National Buildings Construction Corporation (NBCC) to build 10,000 housing units by 2018
State-run construction giant NBCC plans to aggressively tap the real estate market and targets to build 10,000 housing units by 2018, entailing an investment of about Rs 6,000 crore.
The company has massive plans to aggressively launch projects across the country and build 10,000 houses in the next five years. The total cost would come around roughly Rs 6,000 crore.
NBCC has procured 145 acres of land so far and these projects would not be costlier than market and there would be no uncertainty or hidden cost.
The company will take up five projects in the current fiscal, of which two at Okhala and Alwar have been launched and it plans to launch a project in Ghitorni for building 2,000 housing units
The construction cost of the project will be abour Rs 15,000 crore and 80 per cent of the area will be for residential projects.
The company was doing re-development work as well and work has begun on East Kidwai Nagar project worth Rs 5,000 crore. This is self-sustainable on 1.5 million sq ft area and booking for Rs 4,000 crore has already been made. The project includes 400 houses which will be given on 30-years lease to government and PSUs. Eighty per cent property has been booked on long lease.
Those booking commercial space include EPFO office, IDBI bank, Punjab & Sindh Bank, ONGC, Indian Oil. The government has also given redevelopmnet work of three more companies to it - Netaji Nagar, Kasturba Nagar and Tyagraj Nagar which will entail a cost of Rs 15,000 crore.
State-run construction giant NBCC plans to aggressively tap the real estate market and targets to build 10,000 housing units by 2018, entailing an investment of about Rs 6,000 crore.
The company has massive plans to aggressively launch projects across the country and build 10,000 houses in the next five years. The total cost would come around roughly Rs 6,000 crore.
NBCC has procured 145 acres of land so far and these projects would not be costlier than market and there would be no uncertainty or hidden cost.
The company will take up five projects in the current fiscal, of which two at Okhala and Alwar have been launched and it plans to launch a project in Ghitorni for building 2,000 housing units
The construction cost of the project will be abour Rs 15,000 crore and 80 per cent of the area will be for residential projects.
The company was doing re-development work as well and work has begun on East Kidwai Nagar project worth Rs 5,000 crore. This is self-sustainable on 1.5 million sq ft area and booking for Rs 4,000 crore has already been made. The project includes 400 houses which will be given on 30-years lease to government and PSUs. Eighty per cent property has been booked on long lease.
Those booking commercial space include EPFO office, IDBI bank, Punjab & Sindh Bank, ONGC, Indian Oil. The government has also given redevelopmnet work of three more companies to it - Netaji Nagar, Kasturba Nagar and Tyagraj Nagar which will entail a cost of Rs 15,000 crore.
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