Many Projects Hanging Fire

Projects worth millions are running on slow pace. As many as three major projects, including that of Chandigarh initial master plan are still in the drawing board. An 11-storied building, as envisaged by Le Corbusier, a multi-crore multimedia city and the only theme park from Turner International in the country are some of the prime projects of the Chandigarh Administration. All of them are moving ahead on a very slow pace.
People dose to the developments say that the government processes are taking their time but the projects are moving ahead. Government officials say that projects of such a grand scale take time and it is not just up to the government to expedite the process.The Chandigarh Administration had invited developers to bid for the 11 – story building in City Centre Plaza in Sector 17, the hub of commercial activity in the city. With a covered area of approximately 5 lakh square feet on 1.54 acres will be a modern entertainment and commercial shopping mall and office complex.
In February, a pre-bid conference was organized such that the pre-qualified bidders are allowed to participate in subsequent bidding process. The project had attracted many developers – as many as 12 companies had submitted bid documents. The companies included Parvesh Developers Ltd, A B Movies Pvt Ltd, LIM1 (India) Infrastructure, DLF Universal Ltd, L&T Pragnya Fund 1 Consortium, PLL-CEC Consortium, Nagaarjun Cons 1 ruction Co Ltd, Emmar MGF Consortium, Uppal-GGL Consortium, M/s Mega Projects & Ventures (I) Pvt Ltd, Tata Housing Development Co Ltd and IVRCL Infrastructures & Projects Ltd.
The bids are to be scrutinized by a committee to fulfillment of all qualifications criteria. Pre-qualified bidders would submit architectural drawings/design bids and financial bids.
The design bids of all pre-qualified bidders would be assessed by a committee of renowned architects to ensure that these are in conformity with the concept and architectural principles as laid down by the planners of this city.

One Comment

  1. Posted July 17, 2008 at 3:30 am | Permalink

    yes when the news come up from the Bank sector like increasing the bank home loan which is to very effective work on the Real estate sector which is to be low in the lot of levels in the real estate sector.

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