1. Home
  2. Infrastructure Urban
  3. ECONOMY & POLICY
  4. New contractor takes over Topiwala Market revamp in Mumbai
New contractor takes over Topiwala Market revamp in Mumbai
ECONOMY & POLICY

New contractor takes over Topiwala Market revamp in Mumbai

10 May 2024 2 Min Read CW Team
The BMC is in the process of appointing a new contractor to resume and complete the long-stalled redevelopment project of Topiwala market in Goregaon West, which has been dormant for the past six years. It was stated that the project, originally budgeted at Rs 1.31 billion, had seen its costs escalate to Rs 1.66 billion due to various delays.

It was initiated in 2019, with the redevelopment aiming to transform the market into a 16-storey building featuring a civic theatre for 800 people and municipal staff quarters. Demolition of the old market building, which accommodated 265 licensees and a theatre, took place in 2018 to pave the way for the redevelopment. Progress was significantly impacted by the Covid-19 pandemic, with work resuming only in 2022.

It was reported that the original contractor?s term expired after completing work on the basement, prompting demands to remove the standard 10% cost escalation cap. However, it was mentioned by a municipal source that this proposal was not approved by civic authorities, leading to the cancellation of the old contract.

Prakash Rasal, assistant municipal commissioner of the BMC?s market department, stated that they had invited a new tender and mentioned that the remaining work would be completed by the new contractor.

An official of the building construction department stated that the project was hit by a pandemic and also a court case filed by the vendors. They mentioned that due to this, the previous contractor had less time to carry out the construction work. It was further informed that there would be a pre-bid meeting for the fresh tenders on May 27 and the contract would be awarded in June. Additionally, it was noted that the material cost had increased from the earlier estimate in the last few years, and the new contractor would get 42 months to complete the work.

Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

The BMC is in the process of appointing a new contractor to resume and complete the long-stalled redevelopment project of Topiwala market in Goregaon West, which has been dormant for the past six years. It was stated that the project, originally budgeted at Rs 1.31 billion, had seen its costs escalate to Rs 1.66 billion due to various delays. It was initiated in 2019, with the redevelopment aiming to transform the market into a 16-storey building featuring a civic theatre for 800 people and municipal staff quarters. Demolition of the old market building, which accommodated 265 licensees and a theatre, took place in 2018 to pave the way for the redevelopment. Progress was significantly impacted by the Covid-19 pandemic, with work resuming only in 2022. It was reported that the original contractor?s term expired after completing work on the basement, prompting demands to remove the standard 10% cost escalation cap. However, it was mentioned by a municipal source that this proposal was not approved by civic authorities, leading to the cancellation of the old contract. Prakash Rasal, assistant municipal commissioner of the BMC?s market department, stated that they had invited a new tender and mentioned that the remaining work would be completed by the new contractor. An official of the building construction department stated that the project was hit by a pandemic and also a court case filed by the vendors. They mentioned that due to this, the previous contractor had less time to carry out the construction work. It was further informed that there would be a pre-bid meeting for the fresh tenders on May 27 and the contract would be awarded in June. Additionally, it was noted that the material cost had increased from the earlier estimate in the last few years, and the new contractor would get 42 months to complete the work.

Next Story
Infrastructure Urban
17 Jan 2025

Bain Capital Invests in Dhoot Transmission Group to Accelerate Growth

Dhoot Transmission Group, a prominent manufacturer of automotive components, has announced a strategic growth investment from Bain Capital. This partnership with founder and CEO Rahul Dhoot will leverage Bain Capital's automotive expertise to drive innovation, expand global reach, and explore high-growth segments through acquisitions and partnerships.Founded in 1999, Dhoot Transmission Group specializes in manufacturing wiring harnesses for two-wheelers, three-wheelers, and other vehicles, including both internal combustion engine (ICE) and electric vehicle (EV) segments. The company has diver..

Read More
Next Story
Infrastructure Energy
17 Jan 2025

Indian Oil Corp Eyes Sour Crude from Spot Market

Indian Oil Corporation (IOC), the largest oil refiner in India by capacity, is actively seeking to procure high-sulphur crude oil through spot tenders. This marks the company's first initiative to import sour crude oil since March 2022, according to insights shared by trade sources on Thursday. Sour crude, known for its higher sulphur content, is commonly used by complex refineries capable of processing such grades efficiently. In addition to the sour crude tender, IOC has also floated a separate tender for sweet crude oil, a variety with lower sulphur content that typically requires less int..

Read More
Next Story
Infrastructure Urban
17 Jan 2025

Indian Carmakers Gear up for EV Push in 2025 Despite Global Slowdown

Automakers in India are preparing to launch nearly a dozen new electric car models this year, many targeting the premium market. These vehicles are expected to feature extended driving ranges and faster charging capabilities, aimed at attracting consumers amid a global slowdown in demand for electric vehicles (EVs). Electric cars are set to dominate India's five-day auto show in New Delhi starting Friday. The event will showcase models from Vietnamese newcomer VinFast, alongside domestic players such as Maruti Suzuki and Mahindra & Mahindra, as well as international competitors including BYD,..

Read More

Opinion Poll

Question : Which technological advancement do you believe will most transform the real estate industry in the coming years?

Latest updates

Bain Capital Invests in Dhoot Transmission Group to Accelerate Growth
ECONOMY & POLICY
17 Jan 2025

Bain Capital Invests in Dhoot Transmission Group to Accelerate Growth

Indian Oil Corp Eyes Sour Crude from Spot Market
OIL & GAS
17 Jan 2025

Indian Oil Corp Eyes Sour Crude from Spot Market

Indian Carmakers Gear up for EV Push in 2025 Despite Global Slowdown
ECONOMY & POLICY
17 Jan 2025

Indian Carmakers Gear up for EV Push in 2025 Despite Global Slowdown

Welspun Partners with Saudi Aramco to Establish Manufacturing Facility
ECONOMY & POLICY
17 Jan 2025

Welspun Partners with Saudi Aramco to Establish Manufacturing Facility

India's Power Sector Offers Rs 40 Tn Investment Opportunity by 2035
POWER & RENEWABLE ENERGY
17 Jan 2025

India's Power Sector Offers Rs 40 Tn Investment Opportunity by 2035

Maharashtra to Launch One State, One Registration Scheme by April: IGR
Real Estate
17 Jan 2025

Maharashtra to Launch One State, One Registration Scheme by April: IGR

Dream11 Co-Founder Purchases Rs 1.38 Bn Apartment in Malabar Hill
Real Estate
17 Jan 2025

Dream11 Co-Founder Purchases Rs 1.38 Bn Apartment in Malabar Hill

Resolve All Pending Land Partition Cases within Two Months: Mohali ADC
ECONOMY & POLICY
17 Jan 2025

Resolve All Pending Land Partition Cases within Two Months: Mohali ADC

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000