TENDERING

A second step to redevelopment would be of Tendering. Every building redevlopment should practice a fair and transparent tendering process for selection of developer. It is the key to be keep all the bidders on the same page.

But before laying the foundation for tendering process all the essential documents and needed information to form a part as tendering documents should be assembled in place. This will help the society to be in a preferable position to know the actual potential of their plot and thus comprehend their share in the profits to be earned by the developer. It could be in the form of additional incentive areas and or corpus amount which members are entitled to.

The annexures which would be instrumental alongwith tender document, development agreement could be listed as below.

• The carpet areas list– this list made and agreed by all society members should enlist all flat owners with their corresponding carpet area. Either it has to be evaluated from Old Occupation plans (on which later fungible is calculated) or it has to be measured by a licensed surveyor as on occupied basis. And obviously the society should agree to it.
• Area of the Plot – Plot Area has to be verified by conducting a table survey & tallied with the latest property card and conveyance deed.
• Physical attributes of site have to be taken into account by members. That is whether land in possession is totally in their custody or any kind of encroachment, hutments etc. are on site which needs to be brought to notice of the bidder.
• Civil Aviation- This needs to be extracted by society to ensure the height required for the future development especially vital in areas close to airport like Vile Parle. This will leave no space for assumption with respect to permissible height.
• Amenities– Common amenities for the property users, material specification and make of all the utilities to provide in common usable areas such as surrounding parking, sit outs, society, passages to be enlisted.
• Apart from all above, old occupation plans, PRC, DP Remarks should also be part of the tender.
• The Financial bid what you as members are contemplating will also form part of tender.

The Validity of any tender is equally crucial as the members may take too long in selecting developers. It may range from 3 to 6 months as market keeps fluctuating. Once tenders are submitted the society with the help from PMC should comparatively analyse the bids with respect to the offers made and capability of the bidders.

The number of tenders sold does not suggest the lucrative of the project. The actual tenders submitted after analysing the project data are the responses of the project in revealing their prospective developers.

Tender is concluded on finalization of a developer. The members of society have all rights reserved in selection or rejection of any developers.

Tendering is tedious & lengthy process and it is the PMC’s job to guide the members through.

Tendering will be the deciding factor of the fate of the expansion of any project and the developer should be the apex of attaining the objective for a process which is called Development or Redevelopment.

Ar. Rashmi Phulkar (Practicing architect, Vile Parle EAST)