Final bids for Lavasa project last hope for residents
Real Estate

Final bids for Lavasa project last hope for residents

Lavasa residents eagerly look towards the final bids by two resolution applicants, hoping for a revival of the inordinately delayed residential hill station project.

The deadline to submit the bids was 14 September. Madhav Dhir and Darwin Platform Group are the two resolution applicants and offered a two-part payment system, offering the same upfront amount then phased disbursal of value in 3 to 7 years. The actual payment dues are nearly Rs 8,000 crore.

The Committee of Creditors (CoC) are to finalise the process through subsequent meetings by October. The Lavasa citizens told the media that they hoped for two bidders, allowing them to take over the project.

According to a citizen who sent a letter to the state government and Centre, said that the state government should also intervene. The citizens want to ensure that the project does not go into the liquidation process.

The hill station citizens wished that the bidder should agree with the lender's request and provide an unconditional plan for the project to be taken forward. With the first meeting of the CoC, a citizen said that there would be more meetings before selecting the final applicant.

In May, the citizens sent a letter to CM Uddhav Thackeray, mentioning that for 34 months, Lavasa did not approach the National Company Law Tribunal, but no decision has been taken for the project. The citizens also went to the Prime Minister's Office (PMO).

Image Source


Also read: Creditors of Lavasa township receive two new bidders

Lavasa residents eagerly look towards the final bids by two resolution applicants, hoping for a revival of the inordinately delayed residential hill station project. The deadline to submit the bids was 14 September. Madhav Dhir and Darwin Platform Group are the two resolution applicants and offered a two-part payment system, offering the same upfront amount then phased disbursal of value in 3 to 7 years. The actual payment dues are nearly Rs 8,000 crore. The Committee of Creditors (CoC) are to finalise the process through subsequent meetings by October. The Lavasa citizens told the media that they hoped for two bidders, allowing them to take over the project. According to a citizen who sent a letter to the state government and Centre, said that the state government should also intervene. The citizens want to ensure that the project does not go into the liquidation process. The hill station citizens wished that the bidder should agree with the lender's request and provide an unconditional plan for the project to be taken forward. With the first meeting of the CoC, a citizen said that there would be more meetings before selecting the final applicant. In May, the citizens sent a letter to CM Uddhav Thackeray, mentioning that for 34 months, Lavasa did not approach the National Company Law Tribunal, but no decision has been taken for the project. The citizens also went to the Prime Minister's Office (PMO). Image SourceAlso read: Creditors of Lavasa township receive two new bidders

Next Story
Infrastructure Urban

Designing Tomorrow: Amaravati’s Net Zero Landmark

Amaravati has achieved a defining landmark in India’s sustainable infrastructure journey with the inauguration of the APCRDA Project Office, the nation’s first government building to earn the IGBC Net Zero Energy Rating – Design Stage. Conceptualised by the Andhra Pradesh Capital Region Development Authority (APCRDA) and certified by the Indian Green Building Council (IGBC), the project exemplifies how governance, design and innovation can converge to deliver measurable environmental impact.A vision rooted in sustainabilitySet within a 4.3-acre site along the Seed Access Road in the Amar..

Next Story
Real Estate

Pidilite Elevates Construction with PPS

Pidilite Industries introduced Pidilite Professional Solutions (PPS) — a dedicated vertical for the construction and interiors ecosystem — at ACETECH Bengaluru 2025. Designed to empower architects, developers, contractors, and interior specialists, PPS delivers comprehensive support that extends far beyond products to ensure project excellence from concept to completion. Kavinder Singh, Joint Managing Director, Pidilite Industries, noted, “At Pidilite, we believe in enabling the construction fraternity to build boldly and sustainably. With Pidilite Professional Solutions (PPS),..

Next Story
Infrastructure Transport

Punjab, Centre Fast-Track Rajpura-Mohali Rail Line Development

The central government has fast-tracked the construction of the Rajpura-Mohali rail line to enhance connectivity in Punjab. This ambitious infrastructure project, aimed at improving transportation links between Rajpura and Mohali, has been identified as a key step in fostering regional economic growth. Union Minister for Railways, Ashwini Vaishnaw, announced the project’s acceleration during a recent assessment of the area. The rail line is expected to play a significant role in reducing travel time, promoting industrial growth, and boosting logistics efficiency in the region. The project,..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?