Tata Projects takes up ₹10,700 cr Worli realty project
Tata Projects in a joint venture has turned out to be the lowest bidder for the redevelopment of Worli BDD Chawls offered by the Maharashtra Housing Area Development Authority (Mhada) at an investment of ₹10,700 crore. The Tata-led consortium comprising Tata Projects, Capacit'e Infraprojects and Chinese CITIC Construction Company quoted a rate of ₹49,617 per sqm of construction area, while a consortium led by ACC India and the Lebanon-based Arabian Construction Company Holding Ltd quoted ₹53,810 per sqm, a senior Mhada official said, that the bid details would be presented before an empowered committee spearheaded by state chief secretary, DK Jain, to give final nod for the construction of the mega project. The Worli project had not received any bids in two tenders in the past, while the third tender had attracted controversy when the Shapoorji Pallonji Group was not allowed to bid. The BDD Chawl redevelopment projects at Naigaon and NM Joshi Marg are going well, but the Worli project is the most prominent and most visible, he added.
