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Short lease stretches wait for new flats

Start from scratch, again. That seems the only way out for the Bihar State Housing Board (BSHB) to fulfil residents’ dreams of owning affordable and swanky flats.

The board has decided to start the bidding process for its ambitious residential project entailing construction of 1,506 flats in Bahadurpur afresh after it received a lone tender from Ultra Home Construction Pvt. Limited, an arm of Noida-based Amrapali Group, in its earlier initiative.

Sources claimed that most construction firms were not content with the 30-year lease stipulation for allotment of land on which the flats are to be developed. Accordingly, BSHB has decided to increase the lease period from 30 to 90 years to attract more tenders.

Revealing the decision, urban development and housing minister Samrat Chaudhary said: “The re-tender for the BSHB’s Bahadurpur residential project would be floated in two days and would be completed by mid-August.”

All flats under the Bahadurpur Colony Sector 5 project would be two-bedroom-hall-kitchen (BHK) on a built-up area of 774sqft.

A total of 1,596 2BHK flats would be built in 14 towers, each with 19 floors. Each floor would house six flats. According to sources, the estimated cost for the residential project is Rs 561 crore.

The project would be executed in public-private partnership (PPP) mode. The private developers are required to develop housing units on residential land. In return, they would get commercial land with lease rights for building hotels, malls and offices.

BSHB began the bidding process for the project, envisaging development of 1,596 residential flats in Bahadurpur Sector 5 and its associated commercial developments across 4.17 acres at DS Sector in Lohia Nagar, by issuing request for proposal on June 26, 2013.

Though September 20 was set as the last date for submission of bids, it got two extensions till November 20.

Sources claimed that the pre-bid meeting under the re-tender in this project would be held on July 25 and the bidding would take place on August 12. “Booking of flats under any project would start only after the respective contract for construction work is awarded to the selected firm,” said a BSHB official.

BSHB has decided to start the bidding process for another ambitious project at Lohia Nagar, envisaging construction of 4,607 swanky flats across 41.7 acres for which the architectural design has been prepared by architect Hafeez Contractor. (See graphic)

Sources said the redevelopment projects at Bahadurpur would be undertaken in four stages.


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