Development of Eco-Tourism Project at Durgam Cheruvu Hyderabad


The Government of Andhra Pradesh have proposed setting up of an Eco-Tourism Project in an extent of 2,348 Sq. Yds at Durgam Cheruvu, Hyderabad on Build, Operate & Transfer basis under Public Private Partnership Mode in the land belonging to Andhra Pradesh Industrial Infrastructure Corporation Limited (APIIC) that was transferred to YAT&C Department for the purpose of the said project.

An advertisement was issued inviting Expression of Interests (EOIs) on 11-04-2011 under competitive bidding process and received sixteen (16) EOIs were received and after due scrutiny Four (4) out of them were shortlisted and Request for Proposals (RFP) documents were issued.    In response, two proposals were received including M/s. Shri Raviteja Restaurants & Resorts (P) Limited, consortium.    After due evaluation of RFPs, M/s. Shri Raviteja Restaurants and Resorts Private Limited was selected for award of the project.   Accordingly, a Letter of Award (LoA) was issued to the said bidder vide reference 1st read above containing the terms and conditions for award of the project and the said bidder conveyed its consent there for vide reference 2nd read above duly fulfilling the conditions stipulated in the LoA.

After careful examination, the Government hereby award the project of “Eco-Tourism” Project at Durgam Cheruvu, Hyderabad District on Build, Operate and Transfer basis under Public Private Partnership mode to M/s. Shri Raviteja Restaurants and Resorts Private Limited, Consortium.

The following are the salient features of the project:

a) Name of the Project

:

The Eco-Tourism Project
b) Name of the Developer

:

M/s.  Shri  Raviteja  Restaurants  and  Resorts Private Limited and .
c) Extent of Land and Location

:

2,348 Sq.Yrds of land above FTL of Durgam Cheruvu Lake  comprised  in  ‘Two  Parcels’  of  about  1528 Sq.Yrds and 820 Sq.Yrds approx. in Sy.No.64/P of Madhapur (V), Serilingampalli (M), Ranga Reddy District.
d) Project Cost

:

Rs. 6.00 Crores
e) Lease Period

:

33 Years
f) Construction Period

:

12 months
g) Lease Amount

:

The First Year Lease Rent for the project site of 2,348

Square   Yards,   is   Rs.   27,00,200/-   with   annual escalation of 5% over the previous amount.

h) Project    Development    Fee (Non-refundable) paid

:

Rs. 6.00 Lakhs
i) Additional        Development Premium

:

The minimum ADP shall be Rs.18,00,009.00 from the commercial operation date with an holiday period of two years from COD or 3% of annual gross revenue whichever is higher.
j) Project Components

:

•   Entertainment & Amusement Activities

•   Water Sports & Rides

•   Recreational  Sports  &  Simulated  /             Illusionary Boating Models

•   Ethnic Food Court

•   Open-Air Banquet Areas

•   Public Conveniences

•   View Galleries & Decks

•   Landscaping and Parking etc.

k) Bank       Guarantee        for Construction  & development

:

Rs.15.00 Lakhs
l) Implementing Agency

:

Tourism (PMU) Department (YAT&C)

The other terms and conditions shall be as contained in the LoA and also the Lease Agreement and Development & Management Agreement to be executed.

YOUTH ADVANCEMENT, TOURISM AND CULTURE (PMU) DEPARTMENT

G.O.Ms.No. 85 Dated:26-12-2012 Read the following:

 

1. Letter of Award letter No.2526/PMU/EO/2012, dated: 30-11-2012.

2. From M/s. Shri Raviteja Restaurants & Resorts (P) Limited, Hyderabad letter of acceptance vide letter dated: 05-12-2012.

Leave a comment

Your email address will not be published. Required fields are marked *