AHMEDABAD: The Sabarmati Riverfront Development Corporation Ltd (SRFDCL) is taking steps to draw more interest in its ambitious riverfront development project. In response to feedback from potential bidders, it has decided to amend the experience criteria for qualifying companies, which is likely to attract more companies to participate in the bidding process.
The SRFDCL issued a request for proposal (RFP) for the sale of development rights for two riverfront plots. No international company showed interest. While the sale drew interest from two Mumbai companies and five from Gujarat, their representatives raised queries regarding the experience criteria and parking.
Previously, companies were required to have completed one commercial, mall, hotel or mixed-use project of at least 50,000 square metres in the past six years.
This stringent requirement had deterred several potential bidders, particularly as several large commercial or hotel projects could not be completely in the wake of the Covid-19 pandemic. They requested SRFDCL to consider residential projects of the same size.
The SRFDCL will issue an amendment to this effect soon to attract more companies and increase competition among bidders.
An SRFDCL official explained the rationale behind this decision: “By relaxing the experience criteria, we aim to create a more level-playing field and encourage a wider range of companies to participate in the bidding process. This increased competition will ultimately benefit the project and ensure that the development rights are awarded to the most qualified and capable bidder.”
In addition to the experience criteria, the SRFDCL has also clarified parking regulations and addressed other queries raised by potential bidders during the pre-bid meeting. The corporation has confirmed that three basements are allowed for parking and that a separate visitor parking arrangement is not mandatory.
On Sep 13, SRFDCL issued an RFP for the sale of development rights for a plot located near Vallabh Sadan on the west side, and another near Lemon Tree Hotel on the east side. The plot on the west, measuring 4,420 square metres, will have development rights for 60,050 square metres of construction, with a base price of Rs 23,676 per square metre.
The plot on the east, measuring 3,045 square metres, will have development rights for 41,385 square metres of construction, with a base price of Rs 20,833 per square metre. Bids will be accepted until Oct 15, and opened on Oct 16.
Ahmedabad: Guidelines for the development of the two riverfront plots up for sale include podium height restrictions (up to four floors), build-to-line requirements and specific building facade standards. It specifies that podium level is intended for commercial, not residential use.
The rules seek pedestrian-friendly features like dedicated pathways, sheltered passages, and prohibition of vehicular traffic in certain areas. It states that basements of nearby buildings should be connected. Location and tentative alignment will be provided in the drawing.
The material used on the building facade shall be non-reflective and utility elements shall not be visible from outside.
