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Deadline to submit tender for Dharavi redevelopment extended

Global tenders for selection of a lead partner for the redevelopment of Dharavi was floated in November.

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The redevelopment project has been priced at above Rs 20K crore
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The date of submission of tenders for Dharavi's redevelopment was earlier Friday but, has now been extended to January 8. There was only one bidder to have submitted a tender until now. Around 15-20 top developers and contractors from the country participated. In the pre-bid meeting, organised by the Dharavi Redevelopment Project, for the reconstruction of one of Asia's biggest slums. The response during the meeting held earlier this month seemed hopeful. However, the actual response was very low thus, forcing the authority to extend the deadline. This is not the first time that an extension has been allowed for Dharavi tenders. Even the previous tenders have received multiple extensions.

Chief Minister Devendra Fadanvis confirmed the development.

Global tenders for selection of a lead partner for the redevelopment of Dharavi was floated in November. The project will be awarded to the one who will bid above the base price of Rs 3,150 crore. The base price is separate from the equity of Rs 400 crore for the Special Purpose Vehicle. The state had earlier announced that it will float an SPV for the redevelopment of Dharavi if the lead partner forms the SPV with 80 per cent equity (Rs 400 crore) while the government holds 20 per cent equity (Rs 100 crore). The last global tenders were floated in January 2016. However, there was no response to them.

The redevelopment project has been priced at above Rs 20,000 crore but, the base price for the tender remains Rs 3,150 crore. The previously declared last date for submission of the bid was December 28 but, now it is January 8.

According to SVR Srinivas, Head of Dharavi redevelopment project, prospective bidders had requested an extension. Also, only one bidder had come ahead by far and hence the deadline was extended.

Dharavi is spread over 240 hectare of land and is centrally located. It is close to Bandra Kurla Complex, the financial hub of Mumbai. Even the tender floated by DRP talks about it. The tender also speaks about various kinds of public transport, railway stations, the Dharavi Metro station and to indicate how the place is connected to the south of the city, BKC, and the international airport. The tenders also speak about additional connectivity as the MMRDA is planning to build another road near Dharavi to the Bandra Worli Sea Link. They also speak about the Mumbai Trans-Harbour Link that is being constructed to link the central part of the city to the international airport.

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