VIJAYAWADA: As many as 24 firms, some of which are established players in the field of construction and real estate, have evinced interest in Amaravathi Township proposed by the Vijayawada, Guntur, Tenali and Mangalagiri Urban Development Authority (VGTM-UDA) on a 50-acre site near Mangalagiri.

The firms responded to the UDA's call for expression of interest in the project before the deadline ended on Monday.

While about half of them have already been executing some big projects in and around Hyderabad, a good number are settled players in Bangalore, Delhi, Chennai, Kolkata and other cities. Two local players are also in the race.

Madhucon Projects Limited, Maytas Properties Private Limited, IVRCL Infrastructures and Projects Limited, Indu Projects Limited, K. Raheja Corporation Private Limited, Indo-African Industries Private Limited, Visu International Limited, Lotus Group, Nagarjuna Construction Company Limited and Lingamaneni Estates Private Limited are a few of the 24 firms who have evinced interest. Representatives of some eight firms have already visited the site for a first-hand feel.

Either all or some of them are likely to respond to the UDA's `request for proposal', based on which a short-listing will be done to hand over bid documents. Selection of bidder will be made on the basis of business, technical and financial proposals to be submitted in sealed covers.

Plan flexibility

UDA vice-chairperson Y.S. Prasad says that the successful bidder will have the option of developing the township either on the basis of the plans drawn by Surbana International Consultants Private Limited, the architects engaged by the UDA as consultant, or use its in-house expertise for any new plan.

As per the plan suggested by architects of Surbana International, 2,040 flats in 39 blocks (each in Ground+7 model) can be constructed, creating an overall built-up area of 34 lakh square feet.

On its part, the UDA will only lay arterial roads to the township site, but not internal ones. It also arranges for water supply, electricity, sewage and other civic amenities.

Crucial factor

The UDA will also decide the value of the land on its own, and cite this as a `minimum guaranteed amount' that the developer will have to pay. Only those firms that agree to pay the amount will be allowed to participate in the bidding process.

"But the crucial factor, which will decide the successful bidder, is the share of revenue which has to be offered to us from the sale of each residential unit. Whoever offers us the highest share will get the contract," Mr. Prasad says.

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