So which project are we talking about?

The project is Motilal Nagar, located in Goregaon west.

The project is meant to rehabilitate more than 5300 tenants, is one of the biggest redevelopment that MHADA aims to carry out

Watch This story on Youtube

Details of the tender:
Executive engineer Mumbai housing and area development board a regional unit of MHADA through the process of e-tendering has invited digitally signed and unconditional online tender from eligible bidders for the work of redevelopment of Motilal Nagar I, II and III by MHADA through a construction come development contract along with work of development of DP designation/reservations/amenities etc and on-site/off-site related infrastructure activities on the basis of sharing of balance FSI (after reducing rehab component (rehab plus Slums plus DP designation/reservation/amenities etc. And on site/offsite related all infrastructures) to MHADA (Bid share criteria).

Project to be completed in 7 years:
Time limit for completion of construction of rehab component and Mhada share is 84 calendar months including monsoon period.

Area of the project:
The gross plot area is 5,79,243 sq mts,(62 lakh sq ft or 6.2 million sq ft) of which Motilal Nagar I is 3,51,556 sq mts, while Motilal Nagar II & III measures 2,27,687 sq mts.

Number of tenants:
The brief of rehabitation component includes rehab tenement approximately 3717 numbers and slum tenements approximately 1600 numbers plus DP designations/reservation/amenities (as per DP 2034 & MHADA layout approval).

FSI:
The permissible FSI is four and as applicable under DCPR 2034.

EMD:
Bid Security/EMD in the form of demand draft of Rs 50 Crore.

Bid Process:
The bidders have to submit their bids in single stage, to be envelops e-tendering process. The first E envelope technical bid shall be evaluated to ensure technical and financial qualification. Bidding company shall have experiences mention in the RFQ come RFP document the bidders shall have to produce original documents for verification the project will be awarded to the eligible bidder putting the highest percentage of bid share criteria.

Watch This MHADA story on YouTube

Start date & End date:
The starting date of Downloading RFQ cum RFP document is October 28, 2021 at 11 am and the closing date is December 13, 2021 at 1 pm.

The last date to send queries is November 11, 2021 5 pm queries can be sent through email only.

The pre-bid meeting was held on November 15, 2021 at MHADA headquarters.

The physical submission of bid security in the form of original demand draft can be done on December 13, 2021 from 1 pm to 3 pm.

Date for bid opening:
The date and time of opening of the envelop one which is the technical bid is December 14, 2021 at 3 pm in the office of the executive engineer at MHADA headquarters.

Eligible bidders to be informed:
The e-envelop 2, which is the financial bids will be opened only of the eligible bidders of which date and time will be intimated to eligible bidders by email separately.

Tenants unhappy:
The tenant Assocuation of Motlilal Nagar are unhappy. Nilesh Prabhu of Motilal Nagar Vikas Samiti, said, “House owners have not been taken in confidence in entire process. We cooperated with MHADA on every issue but then they have ignored us completely.”

Officials Quiet:
Officials from MHADA who attended the pre-bid meeting have sealed their lips, they confirmed the meeting though. The officials claimed that disclosing the name right now wasn’t an option. However, after a few days the entire details will be put up on the website of MHADA.

Also Read: MHADA Floats Tender for Redevelopment of 6.2 Million Sq Ft Prime Land in Mumbai

Leave a Reply
You May Also Like

How Much did Your Home Price Increase in 2021?

Price is an important factor when one decides to buy a house.…

Parinee Group raises Rs 325 crore for its Worli Project ‘Parinee Eminence’

Parinee Group has tied up additional funds of Rs. 325 Crores from…

MahaRERA: Steps To File A Complaint.

MahaRERA in the state of Maharashtra has been hearing cases related to…

Builders opt for Swadeshi instead of Chinese imports

Builders body CREDAI, has asked developers to not depend on Chinese Imports…