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
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