Omaxe bags DMRC contract for station development

Written by Agencies | Mumbai, August 31: | Updated: Aug 31 2007, 20:05pm hrs
Real estate firm Omaxe Ltd said it has bagged the contract for commercial development of Chawri Bazar Metro Station from Delhi Metro Rail Corporation Ltd (DMRC) for Rs 18.43 crore.

DMRC has floated a tender for the purpose and Omaxe's offer of Rs 25,51,001 per quarter for 1,529 square metre for the work of commercial development of Chawri Bazar Metro Station has been accepted, the company informed the Bombay Stock Exchange.

Total contract amount for the 12-year license period is Rs 18.43 crore considering 20 per cent increase on compounding basis after completion of every three years, it said.