Mumbai: Sayba Spaces Emerges Top Bidder For Taximen’s Colony Redevelopment In Kurla, Offers 36-Month Rent Upfront
· Free Press Journal
Mumbai, April 25: Sayba Spaces, which is in the forefront of bagging the redevelopment project of the Bombay Taximen's Colony in Kurla (West), has stated it emerged as the top bidder "purely on merits."
The colony, spread over 8.5 acres, consists of 29 buildings with 656 flats and 30 shops, and several real estate giants had evinced interest in the redevelopment of this prime property on LBS Marg, Kurla.
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The Bombay Taximen's Cooperative Society has convened a special meeting of the general body on Sunday to endorse the managing committee's decision to assign the redevelopment project to Sayba.
Company claims merit-based selection
A spokesperson for Sayba said the company had "fulfilled the highest number of legal, financial and technical criteria of the tender and its bid was unconditional." Two other bids were conditional on the clearance of land-related litigation.
The company has also offered 36 months' rent in one cheque on vacating the flats, while others offered for 12 months. Also, the highest free additional area offered was 102%, and construction was to be completed in 36 months. Sayba also offered to split the apartments as per the request of the flat owners.
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The spokesperson said the company was not a newcomer to the real estate business. "We are in the business for the past 15 years, having completed 28 projects and delivered 3,600 homes with a total built-up area of 3.85 million sq ft, and 2.17 million sq ft was in the pipeline," he added.
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