Sunday, August 09, 2009

Bidadi back in bidding

Bidadi back in bidding

State to put up Rs60,000crore project, which was dumped by DLF for fresh bidding. Four more locations to be developed on mega scale

Sobia Khan & Devina Sengupta. Bangalore



Bidadi is back in news. The state government has brought the much-delayed Integrated Township Project (BITP) out of cold storage and decided to put it up for fresh bidding for development. The state has bigger plans this time.
It has also decided to put four other locations — Magadi, Kanakapura, Nelamangala and Hoskote — for bidding at a later stage for similar mega-townships.
Delhi-based DLF Ltd., which was supposed to execute the Rs60,000-crore mixed-use project at Bidadi, backed out citing delays in land acquisition by the government and the economic slowdown.
The ambitious project was intended to decongest Bangalore city and provide an alternative destination for investments and workplaces.
"We will re-invite bidders for this project while we also plan to develop four other townships in the state," K Lakshmipathy, joint director, urban development government of Karnataka said on Saturday.
A DLF official, who did not want to be named, said the company would be interested in bidding once again for the project depending up on its viability and speed of execution. "If it makes sense, we will be in the race for it," he said.
The Bidadi project had been awarded to the DLF consortium in October 2007 after a two-stage global bidding process on a pilot basis. While there were 24 applicants in the first stage, DLF was the only bidder at the last stage.
DLF had made commercial offer of Rs57.50 lakh per acre besides meeting the land acquisition cost, rehabilitation and resettlement cost, according to government statements at the time of the bid award. The 9,000 acres for the project was to include about 2198 acres of government lands price for which was to be fixed on par with private lands acquired for the project. However, given the subdued real estate market it remains to be seen if the proposed new bidding will fetch such high prices at the location.

Apart from Bidadi, four other locations — Magadi, Kanakapura, Nelamangala and Hoskote — will be put up for
bidding at a later stage for the development of similar mega-townships —K Lakshmipathy, Joint Director, Urban Development

0 Comments:

Post a Comment

Links to this post:

Create a Link

<< Home