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the government of Maharashtra Global tenders have been invited for the redevelopment of Asia’s largest slum Dharavi The mainland spread over 600 acres in the heart of the country’s commercial capital Mumbai,
The government is contemplating to develop this project through a joint entity, in which the selected major partner is expected to have 80% equity, which is Rs 400 crore and the state government will hold 20 per cent with equity capital of Rs 100 crore. % stake.
Maharashtra Deputy Chief Minister on Friday Devendra Fadnavis had announced that the government has already completed the process of approving this ambitious project and the necessary tendering process to start the redevelopment work would be done in the next three months.
Slum Rehabilitation Authority will award the contract to the bidder quoting an amount over and above the stipulated minimum investment of Rs 1600 crore, which the major partner of this special purpose vehicle is prepared to bring.
The notification issued by the state government housing said, “The bidding company/principal member of the consortium should have a minimum consolidated net worth of Rs 20,000 crore as per the latest balance sheet and such balance sheet should not be held before March 31, 2022.” should.” Department.
In the case of a consortium, the technical member of the consortium is expected to have a net worth of at least Rs 2,000 crore before March 31, 2022.
The bidder or technical member of the bidding consortium is expected to have total experience in the development of real estate projects of at least 6 million sq. ft. in the last seven years and for which a Occupation Certificate (OC) or equivalent has already been secured.
In the case of a consortium, the prime member is expected to have experienced 1.4 million square feet of realty development in the last seven years.
The pre-bid meeting is scheduled for October 11, while the last date for submission of bids is October 29.
The combined entity will be responsible for construction of free housing for the eligible slum dwellers and occupants including facilities and infrastructure. The first phase of the project is expected to be completed within seven years from the date of issue of commencement certificate.
On Thursday, the government announced a Floor Space Index (FSI) of 4 for the redevelopment, along with several concessions in the form of premium paid by the developer, inspection fee, goods and services tax etc.
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