PROJECT INFORMATION MEMORANDUM (PIM) · d. Maharashtra Regional and Town Planning Act, 1966 e....

Commercial Site – Bandra East, Mumbai Project Information Memorandum (PIM) of 21

PROJECT INFORMATION MEMORANDUM (PIM)

January 18, 2017

For

Commercial Development of Railway Land

At

Bandra East, Mumbai

Ministry of Railways

RAIL LAND DEVELOPMENT AUTHORITY (RLDA)

Near Safdarjung Railway Station, Moti Bagh-1 New Delhi – 110021


DISCLAIMER

This Project Information Memorandum (the ‘PIM”) is issued by Rail Land Development Authority

(RLDA) in pursuant to the Notice Inviting Tender vide RLDA/RFP/CD-02 of 2017 Dated 18th January,

2017 to provide interested parties hereof a brief overview of plot of land (the “Site”) and related

information about the prospects for commercial development of the Site on long term lease. The PIM

is being distributed for information purposes only and on condition that it is used for no purpose

other than participation in the tender process. The PIM is not a prospectus or offer or invitation to the

public in relation to the Site.

The PIM does not constitute a recommendation by RLDA or Consultants or any other person to form a

basis for investment. While considering the Site, each bidder should make its own independent

assessment and seek its own professional, financial and legal advice. While the information in the PIM

has been prepared in good faith, it is not and does not purport to be comprehensive or to have been

independently verified and neither RLDA nor any of its officers, employees, advisers or consultants

accept any liability or responsibility for the accuracy, reasonableness or completeness of, or for any

errors, omissions or misstatements, negligent or otherwise, relating to, or makes any representation

or warranty, express or implied, with respect to, the information contained in the PIM or on which the

PIM is based or with respect to any written or oral information made or to be made available to any of

the Bidder or its professional advisers and, so far as permitted by law and except in the case of

fraudulent misrepresentation by the party concerned, any liability therefore is hereby expressly

disclaimed.

The information contained in the PIM is selective and is subject to updating, expansion, revision and

amendment. It does not, and does not purport to, contain all the information that a Bidder may

require. Neither RLDA nor any of its advisers undertakes to provide any Bidder with access to any

additional information or to update the information in the PIM or to correct any inaccuracies therein,

which may become apparent.

The PIM is for use only by the Bidders. The PIM may not be copied, or distributed by any Bidder to

third parties (other than in confidence to that Bidder’s professional advisers) or prospective

consortium members. Under no circumstances should Bidders make contact with officers or

employees of MOR unless invited by the MOR or in accordance with the EOI.


TABLE OF CONTENTS

1. INTRODUCTION 4

2. CITY OVERVIEW & SITE FEATURES 4 – 10

3. PROJECT POTENTIALITY AND ILLUSTRATIVE DEVELOPMENT PLAN 11

ANNEXURE 1: COPY OF NOTIFICATION & LAND USE CHANGE 12 – 13

ANNEXURE 2: COPY OF NOTIFICATION OF ENHANCED FSI 14 – 16

ANNEXURE 3: COPY OF BKC MASTER PLAN 17

ANNEXURE 4: MAHARASHTRA GOVERNMENT LETTER REGARDING CRZ 18 – 19

ANNEXURE 5: COPY OF LAND PLAN AS PER REVENUE RECORD 20

ANNEXURE 6: COPY OF PROPERTY CARD 21


1. INTRODUCTION

The Indian Railways is desirous of commercial development of their land plots in various locations that are

presently lying unused and railway operations are not envisaged on such plots in the foreseeable future. Rail

Land Development Authority (“RLDA”) has been set up by Ministry of Railways for commercial development

of vacant Railway lands, through an amendment to The Railways Act, 1989 (Amendment No.47 of 2005,

published vide Extraordinary Gazette Notification dated 16.9.2005). This amendment essentially contains

the following provisions:

i. A new Chapter (IIA) has been inserted, authorizing setting up of the RLDA, primarily to develop

Railway Land for commercial use for the purpose of generating revenue (required by Railways for

up-gradation/maintenance of its network) by non-tariff measures.

ii. Section 11 of the Railways Act, which empowers the railway administrations to execute various

works required for the purposes of constructing and maintaining a railway has also been amended

to include, vide sub-clause (da), “developing any railway land for commercial use”. As part of this

initiative of Railways, one site at Bandra (East) Mumbai location have been identified in the first

instance.

This PIM provides the relevant information to the Applicant. The Applicant is advised to make an

independent assessment of the project at their end, make site visits and carry out necessary investigations

and due diligence and check the adequacy of the information given in the PIM.

1. CITY OVERVIEW & SITE FEATURES

1.1 City Overview

Mumbai, formerly Bombay, is the capital of the Indian State of Maharashtra and the financial capital of

India. With an estimated population of approx. Twenty million, it is the most populous city in the India.

Mumbai lies on the west coast of India and has a deep natural harbour. The geographical coordinates for

the Mumbai region is 18°58'30"N 72°49'33"E. Mumbai consists of two distinct regions Mumbai city and

Mumbai Suburban.

1.2 Property Details and Key Highlights including Area, Land Use and FAR etc.

Property Details Key Highlights

Location (Site Location Map)

The site is in Bandra East on Western

expressway. This is adjoining BKC (Bandra Kurla Complex) which is the most premium office location in Mumbai.

The Site is located near Bandra Suburban Railway Station and well connected by skywalk from station.

Size of the Property

Area: 10.70 acres (43,302 sqm.)


Site Boundaries

Eastern Side: Indian Oil, HDIL tower,

ONGC, commercial buildings. Western Side: Railway line from Bandra

station. Water Supply pipeline. Northern side: Anant Kanekar Marg i.e.

Station road to Bandra station. Southern side: Western expressway

(Ali Yavar Jung Marg)

Site Contours

The site is fairly levelled and rectangular in

shape. The eastern side adjoins a 40 ft. wide

road belonging to the Slum Rehabilitation

Authority (SRA). Eastern and southern sides

have trunk water pipelines running along the

boundary. Three sides of site also have wide

drains which form part of the site. The area of

the drain is approximately 4000 sq. m in total

(FAR of this area could also be utilized in

subject development).

The site also has three billboards on steel truss

structures that will be removed by railway for

facilitating development on the site.

Accessibility

The site does not enjoy a direct access from the Western expressway at the moment which could be obtained by the selected developer.

The current access roads are:

Anant Kanekar Marg connecting Western Express Highway to Bandra Terminus. The approximate width of this road is 23 meters

Service Road adjoining IOC building. The width of this road is approximately 10.5 m.

The service roads start from Anant Kanekar Marg and ends near the water supply pipe line along the Western Express Highway which would need to be extended for any development on site

Ownership

The land is owned by the Western Railways and RLDA has been entrusted to divest it on a leasehold basis on behalf of Ministry of Railways.


Key Distances

Domestic Airport : 5 Kms

International Airport : 8 Kms

Bandra Junction : 1.2 Kms

Bandra-Worli sea link : 2 Kms

Nariman Point : 20 Kms

BKC : 2 Kms

Bandra Suburban Railway Station : 0.150 kms

Site Layout Plan

Applicable FAR and Land Use

4 (Normal land), 2 (CRZ land)

Mumbai Rail Vikas Corporation (MVRC), who

were dealing with the land earlier, have

already secured land use change from “Railway

Use” to “Commercial” vide Government of

Maharashtra notification vide its Notification

No. BKR -1077/262/CR-79/04/UD-11 dated 5th

October 2004 (Annexure-1) and increase in FSI

from 2 to 4 for commercial use vide its

Notification No. TPB - 4308/645/CR-

125/2008/UD-11 dated 21st August 2008, for

the development on this railway plot. The copy

of the notification is enclosed (Annexure -2).

Same was also incorporated in the Master Plan

of BKC area (Annexure-3).

Sixteen per cent (16%) of the site falls under CRZ and normal FSI of 2 in place of 4 will be applicable (Annexure -4)

(Calculation of built-up area will be subject to applicable deductions as per the Development Control Regulations for Bandra Kurla Notified Area and other applicable laws e.g. “Recreational Green” in Mumbai)

Demarcation

CTS No - 678 Site frontage – 170 m approx. Depth of site – 260 m approx. Land Area Split

Non CRZ land: 84%

CRZ Land: 16%

Area under city drain: 4,000 sq.m approx.

The site is well identified with boundaries from three sides with the Western expressway on the fourth side.

Since this site is part of a larger railway land, sub-division and exact demarcation has not been done yet, but has been designated for commercial office use by MMRDA (Mumbai Metropolitan Regional Development Authority).

Topography

Generally flat land.

Vegetation

Vegetation comprises of grasses and low shrubs.


Urban Land Ceiling Status

Exemption under Section 20 of Urban Land (Ceiling & Regulations Act, 1976).

Land Use

Commercial.

Offered on

80 years lease on as is where is basis.

Right of Way for RLDA’s additional Land adjoining the site

RLDA has an adjacent land area of Approx. 1 hectare (2.5 acres) which adjoins the water supply pipeline on the western side and the Developer will be required to provide a right of way to this land from the proposed land at all times.

Existing developments at site

The site is presently lying vacant with no

encroachment just next to the Bandra (East) railway station. The site has high compound wall so it is very easily identified. There are no encumbrances on the site.

However there are city drain outfalls on three sides on the plot in the form of open concrete drains. These drains have to be continued in any future development on the plot.

Applicable DCR (Development Control Regulations) Norms

The following are the list of regulations and acts, which govern the development control on the subject site:

a. The Bandra Kurla Notified Area – Development Control Regulations, 1979

b. Development Control Regulations for Greater Mumbai, 1991

c. Development Control Regulations for Mumbai Metropolitan Region, 1999

d. Maharashtra Regional and Town Planning Act, 1966

e. Mumbai Metropolitan Region Development Authority Act, 1974

f. Mumbai DCR 2034

Out of the above mentioned regulations and acts, the Bandra-Kurla Notified Area – Development

control Regulations is most important and directly applicable for the subject site.

Adj. Site

Adj. Site


1.3 Background of Land acquisition and legal due diligence of the project site:-

The plot area is approximately 43,302 square meters. The land use is commercial as per the Bandra Kurla

Notified area land use plan.

At present, the ownership of the project site lies with Western railway. Brief background about the land

acquisition and legal due diligence of the project site is given below:

The site was acquired by erstwhile BB & CI Railway under the provisions of the land acquisition act,

1894 which was published in the Bombay Government Gazette on 27.05.1909.

After independence of India, the erstwhile BB & CI Railway was taken over by the Government of

India along with its assets transferred to the western railway, a zonal railway under Ministry of

Railway. The site has been in absolute and uninterrupted possession of Western Railway since the

year 1911 and surrounded by a RCC boundary wall.

Mumbai Rail Vikas Corporation (MVRC), who were dealing with the land earlier, have already

secured land use change from “Railway Use” to “Commercial” vide Govt. of Maharashtra’s

Notification No. BIKR/1077/262/CR-79/04/UD-11 Dt 5th October 2004. The copy of the notification

is placed at Annexure - 1.

The Site was entrusted by the Ministry of Railway, Government of India to RLDA for commercial

development on lease basis on 12.02.2008.

The collector, Mumbai Suburban District instituted an enquiry under Section 20 of the Maharashtra

Land Revenue Court, 1966 and vide its order dated 21.02.2009 directed that the 20,000 sqm of the

site should be recorded in the name of Government of Maharashtra.

The Union of India through the Western Railway preferred an appeal under section 247 of the

Maharashtra Land revenue court 1966 before the Additional Commissioner, Konkan Division,

Mumbai Suburban District against the orders of the Collector dated 21.02.2009. The Additional

Commissioner Konkan Division, Mumbai vide order dated 21.02.2009 and directed the Collector for

fresh enquiry and to decide the claim of land based on the documents in possession of the railway.

The Collector vide order dated 29.04.2011 directed to re-measure the Appeal land as per a village

map made in the year 1892 and a person named Sh. Pradeep Dabholkar also made party in the

matter. The union of India through Western Railway preferred a second appeal under Section 247 of

the Maharashtra Land Revenue Court 1966 against the order before the Additional Commissioner.

The Additional Commissioner vide order dated 01.11.2011 set aside the Collector’s order dated

29.04.2011 and removed the name of Sh. Pradeep Dabholkar as party from the matter. The

Additional Commissioner also directed the Collector to determine the boundaries of the Railway

Land after taking into the consideration the document with the railways and land handed over by

the railways to PWD.

The Collector, Mumbai Suburban District vide order dated 31.12.2011 ordered the City Survey

Officer, Bandra to determine the subject land based on a plan bearing M.R. No. 833/91 and to issue

a separate P.R. card in the name of Railway.

After the measurement of the Railway land from Bandra to Santacruz including the site, the City

Survey Officer, Bandra has now issued certified copy of the map no. 847/2013 prepared by revenue

authorities as per the orders of Hon’ble Revenue Minister, Govt. of Maharashtra dated 29.11.2012

(a part of the map showing the site is shown in Annexure -5). “The Western Railway has received a

property card no. 678 for the site” as per this map. The site is part of the land in this property card

having total area of 199364 sqm (a copy of property card is provided in Annexure - 6)


1.4 Site Photographs

Along the Service Road and Bandra Skywalk (East side)

Site View (inside site)


Along the Anant Kanekar Marg (North Side)

Along Western Expressway (South Side)


2. PROJECT POTENTIALITY AND ILLUSTRATIVE DEVELOPMENT PLAN

a. Potentiality:

Strength:

The very location of the site as it is a rare vacant plot with huge frontage along the Western

Express Highway.

Easy accessibility to Airport, Bandra, Mumbai VT and Mumbai Central terminal stations and

Bandra, Mahim and Kurla suburban stations.

Skywalks envelope and land at the site from two sides and connects it to Bandra Railway Station

and BKC.

Project Land in Possession with clear title, Free from encumbrance/un-authorized construction

Change of Land Use (CLU) – completed.

Land Area and FAR - well known and prescribed in the document, for ready reference to bidders.

RLDA does not constrain the developer from constructing other commercial developments like

hotel, retail etc. apart from office spaces.

Land has the largest development potential in BKC and vibrant surrounding area.

MMRDA lands are for specific commercial purposes. No restriction applies to this land as long as

end use is “commercial”.

Opportunity:

Site is located next to the western expressway and adjoining BKC which makes the site highly

attractive for business space development.

BKC does not have a commercial site as large and thus can accommodate a development with

high quality social & physical amenities on ground.

There is a serious opportunity to create one of the largest, integrated high quality business

space developments in Mumbai and also price it at a meaningful arbitrage to other premium

BKC developments.

This site has potential to provide immense visibility to the developer who bags the project.

RLDA attracts serious and well entrenched developers by adopting innovative payment

mechanisms.

b. Applicable Development Control Regulations

The Applicant should consider the applicable DCR norms of Mumbai, as may be applicable, in determining the total development potential of the subject site. Since these development controls either limit or enhance the total project development potential, they have a direct material impact on the land values too. Therefore a diligent consideration of applicable guidelines becomes paramount, especially in a high priced premium development location like BKC where any incremental space potential inordinately influences the land pricing and therefore the Applicants are required to make their own due diligence for project potential.

The effective FSI is based on the total land area, area under CRZ, FSI for normal land and FSI for land under

CRZ and Recreational Ground requirements. Any change in any of these factors may result in variance in FSI

and development potential and hence land values too.

c. Site Development Potential and Options

Suggested development

Anchor Development “Grade – A” Office Development

Other potential

development

High end retail, amenity retail for office Hotel/Serviced Apartment Integrated office, retail mall, and hotel development

12

Project Information Memorandum (PIM)

ANNEXURE 1: COPY OF NOTIFICATION & LAND USE CHANGE

13


14


ANNEXURE 2: COPY OF NOTIFICATION OF ENHANCED FSI

15


16


17


ANNEXURE 3: COPY OF BKC Master Plan – Showing the Land Use and FSI

18


ANNEXURE 4: MAHARASHTRA GOVERNMENT LETTER REGARDING CRZ

19


20


Annexure 5:- Copy of Land Plan of Site (as per Revenue Records)

21


Annexure 6:- Copy of Property Card

PROJECT INFORMATION MEMORANDUM (PIM) · d. Maharashtra Regional and Town Planning Act, 1966 e....

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