State Bank of India is planning bulk acquisition of 200 2 BHK apartments in Mumbai for £ 294

SBI intends to buy 200 apartments in Mumbai for £ 294 crore in Mumbai, which developers must meet strict criteria. Bidders will be evaluated using a Techno Commercial Score System of 60:40. In addition to the 200 residential units, SBI’s purchase plan is also the acquisition of the acquisition of 400 parking spaces in total, which consists of 200 dedicated parking spaces and 200 two-wheel parking slots. (Reuters) The State Bank of India (SBI) is planning a significant bulk purchase of 200 ready-to-move-in-two-bedroom hall (2BHK) for the Mumbobo Metropolitan (MMRHK) for the Mumbai Metropolitan (MMMR) for the flats over the Mumbai metropolitan (MMMR) for the flats over the flats Mumbai metropolitan (MMMR) for the flats over the Mumbai Metropolitan (MMRH). His staff. This large acquisition is valued at around £ 294 crore, excluding statutory tax. According to the documentation released on October 7, the lender issued a tender inviting developers to submit bids for units in four specific property groups. The bank intends to buy 50 units in each of the identified groups. For the central suburbs, it earmarked £ 84 (excluding tax) for the acquisition of 50 2 bedroom apartments. In the western suburbs, the estimated cost for 50 similar units is £ 108 (excluding tax), according to the tender document. For the Thane -Kalyan region, the lender set aside £ 54, while the estimated award for the Kharghar -Panvel region stands at £ 48 crore. Unit requirements Each apartment must have a Maharera carpet surface of about 55.74 square meters. (600 square meters). •- The properties must be less than five years old. Acquisition rules • The tender explains strict criteria for the participation of developers and the properties themselves. Registration and approvals Only projects registered with the Maharashtra Real Estate Regulatory Authority (Maharera) are eligible to bid. Of great importance is that the apartments should be ready to deal with all the necessary regulatory approvals and occupancy certificates (OCs) that are already in place. Timeframe developers must hand over the completed apartments to the bank within 180 days of the agreement. The entire transaction is expected to be finalized within six months of issuing the intent (LOI). Ownership and title preference are given to projects under a single ownership with clear and marketable titles. To ensure a direct agreement, brokers and intermediaries are strictly prohibited from participating in the bid process. This extensive evaluation will assess various factors, including technical (60%) and financial (40%) aspects.