The Tata Projects Ltd has won the bid to construct the new Parliament building at a cost of Rs 861.90 crore, several media outlets reported on Wednesday, citing officials. Tata Projects Ltd pipped Larsen and Toubro Limited that had submitted a bid of Rs 865 crore.
The Central Public Works Department opened the financial bids for the construction of a new Parliament building on Wednesday. The government civic body had estimated a cost of Rs 940 crore for the project, which is likely to be completed in a year.
The new building is said to be designed as a triangle. The current one, built during the British-era, is circular.
The new Parliament building is part of the Centre’s Central Vista project. It had been challenged in the Supreme Court while Opposition have also raised questions. The government has justified its decision to build a new Parliament building by saying that current one was “showing signs of distress and over-use”.
The Central Vista is an iconic three-km stretch in the heart of New Delhi that runs from the Rashtrapati Bhavan to India Gate. Flanked by large green spaces and containing significant structures such as Parliament, the Secretariat buildings and the National Archives, it is recognised around the world as a striking example of innovative urban planning and architecture.
Gujarat-based company HCP Design, Planning and Management Private Limited won the contract in October to revamp the Central Vista and Parliament. On March 20, the Centre notified the change in land use for the project.