Bengaluru development body floats tender to redevelop Indiranagar complex
The Bangalore Development Authority (BDA) has floated tender inviting bids to re-develop the area which would cost Rs 657 crore under PPP model. In the last two years, the BDA had floated tenders for the project but the project still remained on paper.
The BDA would allow private party to construct the building with over 10 floors. It has been floating tenders to ‘develop’ Indiranagar BDA complex land for the last of couple of years but did not receive favorable response from private bidders.
The area unidentified for the development is located 4 km from central business district (CBD). The land owned by the BDA is spread over 6.03 acres. The existing BDA complex is located just 500 meters away from the Metro station.