A transaction advisor for the Thirumazhisai satellite township is likely to be appointed by the month-end.
The advisor will be given three months to prepare a feasibility report. The advisor will recommend the bid parameter and help with the bid process management. The project will be implemented through the Public-Private Partnership mode.
A high-level committee, headed by the Chief Secretary, will approve the mode of development, bid parameters, qualification for the bidder and specific mode of implementation on the basis of findings of the feasibility study to be undertaken by the transaction advisor.
A Government Order issued by the Housing and Urban Development Department last week said that 12,000 residential flats for various groups would be built as part of the proposed township. An extent of 311.05 acres had been earmarked at Chembarampakkam, Kuthampakkam, Parvatharajapuram, Narasingapuram and Vellavedu near Thirumazhisai.
It has been proposed that the expenditure towards procurement of land from private landowners and land to be alienated from the government for laying approach roads and expenditure towards the proposed development work will be met from the Tamil Nadu Housing Board funds. The expenses, which will be booked under the project cost, will be realised from prospective buyers.
The government has also issued orders, sanctioning reconstruction of flats in the Board's rental quarters in CIT Nagar and Mandaveli. The number of flats to be built in CIT Nagar is 474 and in Mandaveli, 50 flats.
Besides, it has approved the construction of 554 flats in Ashok Nagar. The flats will be in a multi-storeyed structure with 11 floors.
The proposal for the construction of multi-storeyed commercial complex on about 4.3 acres and another similar structure for residential flats over 1.3 acres, all in the South Asian Federation Games Village at Koyambedu, has also been approved under the PPP mode.
