New contractor takes over Topiwala Market revamp in Mumbai

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.