Event Description
NBCC (India) Limited has signed Memorandum of Understanding with various departments of the Government of Bihar to undertake four redevelopment projects in Patna under Phase-I. The signing ceremony took place in the presence of the Hon'ble Chief Minister of Bihar, Shri Samrat Choudhary, Shri K. P. Mahadevaswamy (CMD-NBCC), other dignitaries of the State Government, and officials of NBCC.
Project Details
The four redevelopment projects are:
1. Residential redevelopment of BSHB colony at Sector 5 (TV Tower), Patna
2. Residential redevelopment of BSHB colony at Sector 6 (Bahadurpur), Patna
- Items (i) and (ii) together will provide 3,331 residential flats for EWS, LIG, MIG and HIG categories
- Includes shopping complexes, clubhouses, gyms, community facilities, office spaces and other supporting facilities
3. Modern IT Tech Park for DIT Bihar at Gardanibagh, Patna (the first Tech Park of the State)
4. Hotels/commercial spaces at Water Resources Department site, Bailey Road, Patna
Financial Details
- Funding Model: Self-financing basis without budgetary assistance from the State Government
- Expected Sale/Lease Proceeds: ₹5,152 crore (approx.) pursuant to the cabinet note of the Urban Development and Housing Department, Govt. of Bihar, and MOUs
- Tentative Project Cost: ₹2,000 crore (approx.) exclusive of GST
- PMC Charges: 6%
- Marketing Fee: 1.25%
Additional Information
- Project-wise details would be provided in due course
- The disclosure is available on the company's website: https://www.nbccindia.in/webEnglish/announcementNotices
- Signed by Deepti Gambhir, Company Secretary (F-4984)