23 big firms eye Thatipur realty project in Gwalior

April 25, 2008	(1 votes, average: 2 out of 5)  Loading ...
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As many as 23 big real estate firms are eyeing the Thatipur project in Gwalior, Madhya Pradesh. Reliance, DLF, Parsvnath and Gammon are in the fray to bid for the mega project, of which the bid submission will end on May 7. The MP government has not set a reserve price for the project. The bidders have been asked to quote speculative prices. The state government has roped in India Infrastructure Initiative Facility of IDFC and Feedback Ventures as project advisors for selecting the developer of the project.

After the bidding is over for the Central Business District project in the prime business locality of New Market in Bhopal, Thatipur will attract mega investment under the “re-densification scheme”. Unlike the Bhopal project, which fetched Rs 338 crore from Gammon India for infrastructure development on 15 acres for a lease period of 30 years, the winning bidder will be awarded the Thatipur project on 95 years’ lease and will be asked to develop residential and commercial complexes on 50 acres in an integrated manner.

“The state government will lease the land for 95 years. Infrastructure will be developed on the basis of public-private partnership,” said Suresh Kumar, chief operating officer, Infrastructure Initiative Facility. “The investor will have to construct houses for government employees on 20 acres,” Kumar said. The project is expected to be completed in nine years. The India Infrastructure Initiative offers a “no-cost” solution to the governments or government undertakings to go through the process of project preparation and partner selection for the identified infrastructure projects.

News Published Under:   Real Estate Developers |

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