NBCC (India) Limited, a Navratna public sector enterprise under the Ministry of Housing and Urban Affairs, has signed a Memorandum of Understanding (MoU) with Sarkari Awas Nirman Avam Vitt Nigam Ltd for a significant mixed land-use development project in Lucknow.
According to a regulatory filing made on Monday, the project spans approximately 588 acres in Poorvi Vihar, Lucknow.
Key Highlights of the Project:
- Phase 1 Details:
- NBCC will take possession of a 50-acre encumbrance-free site.
- Planning, designing, and development will be undertaken by NBCC.
- The estimated value of Phase 1 is approximately ₹3,500 crore.
- Execution Model:
- The project will be executed on a deposit work basis.
- NBCC will charge a 10% agency fee on the actual project cost, along with applicable GST and other taxes.
About NBCC:
NBCC specializes in Project Management Consultancy (PMC) and real estate development, contributing to infrastructure and housing projects across the country.
This collaboration reflects NBCC’s growing portfolio and underscores its role in urban development, aligning with the government’s vision for infrastructure and housing expansion.
