No payment will be made to the participants at Stage 1.
An equal honorarium of Rs. 5,00,000 will be paid to each of the five teams shortlisted to take part in Stage 2 including the eventual winner.
The honorarium payment will be made to the lead organisation in each team and will only be released on delivery of compliant Stage 2 submissions. Compliance will be determined by members of the jury panel.
The winning entry will be awarded a prize of Rs. 50,00,000. If elements of the winning design can be used in the final commission, a comparable amount of this prize will be adjusted against the contract fee in the future.
The winner shall be paid the professional fees based on the cost estimates and negotiated for consolidated percentage of fees.
Kindly note that the cost estimates submitted shall be examined interdepartmentally by the MMRDA.