About DKS Construction
Development of Multi-Storey Parking-Cum-Commercial Complex at Mandi.
The project is for the Development of Multi-Story Parking-Cum-Commercial Complex at Mandi on the land measuring 4,509 Sqr. Mtrs. (05-11-12 Bighas), on PPP Mode. The SPV (Special Purpose Vehicle) executing the project, M/S U-Mall Private Limited, a limited liability company promoted by M/S Dinesh Kumar Sharma Constructions Private Limited (74% shareholding) & Dinesh Kumar Sharma (Individual, 26%shareholding).
M/S U-Mall Private Limited is responsible for designing, developing, engineering, financing, procurement, construction, operation, and maintenance of the Project under and in accordance with the provisions of the agreement (the “Concession Agreement”) entered into between the Concessionaire (M/s U-Mall Pvt Ltd) and the Authority {The Municipal Corporation, Mandi, represented by its Commissioner (the “Authority”)}in the form provided by HPIDB as part of the Bidding Documents.
The Concession Agreement sets forth the detailed terms and conditions for the grant of concession to the Concessionaire, including the scope of the Concessionaire’s services and obligations (the “Concession”). The period of Concession is 30 years (the “Concession Period”), plus a 10-year extension, which is inclusive of a Construction Period of 24 (twenty-four) months for construction/ development and commissioning of the Multistory Parking-cum-Commercial Complex. The concessionaire shall pay to the authority the Annual Concession Fee, which, for the first year, is Rs. 63,63,000/- (Rupees Sixty-Three Lakhs Sixty-Three Thousand only) and shall escalate at the rate of 10% (ten percent) over the previous value (of applicable Concession Fee) at the end of each block of 24 (twenty-four)months reckoned from COD. The Annual Concession Fee shall be payable in advance to the Authority along with GST and any other taxes as applicable on the amount of Annual Concession Fee, whether payable by the Concessionaire or the Authority.