Nearly twenty-three of the leading real estate firms are competing for the Thatipur project located in Gwalior. Industry giants such as Reliance, DLF, Parsvnath, and Gammon are fiercely contending for this monumental project, with the deadline for bid submissions set for May 7.
In a notable move, the Madhya Pradesh government has opted not to establish a reserve cost for this ambitious undertaking. Instead, bidders are encouraged to propose their own speculative costs.
For selecting the developer for this project, the state government has engaged the expertise of the India Infrastructure Initiative Facility from IDFC alongside Feedback Ventures, who will serve as project consultants.
Following the completion of the bidding process for the Central Business District initiative in the prime commercial area of New Market in Bhopal, the Thatipur project is anticipated to draw substantial investment under the state’s re-densification scheme.
In contrast to the Bhopal project, which secured an impressive three hundred thirty-eight crore rupees from Gammon India for infrastructure improvements covering fifteen acres over a thirty-year lease, the successful bidder for the Thatipur project will receive a much longer ninety-five-year lease. This project encompasses the development of residential and commercial complexes across fifty acres in a cohesive and integrated manner.