Delhi Metro Update: Tender invited for property development at Parmeshwari Wala Bagh

Delhi Metro Rail Corporation Ltd. (DMRC) has invited open e-tenders from eligible applicants, who fulfil qualification criteria for Request for proposal (RFP) for property development at 10656 sqm land plot at Parmeshwari Wala Bagh (Near Azadpur Metro Station).

• Tender Reference Number: CPD-81R1
• Name of Work: Request for proposal (RFP) for property development at 10656 sqm land plot at Parmeshwari Wala Bagh (Near Azadpur Metro Station).
• EMD: INR 69.46 Lakh
• Document Download / Sale Start Date: 19th December, 2022
• Document Download / Sale End Date: 18th January, 2023
• Pre Bid Meeting Date: 06th January, 2023
• Bid Submission Start Date: 12th January, 2023
• Bid Submission End Date: 18th January, 2023
• Tender Opening Date: 19th January, 2023

Project Background:

• Delhi Metro Rail Corporation (DMRC), a joint venture of the Government of India (GOI) and the Government of the National Capital Territory of Delhi (GNCTD) implementing the Delhi Metro Rail Projects, has been mandated by Ministry of Urban Development (MoUD), now MoHUA, to undertake value capture from property development initiatives for sustainable revenue generation so as to raise additional capital for part finance the Delhi Mass Rapid Transit System (MRTS) Project.
• The Ministry of Urban Development has also issued an order permitting DMRC to carry out Property Development in lands allotted for Delhi MRTS Project vide Order No. K-14011/8/2000-MRTS(Pt.) dated 30 March 2009.
• DMRC has been allotted a land plot by DDA measuring 10656 sqm at Parmeshwari Wala Bagh at Model Town for Phase-II of Delhi MRTS Project. It is proposed to carry out integrated commercial development on this space.
• The plot is situated near Azadpur metro station which is an integrated metro station on the SamaypurBadli – HUDA City Centre (Line-2) and Majlis Park – Shiv Vihar (Line-7) metro route. The site is close to prime localities of Model Town, Tagore Garden, Gujaranwala Town, Azadpur, Shalimar bagh, Civil lines, Mukherjee Nagar, Kamla Nagar, Police Line Kingsway Camp etc.
• Apart from Metro Rail accessibility, the site is very close to Ring Road and Mall Road junction which offers it a very good connectivity to Rohini, East Delhi and West Delhi. All these factors make this site attractive due to its potential for integrated commercial development. This plot can be advantageously used for developing floors with shopping malls, restaurants and banks etc.
• DMRC proposes to carry out MRTS Property Development on the land parcel through a developer/Bidder for this tender. The Project site is being offered on “as is where is basis”. NOC has been issued by DDA to carry out Property Development on this plot.
• However, requisite approvals from local authorities will be required to be taken by the developer. The existing land use of the plot is Transportation T-2 (MRTS Property Development) and development norms applicable to the site are as under:

• Through this tender, DMRC intends to select a „Lessee‟ to take up on „Lease basis‟, the land parcel available for MRTS Property Development. It is envisaged to transfer SubLease rights to a selected developer /Bidder with requisite financial, managerial and technical expertise for a period of 50 (Fifty) years from the “Commencement Date” to utilize the land parcel for integrated commercial development making use of available ground coverage and floor area as permitted under Master Plan of Delhi 2021 (MOD 2021). The successful bidder shall plan the layout for DMRC approval as per Section – 4 of this document. The site plan is placed at Annexure-6

Eligibility:

• The Bidder shall meet the following minimum eligibility criteria (the “Eligibility Criteria”):
• A Bidder must be a sole proprietorship firm or a partnership firm duly registered under the  Indian Partnership Act, 1932, or a Limited Liability Partnership duly registered under Limited Liability Partnership Act, 2008 or a body corporate incorporated and registered in India under the Companies Act, 1956 /2013, duly registered under the law applicable to such company, either individually or in Joint Venture or a Consortium under an existing agreement and further subject to compliance with applicable laws, policies and guidelines of the Government of India.
• In case the Selected Bidder is a Consortium/JV, such Consortium/JV shall be required to incorporate a company under Companies Act, 2013 which shall be a special purpose company (“SPC”) within 30 days of issuance of the LOA and the SPC shall enter into Lease  Agreement with DMRC for implementation of the Project.
• The members of Consortium/JV shall be required to maintain 100% of the equity of the SPC throughout the subsistence of the Lease Agreement. In case company is not incorporated within 30 days of issuance of LOA, then the LOA will stand cancelled and the amount deposited by the selected bidders (i.e. Interest free Security deposit, Upfront Lease Fee etc.) shall be forfeited.
• In case selected bidder is other than a consortium/ JV, they may also form a special purpose company (SPC), within 30 days of issuance of the LOA under intimation to DMRC and the  SPC shall enter into Lease Agreement with DMRC for implementation of the project. The  bidder shall be required to maintain 100% of equity of the SPC throughout the subsistence of the Lease Agreement.
• Bidder/SPV (either as single entity or as a member of JV/consortium or SPV of JV/consortium/single entity) having any existing lease/ license agreement of DMRC property(ies) will be considered ineligible to participate in the bid if as on last date of submission of this tender the lessee/ licensee:
• Has any dues pending for more than 90 days.
• Has any case wherein any licensed/ Leased space/ premises have not yet been vacated after completion of the tenure of the lease including grace period (if any provided) or after  pre-mature termination/ surrender of lease.
• Has any case wherein the possession of any licensed/ Leased space/ premises has not yet been taken over by them due to reasons attributable to them.
• Has an un-resolved case of non-vacation of encroached areas including encroachment of  common areas/ circulating areas or any other space which has not been licensed to them even after a notice has been issued to vacate.
• Has not opened the Escrow account for the license /Lease agreement(s) of DMRC in which there is a provision of opening of Escrow account.
• Has not ensured that sub-Lessees are making all the payments whatsoever through escrow account and does not remit all DMRC dues through said Escrow account, if Escrow Account is opened.
• In case the bidder is DMRC‟s existing lessee/ licensee/ concessionaire for some other  space licensed/ leased/ concessioned out by DMRC, the bidder is required to submit the details by duly filling up Annexures 13A & 13B. In case the bidder is not an existing lessee/ licensee/ concessionaire of DMRC, the fact shall be clearly stated in the Annexures.

Technical Capability:

• The Bidder (as a developer / contractor / owner) should have successfully completed in last 10 years preceding the bid opening date, commercial/ residential/ warehouse/ property development project/s equivalent to either:
  • One similar project having built up area not less than 80% of 10656 Sqm Built Up Area; or
  • Two similar projects each having built up area not less than 50% of the 10656 Sqm Built Up Area; or
  • Three similar projects each having built up area not less than 40% of 10656 Sqm Built Up Area
• The commercial / property development project/s being treated as completed when it is ready for occupation and the same is certified as such by an Architect / statutory auditor / or the Chartered Engineer as the case may be.
• Bidders shall submit their technical eligibility in the specified Bid Form for technical eligibility duly certified by an architect and the statutory auditor or the chartered Engineer as the case may be.

Tender document can only be obtained after registration of tenderer on the website https://eprocure.gov.in/eprocure/app

Source: DMRC- Tender | Image Credit (representational): DMRC