bkc bid.pdf

MMRDA Convention & Exhibition Centre, Commercial Complex.Request for Proposal

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Tender Booklet No.:

INTERNATIONAL FINANCE AND BUSINESS CENTRE

BANDRA -KURLA COMPLEX, MUMBAI

A PLOT FOR CONVENTION AND EXHIBITION CENTRE & COMMERCIAL COMPLEX

ON LEASE

MUMBAI METROPOLITAN REGION DEVELOPMENT AUTHORITY, MMRDA OFFICE BUILDING, E-BLOCK, BANDRA-KURLA COMPLEX, MUMBAI - 400 051

Telephone No.: 2659 1236, 2659 4084Fax No : 2659 1264

E-mail: [email protected]


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TABLE OF CONTENTS

1. REQUEST FOR PROPOSAL ................................................................................................................ 4

BANDRA KURLA COMPLEX........................................................................................................................ 4DETAILS OF RFP ......................................................................................................................................... 4SALE OF BID DOCUMENTS........................................................................................................................ 4SUBMISSION OF BIDS ................................................................................................................................ 4

2. DISCLAIMER ....................................................................................................................................... 5

3. DEFINITIONS....................................................................................................................................... 6

4. PROJECT LOCATION......................................................................................................................... 8

BACKGROUND............................................................................................................................................. 8CONCEPT OF THE CONVENTION & EXHIBITION CENTRE (C&EC) ....................................................... 8PARTICULARS OF LAND............................................................................................................................. 9

5. CONVENTION & EXHIBITION CENTRE AREA SPECIFICATIONS ............................................... 10

CONVENTION AUDITORIUM..................................................................................................................... 10EXHIBITION AREAS.......................................................................................................................................

AREA STATEMENT FOR THE C&EC CONTD. ......................................................................................... 11

PERMITTED VARIATIONS......................................................................................................................... 14CONSTRUCTION REGULATIONS ............................................................................................................ 15

6. COMMERCIAL CONSIDERATIONS................................................................................................. 17

TIME PERIODS........................................................................................................................................... 18PROJECT STRUCTURE ............................................................................................................................ 18

7. SUBMISSION AND EVALUATION OF BIDS.................................................................................... 19

SUBMISSION OF BIDS .............................................................................................................................. 19INITIALLING OF THE BIDS ........................................................................................................................ 20RESPONSIVENESS OF BID ...................................................................................................................... 20EVALUATIONS OF BIDS............................................................................................................................ 21STEP 1 (COVER 1) COMPLIANCE WITH MINIMUM ELIGIBILITY CRITERIA ...................................... 23STEP 2 (COVER 2) FINANCIAL BID....................................................................................................... 24STEP 3 (COVER 3) - EVALUATION OF TECHNICAL AND BUSINESS PROPOSAL .............................. 25TIME TABLE................................................................................................................................................ 26

8. GENERAL INFORMATION TO THE BIDDER ................................................................................... 27

PRE-BID MEETING..................................................................................................................................... 27SITE VISIT AND SURVEY .......................................................................................................................... 27INSTRUCTIONS TO BIDDERS .................................................................................................................. 27VALIDITY OF TERMS OF THE BID............................................................................................................ 30FEES AND DEPOSITS TO BE PAID BY THE BIDDERS........................................................................... 30EARNEST MONEY DEPOSIT: ................................................................................................................... 30COMMENCEMENT GUARANTEE ............................................................................................................. 31COMPLETION GUARANTEE ..................................................................................................................... 31


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9. EXHIBITS ........................................................................................................................................... 32

PRINCIPLES OF THE MEMORANDUM OF UNDERSTANDING TO BE EXECUTED BETWEEN THEMEMBERS OF A CONSORTIUM (Exhibit-.1)............................................................................................. 32FORMAT OF THE COVERING LETTER (Exhibit-2) ................................................................................. 33FORMAT OF THE LETTER OF COMMITMENT (Exhibit-3)....................................................................... 35FORMAT OF LETTER OF ACCEPTANCE (Exhibit-4) ............................................................................... 37Description of the Bidding Company / Bidding Consortium (Exhibit-5)....................................................... 39Cover 1: Format for Information Submission: Minimum Eligibility Criteria (Exhibit-6) ................................ 40Cover 3 Format for BUSINESS PROPOSAL (Exhibit-7) ......................................................................... 42FORM OF BID (Exhibit-8) ........................................................................................................................... 44Location plan (Exhibit-9).............................................................................................................................. 48Block plan (Exhibit-10) ........ . 49


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MUMBAI METROPOLITAN REGION DEVELOPMENT AUTHORITY(MMRDA)

Grant of Lease of Land for developing and operating a Convention &Exhibition Centre , Commercial Complex at Bandra-Kurla Complex,

Mumbai, India

1. REQUEST FOR PROPOSAL

BANDRA KURLA COMPLEX

1.1 Mumbai Metropolitan Region Development Authority (MMRDA) constituted under theMumbai Metropolitan Region Development Authority Act, 1974 has been developingBandra- Kurla Complex (BKC) as a Finance and Business District Centre at centrallylocated place in Greater Mumbai. A large number of financial institutions and bankssuch as UTI, ICICI, IL&FS, NABARD, NSE, BOB, BOI, CITI Bank, SBI, Dena Bank,SEBI have already established their offices in BKC. Others like SIDBI, Punjab NationalBank and Canara Bank have committed to establish their offices in BKC. BKC is thusemerging as a new business district of Mumbai. Considering the potential forConvention and Exhibition Centre in such a business district, MMRDA has reserved aplot of land of 7.5 ha. MMRDA now proposes to allocate a plot of land of 5.5 ha. forsuch development of Convention & Exhibition Centre and also proposes to allocatea plot of land of 2.00 ha for a Commercial Complex, thus totalling 7.5 ha. MMRDAnow invites bids for grant of lease of land for development, operation and Maintenanceof the Convention & Exhibition Centre and Commercial Complex in BKC as set out inthis Request for Proposal (RFP) for grant of lease of land.

DETAILS OF RFP1.2 This Document is in two volumes:

Volume I: Request for Proposal (RFP)

Volume II: MMRDA (Disposal of Land) Regulations including the

Draft Lease Deed and Development Control Regulations for BKC.

SALE OF BID DOCUMENTS

1.3 The Bid Document will be available at a price of Rs.25,000/- (Rupees Twenty FiveThousand only) non-refundable payable in Mumbai by a Demand Draft drawn infavour of MMRD Fund, from the office of the

Lands Manager4th Floor, MMRDA Building

Bandra Kurla Complex, Bandra (East) Mumbai 400 051Telephone : 26594099, Fax : 26594178/26591264

Email : mmrda @ giasbm01.vsnl.net.in


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SUBMISSION OF BIDS

1.4 The schedule of sale of RFP Documents and Submission of Bids is given below;

Sr.No Activity Date and Time

1 Sale of RFP Documents 21 November, 2005 to 22 December 2005

2 Pre Bid Conference 1.00 p.m., 21 December 2005

3 Last date of receipts ofBids

12.00p.m., 22 December 2005

4 Opening of Bids 4.00p.m., 29 December 2005

Metropolitan Commissioner

Mumbai Metropolitan Region Development Authority

Bandra- Kurla Complex, Bandra (East)

Mumbai 400051


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2. DISCLAIMER

2.1 Though adequate care has been taken in the preparation of this Request for ProposalDocument, the Bidder should satisfy himself that the Document is complete in allrespects. Intimation of discrepancy, observed if any, should be given to the officementioned below immediately.

Metropolitan CommissionerMumbai Metropolitan Region Development Authority

Bandra-Kurla Complex, Bandra (East) Mumbai 400051Fax No.: 00 91 22 26594178, 26591264.

If this office receives no intimation by the date, which is 7 days prior to pre-bidconference, it shall be presumed that the Bidder is satisfied that this Request forProposal Document is complete in all respects.

2.2 Neither MMRDA, nor their employees make any representation or warranty as to theaccuracy, reliability or completeness of the information in this RFP nor is it possible forMMRDA to consider the investment objectives, financial situation and particular needsof each party who reads or uses this RFP. MMRDA recognises the fact that certainprospective Bidders may have a better knowledge of the Project than others and thusencourages all prospective Bidders to conduct their own investigations and analysisand check the accuracy, reliability and completeness of the information in this RFPand obtain independent advice from appropriate sources.

2.3 Neither MMRDA nor their employees will have any liability to any prospective Bidder orany other person under the law of contract, tort, the principles of restitution or unjustenrichment or otherwise for any loss, expense or damage which may arise from or beincurred or suffered in connection with anything contained in this RFP, any matterdeemed to form part of this RFP, the award of the Project and any other informationsupplied by or on behalf of MMRDA or their employees or otherwise arising in any wayfrom the selection process for the Project.

2.4 MMRDA reserves to itself the right to reject any or all of the Bids submitted inresponse to this Request for Proposal at any stage without assigning any reasonswhatsoever.

2.5 MMRDA reserves to itself the right to change any or all of the provisions of thisRequest for Proposal. Such changes will be intimated to all parties procuring thisRequest for Proposal prior to pre-bid conference.


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3. DEFINITIONS

3.1 Arbitrator:The Arbitrator is the person appointed by MMRDA to resolve disputes as provided inclause 8.30 of section 8.

3.2 Authority:Authority means the Mumbai Metropolitan Region Development Authority

3.3 Bid :Bid means the proposal submitted by the intending bidder in response to this Requestfor Proposal Document issued by MMRDA.

3.4 Bidder: Bidder means the Bidding Company or Bidding Consortium, as defined below, whichhas submitted a Bid in response to this Request for Proposal Document.

3.5 Bidding Company:If a single corporate entity makes the Bid for the Project, it shall be referred to as aBidding Company.

3.6 Bidding Consortium: If the Bid for the Project is made jointly by more than one entity, then this group of

entities shall be referred to as Bidding Consortium and such entities shall be referredto as Consortium Members. Bidding Consortium will have to incorporate an SPV priorto grant of Lease.

3.7 Critical Clearances:Critical clearances means all such clearances, licenses and permits, the obtaining ofwhich are Conditions Precedent to the construction of the Facility.

3.8 Document / Bid Document:Document / Bid Document means this Request for Proposal Document which has tobe submitted.

3.9 Financially Significant Consortium Member: Member with at least 15% equity in the SPV would be referred to as Financially

Significant Consortium Member.

3.10 Lessee:Lessee means the successful bidding company or SPV with which MMRDA entersinto a Lease Deed.

3.11 Lease deed: The deed of grant of lease of land under this invitation of bids to be entered into


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between MMRDA and the Successful Bidder.

3.12 Lead Consortium Member: In case of a Bidding Consortium the Lead Consortium Member shall be that

Financially Significant Consortium Member with the largest but at least 26% equitystake in the proposed SPV and is vested with the prime responsibility of developingthe Project and would require to be declared as such in the Consortium-MOU to beexecuted between the Consortium Members as per format presented in Exhibit 1.

The Lead Consortium Member shall be the authorised representative of the BiddingConsortium and shall be liable to MMRDA for all the obligations till the execution ofthe Lease Deed.

The Lead Consortium Member shall necessarily be a company - private limited or apublic limited.

3.13 Project:To design, finance, construct, operate, maintain and market the Convention &Exhibition Centre & Commercial Complex on the land leased by the MMRDA accordingto the conditions of this Document and the Lease Deed to be entered into with MMRDA.

3.14 Special Purpose Vehicle (SPV): SPV shall mean the new corporate entity to be established by the Selected Bidder to

serve as the Special Purpose Vehicle for the execution of the Project. In case of aselected bidder being Bidding Company it will have to continue to hold at least 51% inthe equity in the Convention & Exhibition Centre project for a period not less than 20years from zero date. If the selected bidder is a Bidding Consortium it will have toestablish the SPV according to the equity structure mentioned in the MOU in case ofa selected bidder being Bidding consortium, all the Financially Significant Consortiummembers including the Lead consortium member will have to continue to hold theirequity in the SPV for Convention & Exhibition Centre for a period not less than 20years from zero date.

3.15 Responsive Bidder:Responsive Bidder is one whose proposal is found responsive after evaluation of thebid as outlined in Section 7.

3.16 Rank 1 Bidder:The Bidder selected and ranked as no.1 according to the evaluation criteria asdetailed in Section 7 for grant of lease of land.

3.17 Zero Date: "Zero Date" means the date of issue of Commencement Certificate (issued undersection 45 of the Maharashtra Regional and Town Planning Act, 1966) to the proposeddevelopment or a date after the efflux of nine months from the date of execution of theLease Deed, whichever is earlier.


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4. PROJECT LOCATION

BACKGROUND

4.1 The MMRDA is a statutory body constituted under the provisions of Mumbai MetropolitanRegion Development Authority Act 1974. The MMRDA is also appointed as the SpecialPlanning Authority appointed under section 40 of the Maharashtra Regional and TownPlanning Act, 1966 for Bandra -Kurla Complex Notified Area by the State Governmentand is engaged in promoting the planned and orderly development of the notified area.

4.2 The International Finance and Business Centre (IFBC) is a part of Bandra-KurlaComplex. IFBC spread over an area of 130 hectares & already has leading financialinstitutions like ICICI, UTI, Citibank, IL&FS, NSE, NABARD, BOB, SBI, SEBI BOI, DenaBank, operating in this Centre. Similarly leading banks like and are in the process ofdeveloping their office buildings.

A large Diamond Bourse and a 440 room Trident (Oberoi) hotel are nearing completionunder construction. The IFBC has thus emerged as the new finance and business districtof Mumbai. The total employment of IFBC is expected to be around 150,000

CONCEPT OF THE CONVENTION & EXHIBITION CENTRE (C&EC)

4.3 Recognising the need of the Convention & Exhibition facilities in such a businessdistrict, MMRDA has decided to promote the establishment of a state-of-the-artConvention & Exhibition Centre, that will be a first of its kind in the country. As WesternIndia has no major Convention & Exhibition Centre, it is expected that Convention &Exhibition Centre would meet the growing needs not only of Mumbai city but also of theentire country. It has the following advantages :

A central location at the junction of the downtown and uptown areas of the city,in close proximity to Mumbais airport, that will be further enhanced with thedevelopment of the Western Freeway (presently under construction).

A large unencumbered site in a well-planned area of the city. A substantial hotel room cluster with the 440 room Trident Oberoi in the nearby

location (adjacent to the site), 770 room Grand Hyatt just to the north, 505 roomTaj Lands End in Bandra (West) and the large hotel room clusters near theairports and in Juhu.

A market with considerable latent demand, especially for exhibition space, dueto lack of suitable facilities.

A large economy with Mumbai being at its commercial centre. Strong space rental rates for exhibition spaces that compare favourably with

other centres in South East Asia. Construction costs in Mumbai and the country are still lower than in most parts

of the world.


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PARTICULARS OF LAND4.4 Out of plot No. C-64 land admeasuring 55000 sq.m. is allocated for Convention &

Exhibition Centre and 20,000 sq.m. is allocated for Commercial Complex for its useas described in Section 5 & 6 of this RFP.

4.5 The plots in the International Finance & Business Centre are already developed withroads, storm water drainage, water supply and underground sewerage. The Lessee willhave to apply for power supply, gas & telephone facilities, easily available in the area, tothe appropriate authorities.

4.6 The plot is situated at a distance of 200 m. from the High Tide Line along the MahimCreek delineated by the Chief Hydrographer, Government of India. For CRZ purposesthe width of adjoining Mahim Creek governs the width of CRZ. The distance of 200 m.is more than the width of the creek. The plot is therefore outside the ambit of CoastalRegulation Zone as prescribed by the Ministry of Environment and Forest. TheCoastal Zone Management Plan (CZMP) based on this has also been approved by theMinistry of Environment and Forest

4.7 The land put to bidding is situated in Greater Mumbai and falls within the purview of theUrban Land (Ceiling & Regulation) Act, 1976. The Lessee will be granted exemptionunder Section 20 thereof to hold the land on lease.

4.8 The development of infrastructure will proceed in accordance with and subject to plansand programmes of the Metropolitan Authority subject however to any unforeseencontingencies. Failure to accomplish such plans or non-availability of the infrastructureamenity will not relieve the Lessee of the obligations devolving upon him.

4.9 Though the F.S.I. permissible for commercial use in BKC is 2.00. The plots of land forConvention & Exhibition Centre and Commercial Complex are not being offered fordevelopment with 2.00 FSI but are being offered with fixed built up area as describedbelow:

(i) The Plot of land admeasuring 55,000m2 is designated as Commercial &Exhibition Centre and

(ii) Plot of land admeasuring 20,000m2 is designated as Commercial Complex.The total built up area being made available for Convention & ExhibitionCentre is 65,000 m2 and the total built up area being made available forCommercial Complex is 50,000 m2. The grand total of built up area beingmade available for (i) and (ii) is 1,15,000 m2. In this case the total plot of landis (i) 55,000 m2+ (ii) 20,000 m2 = 75,000 m2 and the total built up area beingmade available in this RFP is 1,15,000 m2 only. Except F.S.I. all otherDevelopment Control Regulations of Bandra Kurla Complex will be have to beadhered to.


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5. CONVENTION & EXHIBITION CENTREAREA SPECIFICATIONS

5.1 The convention & exhibition centre facility is estimated to require approximately51,700 sq.m. of built up area which will be reckoned as 65,000 sq.m. for computationof FSI after accounting for height in excess of 4.20 m. for exhibitions areas. TheConvention & Exhibition Centre facility should have 5 exhibition halls having minimumcolumn less area of 5,000 sq.m. each with average clear height of minimum 12mtr.and the entire area being fully air conditioned.

5.2 Within the convention & exhibition centre a full-fledged auditorium with a minimumcapacity of 2000 fixed seats is to be provided with Simultaneous Interpretation Systems(SIS) and state of the art audio-visual equipment. This facility is to be constructed inaccordance with the international standards and specifications (such as those of OperaConvention Centre at New York, National Conference Centre at Thailand). TheConvention Auditorium may be located on a ground or first / upper level with a suitablyimpressive entry, security and foyer area that may be shared with other facilities withinthe Convention & Exhibition Centre . A list of various activities and functions is given inSchedule -1.


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AREA SPECIFICATIONS FOR THE CONVENTION & EXHIBITION CENTRE

Schedule IList of various activities /functions and their minimum capacity in CONVENTION &EXHIBITION CENTRE

Sr. No. Area / use Units1 Public Areas

General Reception/Entrance Hall/Lobby As perPublic Toilets designTicketing

2 Conv., Conf.& Meeting Facilities Capacity/personsConvention Auditorium (Main) 2000Convention Hall (Multipurpose) 1500Conference Hall-1 300Conference Hall-2 300Conference Hall-3 100Conference Hall-4 100Conference Hall-5 50Conference Hall-6 50Banquet Hall 500Board Rooms (12) various sizes 50-250VVIP Reception Rooms & Lounges 50Theatres - 1 (Made from M'Purpose conf) 50-100Theatres 2 100-200Banquet Kitchens/Stores/ReceivingPre Function AreasCirculation

3 ExhibitionsExhibition HallReception/lobby/toilets/food counters

5 Nos}

Loading/Unloading Area/Storage/Administration }As per DesignCirculation }

4 Food & Beverage (inc.Kitchens) Capacity/personsCoffee Shops 200Cafeteria 150Vegetarian Restaurant 200Speciality Restaurant I 125Speciality Restaurant II 125Bar (2) 200Food Court With Multiple outlets 300Total Meals at a time 1300Circulation As per Design


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AREA SPECIFICATIONS FOR THE C&E CENTRE. Schedule I Contd.

5 Speciality Areas & AdministrationMedia Centre }Public Address & Paging }Business Centre & Secretarial Support }Infirmary/Medical Centre }Administration Offices }Information Booths }As per DesignTelephone Kiosks }Post Office }Changing Rooms for Artists }Simultaneous Transition Studios/Booths }Security Nerve Centre & Related Areas }Circulation }

6 Support Areas/Back of the HouseEmployees Lockers & Facilities }Employees Dining Room & Servicing }Personnel Offices & Related Facilities }Mechanical Plant }Other Engineering Facilities }Linen Rooms & Housekeeping }As per DesignFurniture Storerooms }Miscellaneous storerooms }Receiving area }Warehouse for Precon.Storage/Setup }Circulation }

7 Shops & Offices Nos.Travel Agent/Tour Operation 4PCO/PEO 5Car Rental 2Banks/Curency Exchange 3ATMs 4Stationery Stores 2Florist 1Book Shop 2Courier Service 2Hoteliers Association 1Tourism Office 3Photo Shop 1Airlines Offices 6Chemist 2Circulation

8 Car Parking Basement Car Parking As per DC Rules


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5.3 The area specifications related to various activities / functions given in earlier table aresummarised below for the purpose of computing the built up area to be utilised.

Sr.No. User of Land Area sq.m. Built up areaused in sq.m.

Plot Areasq.m.

1 Exhibition Centre *

5 exhibition halls of minimum 5000sq.m. each

Total Exhibition Space 26600 39900

2 Convention Auditorium ( 2000persons)

3

4

Other convention hall (multipurpose), conference halls, Boardrooms, Reception, Lounges,Circulation etc.

Public Areas

(Sr.no.2+3+4)= 13,300 13,300

5 Food and Beverage (includingkitchen)

6 Speciality areas-media,administration, secretarial support,circulation etc.

7 Support areas/back of the housefacilities, dormitories, Guest rooms,etc.

8 Shop & Offices- Travel agents, touroperators, banks , air line bookingetc. (Sr.

No.5+6+7+8)=11,800 11,800

9 Total Convention & ExhibitionCentre

51,700 65,000

10 Grand Total 65000 55000

All the above areas will be fully air-conditioned

* The height of Exhibition areas being around 12 m. the equivalent FSI is 1.5 times the floor area.

Note For the purposes of computing FSI the Development Control regulations provided in VolumeII will apply. Car parking and areas used for engineering services and storage are permittedfree of FSI. However stairwells and lift shafts are counted in FSI.


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PERMITTED VARIATIONS

5.4 The construction of Convention & Exhibition Centre shall be in accordance with theareas laid down in the area specifications provided in para 5.3. Variations from theseareas to suit architectural layouts and Lessees interpretation of market conditions, arepermitted within the following limits:

1 Exhibition space : refer Sr. No.3in schedule I

5 Exhibition Halls of minimum5000sq.m. each (total 26600sq.m.)

Reduction 0%

Increase No limit2 Convention Auditorium

Refer Sr.no.2 in schedule I(capacity 2000 seats)

___________________________

Other convention facilities

Reduction 0% in seating capacity

Increase No limit.

____________________________________

Reduction up to 15% in number capacity

Increase No limit.3 F&B Facilities : Refer Sr.no.4 in

schedule IReduction up to 15% in number capacity

Increase No limit.

4 Other Facilities : Refer Sr.no.7 inschedule I

Revenue Earning Facilities

Reduction up to 15% in number capacity

Increase No limit.

5 Parking Minimum According to DC RegulationsIncrease No limit

5.5 In addition to the variation in sizes permitted for the different elements, variation shallalso be permitted in configuration of all the suggested facilities if justified forcommercial purposes. It is intended that, in keeping with modern trends and nowavailable technology maximum Multi-purpose uses be made of the spaces availablewithin the Convention & Exhibition Centre .

The implementation of the entire project, drawing up of the detailed layouts, designsand engineering drawings would be undertaken by the selected bidder. It is expectedthat the selected bidder shall meet the minimum area/capacity/ specification laid outby MMRDA. It is envisaged that the developer may build this Convention & ExhibitionCentre with appropriate design and specifications comparable with other internationalConvention Centre.

Out of the plot noC-64 admeasuring 75000 sq.m.(as shown on map at Exhibit 10). The


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successful bidder will have choice to configure at one place the plot admeasuring 55000sq.m., only for the proposed development of Convention & Exhibition Centre providedthat their remains a plot of 20000 sq.m. as a Commercial Complex plot and shall have50000 sq.m. as permissible built up area which can be used for commercial uses suchas Shopping Arcade/Mall, Entertainment facilities including Multiplex, Hotel and/orService Apartments, Commercial Office space, Business Centres, F&B facilities, Health& Sports facilities. This 50,000 sq.m. permissible built up area will have to be consumedin 20,000sq.m. Commercial Centre plot only and transfer of this permissible built up areato Convention & Exhibition Centre plot shall not be permitted under any circumstances.

In the Exhibition Centre the areas of the Exhibition Halls are expected to be of the heightof 12 m. The areas that are more than 4.2mt. in height will have to be calculated at 1.5times for calculating the consumption of total built up areas.

CONSTRUCTION REGULATIONS

5.6 The maximum height from ground level of any buildings within the IFBC has to be aspermitted by Department of Civil Aviation which is currently 40 m.

The ground coverage shall be defined as per the set-backs prescribed for varying heightof buildings and as prescribed by Chief Fire Officer (CFO), BMC. The minimum setbackalong the roads for this site is 12 m.

The Lessee shall provide adequate area for parking in accordance with the provisions ofMMRDA Bandra-Kurla Notified Area Development Control Regulations, 1979 (VolumeII). Car parking spaces at basement, stilt or upper levels are permitted free of FSI.A double basement is also permitted

The successful bidder shall obtain all the necessary permissions required from thestatutory authorities and government organisations.

The total permissible built up area available for development of the Convention &Exhibition Centre facility is 65000 sq.m. as explained in the table given in para 5.3


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above. Additional permissible built up area 50,000 sq.m. is available to the bidder forCommercial development purposes. The total plot area offered to the bidder is 75,000sq.m. It is intended that the Lessee develops the 20,000 sq.m. plot for the CommercialComplex in a way to attract a variety of uses with complementary areas of activity. Inorder to do this a wide range of uses are permitted and complete flexibility allowed onarea allocation to remaining commercial users in this 50,000sq.m. built up area ofCommercial Complex only. An illustrative list of activities is given below:

Multiplex Hotel and Restaurant etc. Shopping Malls F&B Facilities Offices/Business

Centres/Shops/

Health and Sports Facilities

Entertainment Centre

5.7 Subject to the stipulation as given in para 3.14 the Lessee will be permitted as per theprovisions of clause 3(p) of the draft Lease Deed to sub lease or assign his lease-hold rights and interests to a different company without any transfer fee in the firstinstance.


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6. COMMERCIAL CONSIDERATIONS6.1 The selected bidder will be required to pay 100% of the lease premium quoted for

Convention & Exhibition Centre and Commercial Complex within total 3 months fromthe time his bid is accepted. Out of this 50% shall be paid within one month fromthe time his bid is accepted and remaining 50% shall be paid within two monththereafter.

6.2 . The lessee shall be permitted to enter into contractual license or management contractarrangements with suitable parties for any or all of the facilities at market drivencommercial terms.

6.3 Bidders for the development of the Convention & Exhibition Centre facility and theCommercial development may follow the SPV approach. This will enable inclusion ofConsortium partners that have an interest in construction, Convention & ExhibitionCentre operation, Professional Exhibitions Operators & Professional ConventionOperators and other parties with an interest as real estate developers or for specificuses within the development such as Shopping Mall, Entertainment, Hotel, ServiceApartment or Commercial Space.

6.4 Subject to stipulation given in para 3.14 all or any shareholders of the SPV shall bepermitted Exit at any point in time after 20 years from the date of commissioning ofConvention & Exhibition Centre by transferring their equity to a party or parties whomthey shall independently identify and negotiate terms for such transfer. Such transfershall be subject to the approval of MMRDA, which shall not unreasonably bewithheld. MMRDA shall not have any obligation to purchase the equity of any exitingparty in the SPV.

6.5 The property may be mortgaged to providers for debt finance up to the limit of theamount of premium paid to MMRDA, subject to approval of MMRDA as prescribed inthe MMRDA (Disposal of Land) Regulations 1977.

TIME PERIODS

6.6. The Convention & Exhibition Centre is to be built within a period of 4 years from thedate of execution of lease deed and transfer of the site to the winning bidder. Anytime taken more than this 4-year period shall be subject to payment of liquidateddamages for the delay. Payment of liquidated damages will not affect the liabilities ofthe Lessee.

6.7. The bidder will have to construct Convention & Exhibition Centre first and obtainOccupancy Certificate from MMRDA before applying for Occupancy Certificate forCommercial Complex from MMRDA. The construction schedule is as given in thefollowing table :


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Table

Convention & Exhibition Centre(65,000sq.m. total)

Commercial Complex (50,000sq.m. total)

1. Construction upto 25% of the built up areawithin first year

Construction upto 15% of the built up areawithin first year

2. Construction upto 50% of the built up areawithin second year

Construction upto 40% of the built up areawithin second year

3. Construction upto 75% of the built up areawithin third year

Construction upto 65% of the built up areawithin third year

4. Full construction of Convention & ExhibitionCentre within fourth year

95% construction of CommencementCertificate within fourth year

Note : The Convention & Exhibition Centre should be completed before the CommercialComplex and Occupation Certificate of C& EC (65, 000 sq.m.) to be obtained prior torequesting for Occupation certificate of Commercial Complex (50,000 sq.m.).

6.8 The bank guarantee towards liquidated damages shall be for an amount ofRs.20 crores in favour of MMRDA payable in Mumbai who shall have theoption to encash such guarantee at the rate of Rs. 50 lakhs per months delayover the stipulated date, without prejudice to MMRDAs right to recoveradditional liquidated damages.

PROJECT STRUCTURE

6.9 The grant of lease shall be for a period of 80 years. The relationship betweenMMRDA and the successful bidder will be set forth and described under the termsand conditions of the Lease Deed to be entered between MMRDA with the selectedbidder.

6.10 The Lessee will have the option to sell, mortgage or transfer the Commercial Complex(50000 sq.m.) subject to the relevant provisions of clause 3(p) of the Lease Deed.This is subject to the condition that the Lessee shall establish an appropriateindependent management facility to maintain, operate and market the Convention &Exhibition Centre (65000sq.m.) during the lease period to the entire satisfaction ofMetropolitan Commissioner, MMRDA. (Copy of the draft Lease Deed is available inVol-II)

6.11 The Lessee, should they desire, has the option to transfer land, building and all otherassets of the Convention & Exhibition Centre to MMRDA free of any price orpecuniary consideration and free of liabilities of any sort after 20 years from the dateof execution of the Lease Deed by giving a notice in writing of at least one year.


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7. SUBMISSION AND EVALUATION OF BIDS

SUBMISSION OF BIDS

7.1 The submission of Bids by interested parties in response to the Request for Proposalshall be in three separate sealed covers as indicated below.

Cover 1 Compliance to Minimum Eligibility Criteria

7.2 The information to be submitted by the Bidders in Cover 1 of their Bids as describedin this Section.

7.3 The Bidder shall place one (1) original + two (2) copies of the Cover 1 in a sealedenvelope, which shall be inscribed as under:


Submitted by: _________________________(name of Bidder)

Cover 2 Financial Bid

7.4 The Information to be submitted by the Bidders in the Financial Bid (Cover 2) isdescribed in this Section.

7.5 The Bidder shall place original Financial Bid, This document, in a sealed envelope,which shall be inscribed as under:

Cover 2 Financial Bid

Submitted by: _________________________(name of Bidder)

Cover 3 Technical and Business Proposal

7.6 The Information to be submitted by the Bidders in Cover 3 is described in thisSection.

7.7 The Bidder shall place one (1) original + two (2) copies of the information onFinancial, Technical and Managerial Capabilities in a sealed envelope, which shall beinscribed as under:


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Cover 3 Business Proposal

Submitted by: ____________________ (name of Bidder)

Outer envelope

7.8 The 3 covers of the Bid organised as above, shall be placed in a sealed outerenvelope or a box, with the following inscription:

Bid For : Lease of Land for Developing and Operating Convention and ExhibitionCentre and Commercial Complex, in Bandra-Kurla Complex, Mumbai,India

Name of the Bidder : _______________________________________________

ToChief, Town and Country Planning Division

Mumbai Metropolitan Region Development Authority,Bandra-Kurla Complex, Bandra (East), Mumbai 400051

7.9 The Bidder can submit the Bid by registered post/ courier or submit the Bid in person,so as to reach the designated address by the time and date stipulated in Section 1.MMRDA shall not be responsible for any delay in submission of the Bids. Any Bidreceived by MMRDA after the due date and time for submission of the Bids stipulatedin Section 1 shall not be opened.

INITIALLING OF THE BIDS

7.10 Each page of the Bid document should be initialled by the Authorised Representativeand Signatory of the Bidding Company / Bidding Consortium.

RESPONSIVENESS OF BID

7.11 The Bids received will be subject to a responsiveness check followed by a step-wiseevaluation procedure as described below.

7.12 A Bid shall be deemed Non-responsive if it does not satisfy any of the followingconditions:

a) It is not received by the due date specified Section 1.

b) It does not include sufficient information for it to be evaluated and/or is not in theformats specified

c) It is not signed and / or sealed in the manner and to the extent indicated in thissection.

d) It is not accompanied by a Demand Draft of the specified amount of the EarnestMoney .


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EVALUATIONS OF BIDS

7.13 The Bids of Responsive Bidders shall be evaluated in the following three steps.

STEP 1 (COVER 1) COMPLIANCE WITH MINIMUM ELIGIBILITY CRITERIA

7.14 In the first step, MMRDA will evaluate the information submitted by the Bidder inCover 1 of the Bid. Only Bidders meeting the minimum eligibility criteria shall beconsidered for the subsequent steps. The minimum eligibility criteria and the formatfor the information to be submitted in Cover 1 are as described below:

Evaluation of Minimum Eligibility Criteria: Cover 1

7.15 The objective of the minimum eligibility criteria is to shortlist Bidders who have:

a) The financial strengths necessary to contribute and / or arrange the fundsrequired to execute the Project in the desired time frame.

b) The technical skills necessary to design, construct, operate and maintain theFacility as per the Principles of Good Industry Practice and have a project designfrom an Architect who has designed / has been associated with world classConvention Centre project.

c) The commercial skills necessary to market the Facility and successfully developbusiness.

MINIMUM ELIGIBILITY CRITERIA7.16 Eligibility Criteria for Bidding

Corporate entities (public or private limited company registered under TheCompanies Act, 1956 or equivalent International Law) will be eligible to bid for theProject.

7.17 Eligibility Criteria for Financial Capability

The Bidding Company or for a Bidding Consortium, the Lead Consortium Membersatisfying any two out of the three eligibility criteria for financial capability specifiedbelow would be considered as meeting Eligibility Criteria for Financial Capability. Incase of a Bidding Consortium, the Lead Consortium Member shall have the option toaggregate the strengths of its Financially Significant Consortium members. The onusto demonstrate the relationship as Financially Significant Consortium member withthe Bidding Consortium for the purpose of aggregation rests with the LeadConsortium member. The three eligibility criteria are:


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Tangible Networth1 not less than Rs.400 crores as per the latest audited financialstatement. The certificate in effect of tangible net worth from government approvedChartered Account firm should be attached.Annual turnover2 not less than Rs.800 crores as per the latest audited financialstatement.Net Profit3 not less than Rs.100 crores as per the latest audited financial statement orAverage annual net profit of the last three financial years not less than Rs.100 crores.

Eligibility Criteria for Technical Experience7.18 The Bidding Company or for a Bidding Consortium every Financially Significant

Consortium Member, will be required to submit the details of their experienceaccording to the categorisation given below. They will be considered as meetingEligibility Criteria for Experience, if they meet the eligibility criteria for experiencespecified in any one of the categories given below.

7.19 Category "I: In a directly related field of activity (defined as Convention &Exhibition Centres, Hotels, Restaurants, and Banquet Halls)

7.20 The Bidding Company or the Bidding Consortium shall have developed during lastfive years at least one project having Capital Cost not less than Rs.250crores relatedto category 1.

7.21 The turnover of the Bidding Company or a combined turnover of FinanciallySignificant Consortium Members of the Bidding Consortium from the directly relatedfield of activities shall not be less than Rs.1,000crores.

7.22 Category "II" : In an indirectly related field of activity (defined as shoppingcenters, commercial complexes, housing or office complexes, retail stores,entertainment centres, amusement parks and large projects)

7.23 The Bidding Company or the Bidding Consortium shall have developed during lastfive years at least one Project having Capital Cost not less than Rs.300croresrelated to category 2.

7.24 The turnover of the Bidding Company or the combined turnover of the FinanciallySignificant Members of the Bidding Consortium from the directly related field ofactivities shall not be less than Rs 1,200crores.

7.25 Project Design - The Bidding Company or the Bidding Consortium shall submit adetailed conceptual Project design for the proposed Convention & Exhibition Centrefrom an Architect who has designed/has been associated with any of the world classConvention and Exhibition Centre Projects. The design shall be submitted on not lessthan 10 drawings of AO size and also on a CD.

1 Tangible Networth = (Equity Capital + Reserves and Surplus - Revaluation Reserve) - (Accumulated Losses + Intangibleassets)

2 Turnover has been defined as the gross sales of the company net of excise. This does not include other related income andnon-operating income

3 Net Profit = Profit after Tax (PAT)


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7.26 Format for Cover I compliance to minimum eligibility criteria

Bidders are required to organise Cover 1 Compliance with Minimum EligibilityCriteria according to the following checklist:


Section 1 Covering Letter as per the format specified in Exhibit-2

Earnest Money Deposit for an amount of Rs.100,000,000 (Rupees Tencrores) by way of Demand Draft, drawn on any schedule/commercialbank, payable at Mumbai in favour of MMRD Fund.

a) Description of the Bidding Company / Bidding Consortium as per the formatspecified in Exhibit 5

b) In case of a Bidding Consortium, MoU amongst the Consortium Members,incorporating the principles as in Exhibit 1 (If applicable)

Section 2

c) Letters of Acceptance, as per the format specified in Exhibit 4, from each ofthe Consortium Members in case of a Bidding Consortium.

a) Consideration for Evaluation of Minimum Eligibility Criteria as per the formatspecified in Exhibit 6

Section 3

b) Letters of Commitment as per the format specified in Exhibit 3, from each ofthe entities which are Financially Significant Consortium Member, the strengthsof which is to be considered for the purpose of evaluation.

a) Audited Annual Reports for the last three financial years, of which the lastaudited results made available should not be more than 15 months old as onlast date of submission of RFP.

Section 4

b) Information Requirements as per the formats specified

a)A detailed conceptual design of Convention & Exhibition Centre to besubmitted on minimum 10 drawings of AO Size and also on a CD.

Section 5

b)A letter of acceptance from Architect indicating his C.V. and details of hisrelevant experience in the designing of Convention and Exhibition Centreproperly documented, on a hard copy as well as on a CD to be authenticatedby the bidding company/Consortium by a separate letter.

7.27 MMRDA on demand will return unopened Financial Bids and Technical Bids (Covers2 and 3) of the Bidders who do not comply with the minimum eligibility criteria.


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STEP 2 (COVER 2) FINANCIAL BID

7.28 The Financial Bid is to be submitted in the Form of Bid given in Exhibit 8.

The evaluation criteria for assessment of the Financial Bids are as described below:.

OBJECTIVE OF FINANCIAL BID EVALUATION7.29 The objective of the evaluation of Financial bid is to rank the bidders, short listed on

the basis of the evaluation of information as contained in cover 1, on the basis of thebid price quoted by them.

METHODOLOGY FOR EVALUATION OF BIDS7.30 The bidder will have to quote separately for the Convention & Exhibition Centre and

the Commercial Complex. The built-up area (considered for FSI computation) ofConvention & Exhibition Centre shall be considered as 65,000 sq.m. irrespective ofthe reduction that may be possible on finalisation of detailed architectural designs.Similarly the floor space considered for FSI computation for the Commercial Complexwill be 50,000 sq.m. The bidder will have to quote a fixed rate of Rs.20,000 persq.m. of built up area for total built up area 65,000 sq.m. for Convention & ExhibitionCentre. The amount will be Rs.130 crores. The bidder will also have to quote a rateof premium higher than Rs.70,000 per sq.m. of built up area for 50,000 sq.m. of totalbuilt up area for Commercial Complex. The premium amount will be higher thanRs.350 crores. The total minimum amount of lease premium to be quoted by thebidder will be higher than Rs.480 crores of the total amount of lease premium that willbe payable to MMRDA 50% will have to be paid within one month and the balancewill have to be paid within two months i.e. within three months from the time the bid isaccepted. The lease period is of 80 years as is indicated in the M.M.R.D.A. (Disposalof land) Regulation 1977.

7.31 The above quotes shall be submitted by the Bidders in Cover 2 : Financial Bid inaccordance with the Format Enclosed in Exhibit 8

7.32 The bids will be first ranked according to the highest rate and premium quoted for theConvention & Exhibition Centre and Commercial Complex (after correcting thearithmetic errors if any). A ranked list of Bidders based on the results of theevaluation will prepared. The top ranked Bidder will be designated the Rank 1Bidder.


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STEP 3 (COVER 3) - EVALUATION OF TECHNICAL AND BUSINESS PROPOSAL

TECHNICAL & BUSINESS PROPOSAL: EVALUATION CRITERIA7.33 The objective of MMRDA in evaluation of Technical and Business Proposal of the

bidder is to assess the following skills:

Project conceptualisation and design skills that offer the most optimal design solutionfor the proposed Facility.

Project Management Skills that would help expedite the project development phase and ensure timely construction of the Facility

Operation and Maintenance skills, that ensure consistently superior service atreasonable cost.

Specifically, the Business Proposal shall be assessed for technical sufficiency andwill include the following :

7.34 A Detailed Report shall be submitted on the Technical Plan of the bidder, coveringalso the financial plan and his business plan. Report shall also provide plan to meeteach of the item specifications mentioned in the Section 5 & 6. This report shall alsoinclude and be explained in detail a detailed conceptual project design by theArchitect who has designed/has been associated with any of the world classConvention and Exhibition Centre Projects

Financial Plan7.35 The Financial Plan shall include the following;

a) Detailed Project Costb) Project Funding Structurec) Financial Projections d) Estimated Tariffe) Feasibility Analysis with justification of assumptions.

Business proposal evaluation7.36 The evaluation process shall include matters such as:

a) The design and planning of facilities in the C&ECb) Relevant skills and suitability of promotersc) Ability to implementd) Ability to managee) Ability to market

7.37 In evaluating the Business Proposal, MMRDA reserves the right to seek clarificationsfrom the Bidders. The Bidders shall be required to furnish such clarifications.

7.38 The Technical and Business Proposal of only the Rank 1 bidder will be opened. He


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may also be requested to make a presentation at his own cost, for clarifications andadditional information on bidders capability, concept plan and the business proposalin this regard to the evaluation committee appointed by the MetropolitanCommissioner, MMRDA. The Committee may seek further clarifications and makesuggestions in respect of the proposal, within the permitted built-up area, which willnot include any change in the premium or the manner in which it is to be paid. Thesesuggestions will have to be incorporated by the bidder.

7.39 On reaching an agreement with the bidder and the terms and conditions to beincluded in the Lease Deed, the Metropolitan Commissioner shall submit theproposal to the Metropolitan Authority for the allotment of land to the Rank 1 bidder.

7.40 If the bidder and the Committee shall fail to reach a consensus, the Committee will beentitled to open the Technical and the Business Proposal of the bidder ranked nextand repeat the procedure.

Time Table

7.41 MMRDA intends to complete the entire process of bid evaluation and award within aperiod of 180 days starting from the opening of Cover-I. In order to enable MMRDA tomeet the target, Bidders are expected to respond expeditiously to clarifications, ifany, requested during the evaluation process. MMRDA shall adhere to the aboveschedule to the extent possible. MMRDA, however, reserves the right to modify thesame. Intimation to this effect shall be given to all Bidders including request forextending the bid validity if required.


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8. GENERAL INFORMATION TO THE BIDDER

PRE-BID MEETING

8.1 A Pre-bid meeting shall be held to clarify any queries that the Bidders may have.Queries in writing may preferably be sent to MMRDA a week prior to the date of pre-bid conference.

8.2 The minutes of the pre- bid conference incorporating the clarifications will becirculated to all the intending bidders and shall form part of Request for ProposalDocument.

SITE VISIT AND SURVEY

8.3 Bidders may, prior to submitting their Bid for the Project, visit and examine the site ofthe Project and its surroundings at their own expense and obtain and ascertain forthemselves, at their own responsibility, all technical data and other informationnecessary for preparing their Bids including, inter alia, the actual nature andconditions at the site, availability of materials, stores, labour, probable sites for labourcamps, etc. required for the execution of the work over the entire duration of theconstruction period, after taking into account the local conditions, restrictions,obstructions in work, if any, etc.

8.4 For the above purpose, the bidders may approach Mr. Kulkarni, ArchitectT&CP Dn., MMRDA may or may not depute a representative to accompany theBidder. The Bidders shall be responsible for all arrangements and shall release andindemnify MMRDA, and/or its agents from and against all liability in respect thereofand shall be responsible for any personal injury, loss of or damage to property or anyother loss, damage, costs or expenses, however caused, which, but for the exerciseof such permission, would not have arisen.

8.5 The Bidders shall be deemed to have full knowledge of the site, whether physicallyinspected or not.

INSTRUCTIONS TO BIDDERS

8.6 All Bidders shall note the following:

8.7 Bids that are incomplete in any respect or those that are not consistent with therequirements as specified in this Request for Proposal may be considered non-responsive and may be liable for rejection.

8.8 Strict adherence to formats, wherever specified, is required. Non-adherence toformats shall be a ground for declaring the Bid non-responsive.


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8.9 For a Bidding Consortium the Bid submitted by the Consortium should contain signedletters submitted by each of the Consortium Members, stating that the entire Bid hasbeen examined and each key element of the Bid is agreed to, in the format asspecified in Exhibit -4. The Bid shall contain a copy of the MoU entered into betweenthe Consortium Partners, as per the Principles of MoU stated in Exhibit -1. In theabsence of such a MoU, the Bid would be considered and evaluated as one from anindividual company alone, submitting the Bid.

8.10 In case a Consortium is selected, the Lead Consortium Member shall continue toremain the representative of the Consortium and shall be responsible to MMRDA forthe fulfilment of all contractual obligations binding on the Selected Bidder till the SPVis incorporated and the Lease Deed executed with the SPV.

8.11 In case of SPV, MoU of potential SPV shareholders accounting for 74% of theproposed authorised capital will be enclosed. The applicant bidder shall be the LeadConsortium Member designated in the MOU.

8.12 All communication and information should be provided in writing and in the Englishlanguage only.

8.13 The metric system shall be followed for units.

8.14 All communication and information provided shall be legible, and wherever theinformation is given in figures, the same should also be mentioned in words. In caseof conflict between amounts stated in figures and words, the amount stated in wordswill be taken as correct.

8.15 No change in, or supplementary information to a Bid shall be accepted oncesubmitted. However, MMRDA reserves the right to seek additional information fromthe Bidders, if found necessary, during the course of evaluation of the Bid. Non-submission, incomplete submission or delayed submission of such additionalinformation or clarifications sought by MMRDA, may be a ground for rejecting the Bid.

8.16 The Bids shall be evaluated as per the criteria specified in this RFP Document.However, within the broad framework of the evaluation parameters as stated in theRequest for Proposal, MMRDA reserves the right to make modifications to the statedevaluation criteria, which would be uniformly applied to all the Bidders.

8.17 No Consortium Member can propose to be a member of more than one BiddingConsortium for submission of the Bid for the Project.

8.18 The Bidder shall designate one person in case of bidding company and the LeadManager and lead Co(Contact Person and Authorised Representative andSignatory) authorised to represent the Bidder in its dealings with MMRDA. Thisdesignated person shall hold the Power of Attorney and be authorised to perform alltasks including but not limited to providing information, responding to enquiries,entering into contractual commitments on behalf of the Bidder etc. The CoveringLetter submitted by the Bidder shall be signed by the Authorised Signatory and shallbear the stamp of the entity thereof.

8.19 The Bid (and any additional information requested subsequently) shall also bear theinitials of the Authorised Signatory and stamp of the entity thereof on each page of


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the Bid.

8.20 For a Bidding Consortium, no change in the membership of the Consortium, inresponsibilities, or in equity commitments of any Consortium Member whosestrengths are being credited for evaluation, shall be permitted after submission of theBid.

8.21 Further to Bid submission, if at any stage thereafter, a change in the responsibilitiesor membership in the Consortium whose strengths have been credited for evaluationis proposed, it will need to be communicated to MMRDA in writing for its approval.MMRDA reserves the right to reject such requests for a change of Consortiumstructure, if in its opinion; it would adversely affect the strengths of such Consortiumas originally evaluated.

8.22 In any case, notwithstanding the above, the Lead Consortium Member, in case ofBidding Consortium, shall not be allowed to change its equity contribution in theConsortium if it results in its equity holding becoming

(i) Less than 26%

(ii) Less than the equity holding of any other Consortium Member in the BiddingConsortium.

(iii) MMRDA also reserves the overriding right to reject any Bid pursuant to anychange in the composition of the Bidding Consortium without ascribing anyreasons whatsoever.

(iv) MMRDA reserves the right to reject any or all of the Bids without assigningany reason whatsoever.

(v) Mere submission of information does not entitle the Bidder to meet aneligibility criterion. MMRDA reserves the right to vet and verify any or allinformation submitted by the Bidder.

(vi) If any claim made or information provided by the Bidder in the Bid or anyinformation provided by the Bidder in response to any subsequent query byMMRDA, is found to be incorrect or is a material misrepresentation of facts,then the Bid will be liable for rejection. Mere clerical errors or bona fidemistakes may be treated as an exception at the sole discretion of MMRDAand if MMRDA is adequately satisfied.

(vii) The Bidder shall be responsible for all the costs associated with thepreparation of the Bid. MMRDA shall not be responsible in any way for suchcosts, regardless of the conduct or outcome of this process.


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VALIDITY OF TERMS OF THE BID

8.23 Each Bid shall indicate that it is a firm and irrevocable offer, and shall remain validand open for a period of not less than 180 days from the last date for submission ofthe Bid. The bid shall be so irrevocable notwithstanding anything conferred in section5 of the Contract Act 1872. Non-adherence to this requirement may be a ground fordeclaring the Bid as non-responsive. However, MMRDA may solicit the Biddersconsent for extension of the period of validity and the Bidder shall agree toreasonably consider such a request. The request and response shall be in writing. ABidder accepting MMRDAs request for extension of validity shall not be permitted tomodify his Bid in any other respect.

FEES AND DEPOSITS TO BE PAID BY THE BIDDERS

Fees for Request For Proposal (RFP) Document

8.24 The Request for Proposal document would be made available to the prospectivebidders on submission of a written request and a demand draft of Rs 25,000(Rupees Twenty Five Thousand only-non refundable) drawn in favour of MMRDFund.

EARNEST MONEY DEPOSIT:

8.25 The Bidder is required to pay Earnest Money Deposit by way of Demand Draft ofRs. 10,000,0000 (Rupees Ten Crores) drawn on any scheduled commercial bank,payable at Mumbai in favour of MMRD Fund.

8.26 The bid, which is not accompanied by the above Earnest Money Deposit, shall berejected by MMRDA as non-responsive.

8.27 The earnest money so deposited shall stand forfeited to MMRDA:

(a) If the Bidder revokes his Bid at any time during the stipulated period or duringmutually agreed extended period of Bid validity.

(b) If the Bidder, within the period of Bid validity, in MMRDAs opinion,

commits a material breach of any of the terms and / or conditions contained inthe RFP Document and / or in subsequent communication from MMRDA in thisregard and / or

fails or refuses to act upon the Letter of allotment (in the event of the allotmentof the plot to it) and/or

fails or refuses to furnish the Commencement Guarantee within the stipulatedtime (viz. 30 days from the issue of the Letter of allotment).


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COMMENCEMENT GUARANTEE

8.28 The Successful Bidder will have to furnish at the time of allotment of plot andexecution of the Lease Deed, the Commencement Guarantee in an agreeable formatfrom a scheduled bank payable in Mumbai, which shall be for an amount equal toRs. 10,000,0000 (Rupees Ten Crores). The Commencement Guarantee shallremain valid till the Zero Date.

COMPLETION GUARANTEE

8.29 The Successful Bidder will be required to submit before issue of the CommencementCertificate by MMRDA in respect of the proposed development, a CompletionGuarantee in the form of a Bank Guarantee in an agreeable format from a scheduledbank payable in Mumbai for an amount of Rs.20crores. The completion Guaranteeshall be required to remain valid from the Zero Date.

SETTLEMENT OF DISPUTE8.30 If there is any dispute or any difference of opinion as to the interpretation of

the terms of this document or anything arising thereon from such dispute ordifference it shall be decided finally by the Metropolitan Commissioner,M.M.R.D.A. and his decision shall be final and binding.


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Tender forms and Exhibits are available in the tender document only

bkc bid.pdf

Documents

exhibition areas

convention auditorium

bandrakurla complex

bandra kurla complex

commercial considerations

project location

mmrda office building

mumbaia plot