Realty firm NBCC announced on Monday that it will manage major development and redevelopment projects in Goa with an estimated value of Rs 10,000 crore. In the first phase, six specific projects worth over Rs 1,700 crore will commence, according to a company statement.
Operating under a self-sustaining model, the projects will not require budgetary funding from the Goa government. However, the state will need to authorize NBCC to secure loans from banks, using land parcels as collateral if initial funding is needed, which will be repaid through generated revenues.
An MoU previously signed between NBCC and the Goa government enables these phased projects. The six confirmed projects include commercial and mixed-use developments at locations like Junta House and MG Road in Panjim, as well as an administrative building in Porvorim, a circuit house and hotel in Altinho, and residential spaces for government staff in St Inez. The combined plot area is approximately 53,000 square meters, with a built-up area around 1,85,000 square meters.
These projects are expected to generate over Rs 1,700 crore in revenue. Additionally, NBCC will conduct a feasibility study for redeveloping the Vasco bus stand and will serve as Project Management Consultant for future government-funded projects in sectors like education and healthcare. The Goa government will retain a portion of the built-up area after project costs are covered.
