AHMEDABAD: After days of waiting, the Sabarmati Riverfront Development Corporation Ltd (SRFDCL) revised its request for proposal (RFP) for the sale of development rights for two prime riverfront plots. The submission deadline was extended from Oct 15 to Oct 22, giving interested parties more time to prepare their bids.
In a key change, the financial eligibility criterion was relaxed, with the required average annual turnover over the past three years reduced from Rs 284 crore to Rs 170 crore. This will attract more bidders, say senior sources in the SRFDCL.
Following a pre-bid meeting on Sep 30, SRFDCL modified the experience requirement, too. “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. Now, they have included residential projects as well,” says a senior SRFDCL official.
The auction covers two plots: one near Vallabh Sadan (4,420 sq m) and another near Lemon Tree Hotel (3,045 sq m). The base prices are set at Rs 23,676 per sq m and Rs 20,833 per sq m, respectively.
Bids will be opened on Oct 23, marking a crucial step in the ambitious Sabarmati Riverfront project.
