Development of Convention Centre Project – Jublee Hill Resorts Limited


The developer M/s. Jublee Hill Resorts Limited, Hyderabad vide reference 1st read above has requested for allotment of additional land of 2420 sq. yrds., which is shortfall of original allotment of Acs. 1.50 cents of their project site.

The Government have collected the market value from the Sub-Registrar for calculation of lease rentals which is Rs.40,000/- per sq. yd., and Rs.4.00 Crores per Acre at Survey No.403, Jubilee Hills, Hyderabad and addressed a letter vide reference 2nd read above to the developer M/s. Jublee Hill Resorts Limited, Hyderabad requesting to submit a Detailed Project Report (DPR) showing the details for utilization of 2420 sq. yds., and the revenue to be generated and their offer of additional revenue to Government by taking into consideration of the present market value of the land of Rs.40,000/- per sq. yd., for the fixation of lease rentals.

The developer vide reference 3rd read above has submitted a Detailed Project Report for utilization of 2420 sq. yds., and the same was placed before the Empowered Committee of Ministers Meeting held on 16-06-2011 who have agreed in principle.    After submission of due evaluation report by the consultant M/s. Andhra Pradesh Industrial & Technical Consultancy Organization Limited (APITCO), the Tourism Department has once again placed the matter before the Empowered Committee of Ministers Meet held on 31.10.2012 for setting up of Convention Centre, Banquet Halls and Spa in the above vacant land by M/s. Jublee Hills Resorts Limited, Hyderabad.     The Committee resolved to approve for allotment of additional land on

2420 sq. yds., for setting up of Hotel related facilities including Convention Centre by the developer on Build, Operate and Transfer basis under Public Private Partnership Mode and the lease tenure of this additional land shall be co-terminus with the lease tenure of the land leased for the Hotel Project.

Accordingly, this department has issued Letter of Intent (LoI) duly allotting the land to M/s. Jublee Hill Resorts Limited, Hyderabad vide reference. The developer has submitted their consent vide reference.

After examination, the Government hereby award the project of “Convention Centre” Project in T.S.No.1, Block-C, Ward-9 at Kavuri Hills, Hyderabad District on Build, Operate and Transfer basis under Public Private Partnership mode to M/s. Jublee Hill Resorts Limited, Hyderabad.    The following are the salient features of the project:

a) Name of the Project

:

Convention Centre
b) Name of the Developer

:

M/s. Jublee Hill Resorts Limited, Hyderabad.
c) Extent of Land and Location

:

2420 Sq.Yrds, adjacent to ‘Three Star Hotel Project’ of M/s.Jublee Hill Resorts Limited in T.S.No.1, Block-C, Ward – 9 (Old Sy. No.403), Road No.37, Jubilee Hills, Hyderabad.
d) Cost of the Project

:

Rs. 16.64Crores
e) Lease Period

:

Co-terminus with the original project
f) Construction Period

:

24 months
g) Lease Amount

:

Rs.48,40,000/-  (Rupees  Forty  Eight  Lakhs  Forty Thousands Only) per Annum with 5% escalation over previous year amount.
h) Project    Development    Fee (Non-refundable)

:

A non-refundable one-time ‘Project Development Fee’ of 1% of the proposed project i.e. Rs.16.64 Lakhs   (Rupees   Sixteen   Lakhs   Sixty   Four Thousands only.)
i) Additional Development

Premium

:

The   minimum   ADP   shall   be   Rs.   23,85,000.00 (Rupees Twenty Three Lakhs Eighty Five Thousand  Only)     from  the  3rd    year  onwards, increased annually thereafter, or 3% of annual gross revenue whichever is higher.
j) Basic Project Components

:

Convention Centre, Banquets Halls, Spa and 8 party rooms
k) Bank       Guarantee        for Construction  & development

:

Bank Guarantee for an amount equal to 2.5% of the Project Cost i.e. Rs.41.60 Lakhs.
l) Implementing Agency

:

YAT&C (PMU) Deptt.,

The other terms and conditions shall be as contained in the Letter of Intent (LoI)  and also the Lease Agreement and Development & Management Agreement to be executed, the terms of which have been accepted by M/s. Jublee Hill Resorts Limited, Hyderabad.

G.O.Ms.No. 10 Dated: 11-02-2013Read the following:

1. From M/s. Jublee Hill Resorts Limited, Hyderabad letter dated: 21-12-2010.

2. This department letter No.2123/PMU/EO/2002, dated: 25-05-2011.

3. From M/s. Jublee Hill Resorts Limited, Hyderabad letters dated: 30-05-2011.

4. Letter of Award letter No.2123/PMU/EO/2002, dated: 03-04-2012.

5. From M/s. Jublee Hill Resorts Limited, Hyderabad letter of acceptance vide letter dated: 13-08-2012.

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