Srinagar to Get Luxury Villas and Affordable Housing: NBCC Wins Rs 15,000 Cr Contract
NBCC to develop 406-acre residential township in Srinagar with luxury villas, affordable housing, and commercial spaces.
NbccSrinagarLuxury VillasAffordable HousingResidential TownshipReal Estate NewsAug 12, 2024
The project, awarded by the Srinagar Development Authority (SDA), will transform a 406-acre site at Rakh-e-Gund Akshah, Bemina, into a vibrant new community. The development will feature a variety of amenities, including residential plots, luxury villas, apartment complexes, and commercial spaces.
In addition to these, the township will also have an indoor sports center and a 200-key five-star resort. Around 3,200 affordable housing units will be part of the project, each covering 45 square meters.
The township will be completed in five phases over the next five years. This project is expected to become a new hub for Srinagar residents and attract tourists. The project will add significant value to the area.
The Memorandum of Understanding (MoU) for the project was signed on August 8 by Owais Ahmed, Vice Chairman of SDA, and Sanjay Gupta, Executive Director of NBCC, with notable officials from both the Jammu & Kashmir Government and NBCC in attendance.
About NBCC
NBCC (India) Limited, originally called National Buildings Construction Corporation Limited, is a major Indian government-owned company. It was set up in 1960 as a private company and became public in 2011. NBCC is part of the Ministry of Housing and Urban Affairs and is one of the government’s top enterprises.
The company works on construction projects both in India and abroad. It is divided into three main areas Project Management Consultancy (PMC), Engineering Procurement & Construction (EPC), and Real Estate.
Frequently Asked Questions
What is the value of the contract won by NBCC?
Rs 15,000 crore
Where will the residential township be built?
Rakh-e-Gund Akshah, Bemina, Srinagar
What amenities will the township feature?
Residential plots, luxury villas, apartment complexes, commercial spaces, indoor sports center, and a 200-key five-star resort
How many affordable housing units will be part of the project?
3,200
When is the project expected to be completed?
In five phases over the next five years
Related News Articles
Mumbai Secures Second Spot Globally for Surge in Prime Property Prices
Mumbai ranks second globally with a 13% annual rise in prime residential property prices, up from 6th place last year.
Deepika Padukone's Luxury Apartment Purchase in Bandra: A ₹17.7 Crore Addition to Her Real Estate Portfolio
Deepika Padukone's business venture, KA Enterprises, has purchased a luxurious apartment in Mumbai's posh Bandra West area for ₹17.7 crore, adding to her growing real estate portfolio in the city's most sought-after neighborhood.
PM Modi on India's Rapid Telecom Growth and Its Global Influence
Prime Minister Narendra Modi highlights India's rapid advancements in the telecom sector and its growing global impact, transforming real-time digital transactions and market updates.
Eldeco: A Legacy of Excellence in Real Estate
New Delhi [India], October 21: Since its inception, The Eldeco Group has been a pioneer in real estate development across North India, setting new benchmarks in quality, innovation, and customer satisfaction.
551 Candidates File Nominations for 21 Assembly Seats in Pune District
A total of 551 candidates have submitted their nominations for the 21 Assembly seats in Pune district. The highest number of candidates is from the Pimpri constituency, with 39 nominations, while the Junnar constituency has the lowest with 17 nominations.
Birla Estates Acquires 70.92-Acre Land Parcel in Boisar, Maharashtra for Future Projects
Realty developer Birla Estates, a prominent subsidiary of Aditya Birla Real Estate, has made a strategic move by acquiring a significant 70.92-acre land parcel in Boisar, Maharashtra. This acquisition is expected to bolster the company’s portfolio and pav