<p>With the virtually choking Central Business District leaving no room for further development, the BMRCL has chosen the fast-developing Baiyappanahalli as the next hub of growth.<br /><br />The Corporation, in its latest initiative, has proposed an ambitious Rs 601.4-crore Commuter Lifestyle Centre project at Baiyappanahalli, which promises to change the complexion and contours of its skyscape in the eastern part of Bangalore.<br /><br />The centre, billed as Bangalore’s newest landmark, will boast of a state-of-the-art multi-faceted convention and exhibition facilities along the lines of India Habitat Centre in the national capital, a three-star 200-room business hotel, a retail hypermart spread over 50,000 sq ft, a 500-capacity performance hall-cum-auditorium for music programmes and other cultural activities.</p>.<p>The project also envisages travelators — walkways equipped with electric cars that will circumnavigate the entire building complex and provide commuters easy access between the Lifestyle Centre and the metro station — the first of its kind in the country.<br /><br />The “ambitious and aspirational project”, for which BMRCL has called for proposal for development through international competitive bidding, will be built on a public-private-partnership basis and on the design-finance-build- operate-transfer model.<br /><br />The centre, to be built on 10.15 acres, will also boast of an exclusive business centre with variable seized meeting/private/conference rooms, corporate/institutional office space, fully serviced corporate guesthouses, multi-cuisine restaurants and coffee shops, multiplexes and an art gallery.<br /><br />Expected to be completed within four years from the date of signing of an agreement, the project will see a special purpose company / vehicle being incorporated / floated for the purpose of implementing and managing it by the preferred bidder.<br /><br />The last date for submission of proposals is December 30, 2011. The selection will be based on a three-envelope system selection process comprising qualification proposal, technical (design) proposal and financial bid provided by the preferred bidder.<br /><br />Among the several guarantees stipulated by the BMRCL to be provided by the preferred bidder include bid security of Rs 5 crore, returnable after signing of agreement, bank guarantees of Rs 20 crore as premium security, Rs 25 crore as construction period performance security, and Rs 5 crore for operations security.<br /><br />Besides several minimum development obligations, the project, entirely of green building concept, will see 40 years of concession period and run on a revenue-sharing basis.<br /></p>
<p>With the virtually choking Central Business District leaving no room for further development, the BMRCL has chosen the fast-developing Baiyappanahalli as the next hub of growth.<br /><br />The Corporation, in its latest initiative, has proposed an ambitious Rs 601.4-crore Commuter Lifestyle Centre project at Baiyappanahalli, which promises to change the complexion and contours of its skyscape in the eastern part of Bangalore.<br /><br />The centre, billed as Bangalore’s newest landmark, will boast of a state-of-the-art multi-faceted convention and exhibition facilities along the lines of India Habitat Centre in the national capital, a three-star 200-room business hotel, a retail hypermart spread over 50,000 sq ft, a 500-capacity performance hall-cum-auditorium for music programmes and other cultural activities.</p>.<p>The project also envisages travelators — walkways equipped with electric cars that will circumnavigate the entire building complex and provide commuters easy access between the Lifestyle Centre and the metro station — the first of its kind in the country.<br /><br />The “ambitious and aspirational project”, for which BMRCL has called for proposal for development through international competitive bidding, will be built on a public-private-partnership basis and on the design-finance-build- operate-transfer model.<br /><br />The centre, to be built on 10.15 acres, will also boast of an exclusive business centre with variable seized meeting/private/conference rooms, corporate/institutional office space, fully serviced corporate guesthouses, multi-cuisine restaurants and coffee shops, multiplexes and an art gallery.<br /><br />Expected to be completed within four years from the date of signing of an agreement, the project will see a special purpose company / vehicle being incorporated / floated for the purpose of implementing and managing it by the preferred bidder.<br /><br />The last date for submission of proposals is December 30, 2011. The selection will be based on a three-envelope system selection process comprising qualification proposal, technical (design) proposal and financial bid provided by the preferred bidder.<br /><br />Among the several guarantees stipulated by the BMRCL to be provided by the preferred bidder include bid security of Rs 5 crore, returnable after signing of agreement, bank guarantees of Rs 20 crore as premium security, Rs 25 crore as construction period performance security, and Rs 5 crore for operations security.<br /><br />Besides several minimum development obligations, the project, entirely of green building concept, will see 40 years of concession period and run on a revenue-sharing basis.<br /></p>
