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MMRDA relaxes norms for bidders of Wadala iconic tower

Saturday, June 27, 2009, 20:00 Hrs  [IST]
By PT Staff | Mumbai

The MMRDA has decided to relax the norms relating to eligibility criteria of the bidders in order to stir up interest in the proposed iconic building to be set up at Wadala in Central Mumbai. The building will house several hotels.

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.

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