Mumbai: The Maharashtra government-led by Eknath Shinde Friday invited bids for the much-delayed showpiece, the Dharavi redevelopment project.
In a newspaper ad, the Slum Rehabilitation Authority has invited for an international competitive bidding process starting on 30 September, while the pre-bidding meeting is scheduled on 11 October.
The last date of submission for the bid is 29 October.
The authority has invited bidders to submit their bids in a single-stage, two e-envelopes e-tendering process.
According to the Dharavi redevelopment project, the estimated cost of the project at this stage is Rs 23,000 crore.
The selected lead partner has to form a Special Purpose Vehicle (SPV) model with 80 per cent equity, which is Rs 400 crore and the Maharashtra government will hold 20 per cent equity, i.e., Rs 100 crore.
The aim of SPV is to construct free housing for eligible slum dwellers and occupants, including amenities and infrastructure.
On Thursday, the Maharashtra Housing Department issued a government resolution (GR) announcing a floor space index (FSI) of 4 for the redevelopment along with several concessions in the form of a premium paid by the developer, inspection charges, goods and service tax etc.
“Bidding Company/Lead Member of the Consortium shall have a minimum consolidated net worth of Rs 20,000 crore as per the latest balance sheet and such balance sheet shall not be earlier than March 31, 2022,” stated the GR issued by the state’s housing department.
Further adding: “The Bidding Company/ Technical Consortium Member shall have total experience in the development of real estate projects of not less than 6 million sq. ft. in the last 7 years and for which Occupation Certificate or equivalent should have been received.”
The government resolution also noted the project is expected to be completed in phases in the next seven years.
Two bidders had earlier shown interest in 2019 but due to the issue of land with the Ministry of Railways and delays by the Centre, the winner of the bid — Seclink Technology, a Dubai-based infrastructure company bid could not be awarded the contract as the previous Uddhav Thackeray-led Maha Vikas Aghadi (MVA) government scrapped the bid.
The redevelopment of Dharavi, spread over 600 acres, is a hub for several small-scale and unorganised industries that manufacture medicines, leather, footwear, and clothes.
It is a mix of residential and commercial with an estimated population of 6.4 lakh. The redevelopment of the slum was first mooted in 2003-2004 by then chief minister Vilasrao Deshmukh.
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Source: The Print
