NBCC signs MoU with Meerut Development Authority for construction of Stalled /Redevelopment projects

NBCC (India) Ltd., a Navratna Central Public Sector Enterprise under the Ministry of Housing & Urban Affairs, Government of India, has signed a Memorandum of Understanding (MoU) with the Meerut Development Authority (MDA) for “Construction of Stalled / Re-Development Projects in Township of Meerut Development Authority at Meerut”. The estimated project cost is approximately Rs. 296.53 crore. The MoU was signed by Shri Pradeep Sharma, Executive Director, NBCC and Shri Vijay Kumar Singh, Chief Town Planner, MDA in the august presence of Shri Sanjay Kumar Meena, IAS, Vice Chairman, MDA

 

The MoU, outlines NBCC’s role as the executing and implementing agency for the project. The redevelopment will cover stalled residential and commercial properties, including sites at Sector 4C in Shatabdi Nagar, Lohiya Nagar, Vikas Vihar in New Mohanpuri and other identified locations. NBCC will act as an executing/implementing agency for the development of identified land parcel of MDA on NBCC’s self-sustainable redevelopment model.

 

NBCC will incorporate advanced state of art technologies during construction, minimizing the pollution hazard, improving quality and reducing the overall completion timelines.The design of proposed development/construction of the project shall be user-friendly for disabled persons and accessibility features for differently-able persons.

 

The project is expected to be completed in a phased manner within three years from the date of commencement, following all necessary statutory approvals. An Empowered Committee comprising officials from both NBCC and MDA will oversee the project, including approvals, fund management and monitoring of progress through a dedicated escrow mechanism.