The new parliament building will be constructed by Tata Projects Limited at a cost of ₹ 861.90 crores, officials said.
The Tatas beat Larsen and Toubro, who had submitted a bid of ₹ 865 crores. The Central Public Works Department opened the financial bids for the construction of a new parliament building. The project is likely to be completed in a year. The government civic body had estimated a cost of ₹ 940 crores.
The new building is said to be designed as a triangle. It will be built close to the existing complex, say officials, on what is described as "Plot Number 118" of the Parliament House Estate. The current parliament building, built during the British era, is circular and is one of India's most acclaimed monuments. The building would be used for other purposes after it is repaired and renovated, say officials. Its construction began in 1921 and was completed six years later. Two floors were added in 1956 because of the demand for space.
Earlier this year, the government had justified its decision to build a new parliament building saying the current structure was "showing signs of distress and over-use". Also, the Lok Sabha was likely to have more numbers after a reorganization of constituencies, and the current building had no space for an extra member in the house, the government said in response to opposition questions.
The new parliament building is part of the center's central vista beautification project that has provoked opposition protests and has also been challenged in court. In January, Lok Sabha Speaker Om Birla had said that in 2022, when the country celebrates 75 years of Independence, sessions would be held in the new building.