Noida seeks developer for ₹4,526cr convention, habitat centre in Sec 94

The Noida authority has completed the formalities to begin work on its proposed convention and habitat centre in Sector 94 and issued a request for proposal (RFP) to select a private developer for the ₹4,526-crore project, officials said on Monday

The Noida authority has completed the formalities to begin work on its proposed convention and habitat centre in Sector 94 and issued a request for proposal (RFP) to select a private developer for the ₹4,526-crore project, officials said on Monday.

Shobha Khuswaha, general manager (commercial), Noida Authority, said the pre-bid meeting is scheduled for September 1, while bids must be submitted by September 18. (HT Archive)

Located near the Noida-Greater Noida Expressway, the 25-acre project has been conceived as a mixed-use commercial and cultural hub and a “Gateway to Noida”. It will bring together convention and exhibition facilities, retail outlets, offices, hospitality, serviced apartments and residential spaces.

“This facility will be developed on the public-private partnership (PPP) model. The project will comprise a state-of-the-art convention centre, exhibition facilities, retail outlets, offices, a hotel, serviced apartments and residential spaces,” said SP Singh, general manager, Noida Authority.

The convention centre is required to be completed within 30 months of the award of the project, while the entire development is to be completed and operational within seven years. Construction can begin immediately after the developer is selected as the layout and building plan have already been approved.

Residential development will account for 1.75 lakh square metres, with residential use capped at 40% of the total built-up area. The complex will also have parking capacity for 7,180 cars.

The authority plans to develop the project as a major commercial and mixed-use hub in the city, with spaces for culture, congregation, leisure, entertainment, retail, offices and hospitality. The development has been conceived as an architecturally controlled project.

Under the PPP model, a special purpose vehicle (SPV) will be formed by the Noida Authority and the selected developer. The developer will be responsible for designing, financing, constructing, operating and maintaining the facilities.

The authority’s financial projections estimate total revenue of ₹6,890 crore after seven years, rising to ₹10,324 crore after 10 years and ₹17,292 crore after 15 years.

The site is considered strategically important because of its proximity to the Noida-Greater Noida Expressway and the Okhla Bird Sanctuary Metro station. The RFP also proposes an elevated foot overbridge connecting the complex with the existing metro station.

Shobha Khuswaha, general manager (commercial), Noida Authority, said the pre-bid meeting is scheduled for September 1, while bids must be submitted by September 18. The bids will be opened on the same day.