Ahmedabad Projects Threadby Jai
Firstly, this article:
Riverfront a dream for local realtors? (http://timesofindia.indiatimes.com/articleshow/1584715.cms)
[ Sunday, May 28, 2006 09:43:18 pmTIMES NEWS NETWORK ]
AHMEDABAD: There's some bad news for local developers who have been salivating at the thought of sinking their teeth into the juiciest bit of realty in town - the Sabarmati riverfront.
The river's banks may not really become a playground for the smaller fish. Biggies like Unitech, DLF, Rahejas and Emaar may actually traipse away with the mega-deals that will be on offer later this year.
The government is planning to invite global bids for large chunks of land in the 32 hectares earmarked for commercial and residential development.
The government's view is that it does not make sense in splitting up the land into small plots. Instead, narrow strips of land stretching up to 1 km each could be considered the minimum unit.
As many as 20 hectares are to be sold for commercial projects and the remaining 12 hectares are allocated for residential projects.
What will make the project particularly viable for global and national players is the high FSI (floor space index) that is being planned to allow the building of skyscrapers, especially in the central business district (CBD) proposed between the Nehru Bridge and the Gandhi Bridge.
Confirming this, SRFDCL chairman Anil Mukim said, "The overriding concern is that the project matches global standards." The idea is that it will be easy to handle the infrastructural needs - like parking - if each developer is given large tracts of land. Besides, it will help maintain the desired skyline :cheers: :cheers: and synergy in design."
The invitation for global bids could be out as early as October 2006, the deadline for completion of walkways along the 11.5 km-long stretch between Subhash Bridge and Vasna Barrage.
With the urban design plan is on course, to be ready by August-September 2006, the General Development and Control Regulations are expected to be finalised by October 2006 after which global bids would be invited.
This latest twister comes after local builders were even given a sneak preview at a private screening by the Sabarmati Riverfront Development Corporation Limited earlier.
The only Ahmedabad-based realty player who looks capable of generating such resources is Adani group chairman Gautam S Adani, who has just bagged one of the biggest realty deals in Mumbai's Bandra-Kurla complex.
"A proper job which would meet international standards is possible only if large chunks of land are offered," he said. Players like K Raheja Corp also can't help drooling. "We will certainly pitch in when bids are invited," said a K Raheja Corp spokesperson.
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