Work on the Rs 4,000-crore, 531-mt tall iconic tower to come up at Wadala is slated to start in October. It will be the world’s seventh
tallest structure with a built-up area of 60,000 lakh sq ft, the largest among such buildings in the world.
The Mumbai Metropolitan Region Development Authority (MMRDA) commissioner, Ratnakar Gaikwad, said permissions should be ready shortly for the project. "The building will generate Rs 2,000 crore in revenue through rent, which will go towards other development projects in the region,” said Gaikwad.
Speaking soon after a pre-bid meeting with companies interested in developing the project, Gaikwad said they had extended the last date for submissions for the pre-qualification bids to July 31.
The companies which attended the pre-qualification bid meeting were Reliance Infrastructure, India Bulls, Tata Realty and Infrastructure along with Scomi, Shapurji Pallonji, IL&FS Infrastructure, Pratibha Industries, Skylark Build, and Som Enterprises.
"The pre-qualification bids will be followed by technical and financial bids. We should be able to begin work on the project in October and it will take four to five years to be completed on a Design, Build, Own, Operate and Transfer basis,” he said.
Regarding the height of the building being a cause for concern for aviation safety, Gaikwad said experts have assured them that it would not be a problem. "We will put up the case before the Central minister for civil aviation, Praful Patel. Chief minister Ashok Chavan will also write a request for the project’s clearance,” he said.
The MMRDA joint commissioner, Ashwini Bhide, said Wadala would become a well-connected point with the new tower and infrastructure. The area would be connected to other parts of the city by the monorail and Metro rail lines; the trans-harbour project would link Wadala with Navi Mumbai. Bhide added that the Eastern Expressway would also be in close proximity.
Bhide said that Rs 40 crore has been allotted for paving roads around the project site.
"The shape of the building will depend on the developer’s design,” said Bhide, adding that the final design might have two towers instead of one.
"The building will have several hotels in it,” said deputy chief of transport planning, R Ramanna. "About 30 floors of the building will have seven-star hotels and luxury apartments. For the first 60 floors, there will be high-speed elevators while the rest of the building will have normal elevators.”
Ramanna said the building would be centrally air-conditioned, have electronic circuits, elevated transport and security, and the tenants would be allowed to change the decoration according their needs.
Original article here.