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DLF & Parsvnath becomes the only bidders for MCD Civic Center venture

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According to the sources available to www.propertykhazana.com, DLF & Parsvnath Developers are the alone fiscal bidders for New Delhi’s tower, which is the planned civic centre of the MCD. As per the sources, DLF has increased higher bid than its challenger Parsvnath. But, the venture has not yet come in any realty developers lap and the conclusion will be based on the bid amount that pleases the authority.
Furthermore, there was a option of going for re-bid and planned venture will be build on 11.5 acres at Jawaharlal Nehru Marg, dropping at the distance of 1 km from Connaught Place and it has planned to finish by 2008, added the source at the www.propertykhazana.com. The organization will have 28 storey with 6 Lakhs Sq.ft of commercial space in Delhi and 3 level basement parking lot and 50% space of the tower will come under the MCD and the leftover will be rented, marketed and will be managed by the winning bidder.
Meantime, commercial space will have auditoriums, restaurants and a collection of leisure hubs, fiscal institutions and health clubs. Allowing the rents in CP going through the top any new supply of commercial space will get the best provided by the present demand. Accessible rent situation in CP will not be the merely principle to decide the prices and they are thought to be big depending on the quality of building and division of space.
As per the source saying at the www.propertykhazana.com Contract is underrated at Rs. 400 Crores depiction the winning bidder an internal rate of return about 60% and MCD is still having one more alternative of re-bidding if the authority finds the bids offensive.
Source: NBTVLIVE

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