NBCC (India) Ltd.

National Buildings Construction Corporation (NBCC) has received a letter of intent (LOI) from Ministry of Urban Development for construction of 4,747 dwelling units upon redevelopment of Kidwai Nagar (East) in Delhi for general pool residential accommodation (GPRA).

The estimated cost of the project is approximately Rs 4,264 crore including maintenance of GPRA complex for 30 years. The company will be paid project management charges at the rate 10% of the project cost. Besides, the completion period of the proposed project is 60 months.

Further, NBCC would invest Rs 200 crore towards initial construction with internal rate of return (IRR) of 15%. The cost of project would be met from lease of 10% of commercial office space plus residential area for a period of 30 years to Government Departments / Ministries and PSUs.

NBCC presently operates under Ministry of Urban Development and has also received ‘Excellent’ rating from the same for each of the fiscal years from 2004 to 2010. Ministry of Heavy Industries & Public Enterprises has awarded the company with an ‘Excellence Award.’