RDB Real Estate Constructions Secures INR 29.12 Crore Wellness Center Project in Nava Raipur
RDB Real Estate Constructions Limited has secured a major infrastructure development contract in Chhattisgarh, marking a significant milestone in the company's expansion into wellness and recreational projects. The Kolkata-based real estate developer received the Letter of Award on March 20, 2026, for developing an Iconic Wellness Center at Nava Raipur Atal Nagar.
The awarded project encompasses the development of an Iconic Wellness Center at Plot LI/S39/B in Sector-39, Nava Raipur Atal Nagar. The comprehensive project details are outlined below:
| Parameter: | Details | |-----------------------|----------------------------------------| | Project Location: | Sector-39, Nava Raipur Atal Nagar | | Total Project Area: | 21.61 acres (87,463.31 sq.mt) | | Land Premium Rate: | INR 3330.00 per sq.mt | | Total Land Premium: | INR 29,12,52,830 | | Reserved Land Premium:| INR 3200.00 per sq.mt | | Tender Number: | NIT No.8589/R-23/PRJ/NRANVP/2025 | | System Tender Number:| 178127 dated 24/10/2025 |
The company's winning bid of INR 3330.00 per square meter represents a premium of INR 130.00 over the reserved land premium of INR 3200.00 per square meter, demonstrating competitive positioning in the tender process.
The Nava Raipur Atal Nagar Vikas Pradhikaran has outlined specific payment options for RDB Real Estate Constructions Limited:
| Payment Option: | Amount | Timeline | |-----------------------|---------------------------|------------------| | Full Payment: | INR 26,31,52,830 | Within 90 days | | First Installment (25%):| INR 4,47,13,208 | Within 90 days | | Balance Payment: | As per Clause 7 of RFP | Scheduled installments |
The amounts mentioned above are calculated after deducting the Earnest Money Deposit (EMD) from the total accepted land premium. If the company opts for installment payments, it must furnish an irrevocable and unconditional bank guarantee for the balance land premium amount.
The project operates under a comprehensive lease structure with the following key terms:
- Lease Duration: 30 years from the date of signing the lease agreement - Extension Options: Two additional terms of 30 years each - Annual Lease Rent: First year's rent must be deposited within 90 days - Rent Escalation: Maximum 100% increase every 30 years - Governing Regulations: Chhattisgarh Vishesh Kshetra (Achal Sampatti ka Vyayan) Niyam, 2008
RDB Real Estate Constructions Limited must fulfill several compliance requirements within specified timeframes:
- Execute the lease agreement within 90 days of the Notice of Award - Return signed copy of the Notice of Award within 7 days - Deposit land premium and first year's annual lease rent within 90 days - Failure to meet the 90-day deadline for lease agreement execution will result in additional charges of 2% per annum on the accepted land premium
The project represents a significant addition to RDB Real Estate Constructions Limited's portfolio, positioning the company in the growing wellness and recreational infrastructure segment in Chhattisgarh's planned city development.
