Noida: Noida Authority plans to develop a convention and habitat centre along with a large mixed-use project on 25 acres in Sector 94. The project will include a convention centre, exhibition facilities, retail outlets, offices, a hotel, serviced apartments and residential spaces. Located near Noida Expressway, the site is being positioned as a major entry point for traffic from south Delhi and has been dubbed the ‘Gateway to Noida’ because of its location near Kalindi Kunj.The Authority has issued a request for proposal for the project, which will be developed under the public-private partnership (PPP) model. The estimated cost for the project is around Rs 4,526 crore. As per the proposal, the centre should be completed within 30 months of the award, while the entire development must be completed and operational within seven years. Construction can begin immediately after the award as the sanctioned plan is already in place.Shobha Khuswaha, GM (commercial), Noida Authority, said that a pre-bid meeting is scheduled for Sept 1, and bids must be submitted by Sept 18. Bids will be opened the same day.The development will come up on plots 4 and 5 and will include 18,762 sqm for the convention centre, 29,507 sqm for the habitat centre, 29,507 sqm for the hotel, 65,437 sqm of retail space and 1.10 lakh sqm for offices and serviced apartments. Residential development will account for 1.75 lakh sqm. The project will also have parking capacity for 7,180 car spaces.The project is being developed as a major commercial and mixed-use hub in the heart of the city, aimed at meeting the city’s growing needs. It has been conceived as an architecturally controlled development with spaces for culture, congregation, leisure, entertainment, retail, offices and hospitality. Up to 40% of the total built-up area may be developed as residential space, officials said.Noida Authority expects a total revenue of Rs 6,890 crore from the project after seven years, increasing to Rs 10,324 crore after 10 years and Rs 17,292 crore after 15 years.Under the PPP model, the developer and the Authority will form a special purpose vehicle (SPV) for the project. The developer will be responsible for designing, financing, constructing, operating and maintaining the facilities.Officials said the site is considered strategically important because of its proximity to the Noida Expressway and Okhla Bird Sanctuary metro station. The RFP also proposes an elevated foot overbridge connecting the complex with the existing metro station.
