MADC Invites Bids for 5-Star Hotel Plot Near Shirdi Airport

The Maharashtra Airport Development Company Ltd (MADC) has invited bids to lease a 3.70-acre plot near Shirdi International Airport.

The plot is meant for a five-star hotel. The land spans around 14,973 sq m. It will be offered on a 49-year lease. The minimum lease premium is fixed at Rs 3,000 per sq m.

This translates to around Rs 4.49 crore for the entire plot, according to the tender document.

Shirdi is a major religious destination in Maharashtra. It is known for the Sai Baba temple, which attracts over 2 crore devotees from across India and abroad.

About the Plot

The tender is for a plot located outside the airport area, in a mixed-use zone. MADC is a Maharashtra government undertaking.

It is the nodal agency for airport and aviation infrastructure development in the state. MADC has earmarked two plots totalling nearly four acres for the proposed hotel. The tender specifies 3.70 acres.

What the Bidder Must Build

The successful bidder must develop a minimum 100-room five-star hotel. It must include a convention centre or business centre with conference facilities.

Other desirable facilities include a meditation, yoga, or naturopathy centre. Service apartments and a multi-facility gymnasium are also listed.

The developer can propose additional components, subject to MADC approval.

The basic permissible floor space index for the plot is 1.5. The bidder must obtain the necessary height clearance from the Directorate General of Civil Aviation, the Airports Authority of India, or another competent authority.

Also Read: Indore Aerocity Planned Near Airport With ₹600 Crore Target

Lease Terms

• Lease tenure: 49 years, extendable by another 49 years, subject to MADC policy and board approval
• Lock-in period: 15 years
• Annual lease rent: 5 percent of the total lease premium in year one, with 5 percent compounded annual escalation
• Performance security: Rs 1 crore
• Earnest money deposit: Rs 50 lakh

The developer must complete at least 25 percent of the permissible FSI. The hotel must be operationalised within four years of obtaining an occupancy certificate.

Bidder Eligibility

Bidders must have experience developing and operating a star-category hotel with at least 150 keys.

They must also have a minimum turnover of Rs 200 crore during the last three financial years.

Also Read: YEIDA Launches Housing and Hotel Plots Near Noida Airport

Footfalls in Shirdi

The tender document notes that Shirdi has an approximate floating population of 1 lakh per day. This rises to 1.3-1.5 lakh during weekends and festivals.

The airport began operations on October 1, 2017. It currently has air connectivity with Delhi, Hyderabad, Chennai, Bengaluru, Indore, and Ahmedabad. Night landing operations began in March 2024.

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