MUMBAI: Several top builders in the city have questioned the stiff eligibility norms in place for bidding on a 24-acre sprawl in Bandra Reclamation with a gross development value of Rs 30,000 crore-plus, reports Nauzer Bharucha. Their representatives had gathered Tuesday at the MSRDC office in Bandra (West) to discuss the process.
“The biggest builders will find themselves ineligible to bid. It looks like the tender has been tailor-made for a select few,’’ said a developer, whose representative attended the pre-bid meeting.
“MSRDC wants only those bidders with minimum consolidated net worth of Rs 15,000 crore as of March 30, 2023,’’ he said. To meet the Rs 15,000-crore stipulation, the bidder must also be a “single entity’’ and not a consortium or joint venture. And they must have developed a project with a total built-up area of at least 2.6 million sq ft anytime in the last 10 years.
