DLF set to bag MCD project
DLF set to bag a civic centre project from Municipal Corporation of Delhi.
By PTI |
NEW DELHI: Real estate behemoth DLF is all set to bag a civic centre project from Municipal Corporation of Delhi (MCD) in the heart of the national capital, for which it is understood to have made the highest bid of Rs 398 crore.
MCD had invited expressions of interest from developers for taking on 30-year lease about four lakh square feet of office space along with auditorium and food court.
"DLF and Parsvnath were the two bidders for our civic centre project near Minto Road," a senior MCD official said.
He said 50 per cent of the area under the civic centre would be occupied by the winner of the contract.
Market sources said that DLF has emerged as the highest bidder with the bid of Rs 398 crore while Parsvnath came second with Rs 326 crore.
When contacted, DLF official declined to comment as the bidding process was not completed.
The development of the civic centre was being undertaken by the MCD itself, the sources added.
Apart from the upfront payment, the winner would have to make an yearly payment of 2.5 per cent of the bid amount as rental, they said.
After the successful IPO of over Rs 9,000 crore, DLF has already emerged as a sole bidder for two projects in Delhi and Bangalore.
While the Dwarka project is for developing convention centre, that in Bangalore is an integrated township of over 9,000 acres.
MCD had invited expressions of interest from developers for taking on 30-year lease about four lakh square feet of office space along with auditorium and food court.
"DLF and Parsvnath were the two bidders for our civic centre project near Minto Road," a senior MCD official said.
He said 50 per cent of the area under the civic centre would be occupied by the winner of the contract.
Market sources said that DLF has emerged as the highest bidder with the bid of Rs 398 crore while Parsvnath came second with Rs 326 crore.
When contacted, DLF official declined to comment as the bidding process was not completed.
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The development of the civic centre was being undertaken by the MCD itself, the sources added.
Apart from the upfront payment, the winner would have to make an yearly payment of 2.5 per cent of the bid amount as rental, they said.
After the successful IPO of over Rs 9,000 crore, DLF has already emerged as a sole bidder for two projects in Delhi and Bangalore.
While the Dwarka project is for developing convention centre, that in Bangalore is an integrated township of over 9,000 acres.
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