New Delhi: NBCC (India) Limited, a Navratna public sector enterprise, has signed Memorandums of Understanding (MoUs) with various departments of the Bihar government to undertake four major redevelopment projects in Patna under Phase-I, involving an estimated investment of around ₹2,000 crore.
The MoUs were signed in the presence of Bihar Chief Minister Samrat Choudhary and NBCC Chairman and Managing Director K. P. Mahadevaswamy, along with senior officials from the state government and the company.
The projects will be implemented on a self-financing model, without requiring any budgetary support from the Bihar government. According to the cabinet note of the state’s Urban Development and Housing Department, the tentative project cost is approximately ₹2,000 crore, excluding GST. Upon completion, the projects are expected to generate around ₹5,152 crore through sale and lease proceeds.
NBCC Patna Redevelopment Projects: Key Financial Details
Under the agreements, NBCC will undertake project management and marketing responsibilities for the four developments.
The financial arrangements include:
- Estimated project cost: Around ₹2,000 crore, excluding GST.
- Expected revenue: Approximately ₹5,152 crore through sale and lease proceeds.
- Project management consultancy (PMC) fee: 6%.
- Marketing fee: 1.25%.
- Funding model: Self-financing, without budgetary support from the Bihar government.
The self-financing model is expected to support project execution through the proceeds generated from the developments.
Read also: NBCC Expands Global Presence with New Australia Office, Targets Infrastructure and EPC Projects
3,331 Residential Units Planned in Patna
Two of the four projects involve the residential redevelopment of Bihar State Housing Board (BSHB) colonies at Sector 5 (TV Tower) and Sector 6 (Bahadurpur) in Patna.
Together, these projects will deliver 3,331 residential units across different income categories, including:
- Economically Weaker Sections (EWS)
- Lower Income Group (LIG)
- Middle Income Group (MIG)
- High Income Group (HIG)
Apart from residential units, the developments will include shopping complexes, gyms, clubhouses, office spaces and other community facilities.
The integrated residential developments are aimed at providing housing along with supporting amenities and commercial facilities.
Bihar to Get Its First IT Tech Park in Patna
The third project involves the development of a modern IT Tech Park at Gardanibagh in Patna for the Department of Information Technology (DIT), Bihar.
The proposed facility will be the first IT Tech Park of its kind in Bihar. It is expected to support the state’s information technology infrastructure and provide space for IT-related activities.
The development forms part of the broader plan to strengthen Patna’s urban and commercial infrastructure.
Hotels and Commercial Spaces Planned on Bailey Road
The fourth project involves the development of hotels and commercial spaces at the Water Resources Department site on Bailey Road in Patna.
The proposed development is expected to add commercial and hospitality infrastructure to the city.
Together, the four projects cover residential redevelopment, IT infrastructure, hospitality and commercial development, forming a major part of NBCC’s Phase-I plan for Patna.
NBCC to Execute Four Projects Under Self-Financing Model
A key feature of the agreements is that the projects will not require direct budgetary support from the Bihar government. Instead, the developments will follow a self-financing model.
With an estimated investment of around ₹2,000 crore and expected sale and lease proceeds of approximately ₹5,152 crore, the projects are designed to generate revenue through the development and monetisation of the identified properties.
NBCC will receive a 6% project management consultancy fee and a 1.25% marketing fee for its role in implementing the projects.
About NBCC (India) Limited
NBCC (India) Limited is a Navratna public sector enterprise under the Ministry of Housing and Urban Affairs, Government of India. The company operates in project management consultancy, engineering, procurement and construction, and real estate development. It undertakes infrastructure and redevelopment projects for government departments, public sector organisations and other clients.
Read also: NBCC Achieves Record ₹5,191 Crore Sale in Single Residential E-Auction at Delhi’s Avenue Towers
