NBCC to take up re-development/development Projects worth Rs. 10,000 crore approximately in Goa

•         Projects to be implemented in phases

•         Projects worth more than Rs. 1700 Crore to be undertaken in First Phase

Projects are planned to be undertaken on self-sustainable basis/PMC Mode

 

In a recent development, NBCC is all set to carry out major development/re-development works in Goa worth Rs 10,000 crore approximately. These projects are to be taken up in phases. In the first phase, 6 projects in Goa are set to be taken up for execution with an estimated value of more than Rs. 1,700 Crore by NBCC. This initiative marks a significant milestone in NBCC's commitment to sustainable development and infrastructure enhancement, reinforcing the corporation's pivotal role in India's urban development landscape.

 

Under a unique self-sustainable model, these projects will be developed without any budgetary support from the Government of Goa, showcasing a forward-thinking approach that prioritizes innovation and revenue generation. However, the Government of Goa shall authorize NBCC to raise loan from financial institutions/banks to meet the initial expenditure, if required, by mortgaging land parcels which shall be repaid from the monetization revenue. The collaboration aims to revitalize vacant and underutilized lands, as well as dilapidated buildings, thereby optimizing asset utilization and maximizing returns for the Government of Goa.

 

Earlier, NBCC had inked an MoU with Government of Goa for carrying out various development/redevelopment works in Goa. Under the MoU such works will be undertaken by in a phased manner.

 

Brief of Projects to be taken up in First Phase:

 

As per the in-principle approval, NBCC will execute 6 projects in Goa namely, commercial (retail & office/hotel) space at Junta House, 18^th June Road, Panjim, commercial (retail & office/hotel) space at Govt Garage, M.G. Road, Panjim, administrative building at Porvorim, circuit house and hotel at Altinho, Panjim, commercial and residential space for government quarters at St. Inez and commercial (retail & office/hotel) space for Mini Convention Centre at Tiswadi Patto. The total plot area of these 6 projects is around 53,000 sqm, with a built-up area of approximately 1,85,000 sqm. The expected revenue generation from these projects will be more than Rs 1,700 Crore. In addition to the above projects, NBCC shall also be responsible for feasibility study and findings of redevelopment of Vasco bus stand.

 

The Government of Goa would also retain a portion of built-up area in the above projects after meeting the project expenses. NBCC shall also work as Project Management Consultant (PMC) for any other development works in which Government of Goa is providing the funding such as education, health or any other works as deemed fit from time to time.

 

NBCC is pioneering the work of redevelopment and is executing various projects on vacant/under -utilized/unused land parcels and colonies in various parts of the country. In New Delhi, NBCC has successfully, re-develop New Moti Bagh and East Kidwai Nagar. The Company is currently re-developing Nauroji Nagar, Sarojini Nagar and Netaji Nagar as a part of re-development of 7 GPRA colonies. The uniqueness of this project has been that it is on self-sustainable basis and there is no liability on the part of public exchequer. NBCC is also aggressively expanding its footprints in other parts of the country under its redevelopment/development model on self-sustainable basis having recently secured works in Srinagar valuing Rs. 15,000 Crore and Kochi valuing Rs. 2,000 Crore.