We have reached the developers presentation stage that is to be held tomorrow. 3 Developers have been shortlisted in a SGM held on Sept 30. 33 members were present at the meeting. 

We received tenders from 9 bidders which were opened on July 30th, 2025. These were:

1) Keystone Realtors

2) Agami Spaces

3) Supreme Sky Ventures LLP

4) Runwal Developers

5) Narang Realty

6) Mahindra Lifespaces

7) Purvankara

8) J P Infra Realty

9) Ten X Realty

After the PMC gave their technical and commercial analysis, the Managing Committee on 10th August 2025 circulated their shortlist of the 6 bidders:

1) Keystone Realtors

2) Agami Spaces

3) Supreme Sky Ventures LLP

4) Runwal Developers

5) Narang Realty

6) Mahindra Lifespaces

From this why were 3 bidders shortlisted. Why not 2? Why not 4? We were hoping to include Runwal and Mahindra Lifespaces into the shortlist. Unfortunately, both these companies had commercial deviations from the tender agreement. While Runwal upped its offer after a week, by increasing its additional area offer to 85%, it did not change its corpus disbursal and its bank guarantee terms. Mahindra Lifespaces had many technical and commercial deviations. Commercial deviations included corpus of Rs 7,000 and area was not raised from the earlier promised 46% (MOFA). Narang did not show interest in correcting it's deviations.

The MC and the RDC in their discussions were of the view that the top 3 developers with no tender deviations should be shortlisted that is 1) Keystone 2) Agami 3) Supreme. We did have an internal debate whether to include Supreme as its additional area offer was only 60%. But since the developer had agreed to correct all its deviations, we decided to include Supreme in the shortlist. 

We opened the discussion to the General Body on Sept 30 where some members were of the view that we don’t need to include Supreme and can go ahead with two developers. The Hon. Secy explained the rationale behind having Supreme too – 1) We could have a look at their layout and plans as Supreme is known for its premium housing. 2) This could also get us to give competition to the other two in terms of design and planning. 

A show of hands voting was done on whether to include Supreme in the shortlist. Out of 33 members present, 26 raised their hands for 3 developers to be shortlisted. This included Supreme. So, Supreme remains in the last 3 by the mandate of the general body.

We now move ahead with 1) Keystone 2) Agami 3) Supreme site visits and presentations.