India, March 6 -- The Brihanmumbai Municipal Corporation's (BMC) nearly century-old employees' gymkhana at Azad Maidan is set to be redeveloped into a citizen-friendly town hall and public space within 28 months.

The BMC's standing committee will on Friday consider awarding the redevelopment contract to M/s D Thakker Construction Pvt Ltd, the lowest bidder among five companies, which quoted Rs.29.30 crore for the project. The civic body had estimated the cost at Rs.44.87 crore.

The British-era structure, known as the Mahangarpalika Krida Bhavan and built in 1926, stands on a 4,719 sq metre plot opposite the BMC headquarters and near the Chhatrapati Shivaji Maharaj Terminus heritage precinct.

Civic officials said the plan is to construc...