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MMRDA RELAXES NORMS FOR

mmrdaIn a major climb down, the MMRDA has decided to relax pre-qualified conditions for developers who have evinced interest in construction of the ambitious tower at Wadala. According to the earlier decision, the lead partner needed to have 75% of the net worth and turnover. But the revised condition has brought down the limit to mere 26%. Earlier, one of the eligibility criteria for the developers included that they should have track record of constructing a building of at least 400 meters height in the past five years. This condition has been relaxed to 300 meters, he said. The date for submission of the pre-qualified documents too has been extended till July 31.

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