NBCC signs MoU for ₹3,500 crore project in Lucknow’s Poorvi Vihar

NBCC (India) Limited has entered into a Memorandum of Understanding (MoU) with Sarkari Awas Nirman Avam Vitt Nigam Ltd. Under this agreement, NBCC will act as the project management consultant for the mixed land use development of Poorvi Vihar, Lucknow, covering approximately 588 acres. Key Highlights of the Project: Advertisement Phase 1 Development: The initial […]

NBCC (India) Limited has entered into a Memorandum of Understanding (MoU) with Sarkari Awas Nirman Avam Vitt Nigam Ltd. Under this agreement, NBCC will act as the project management consultant for the mixed land use development of Poorvi Vihar, Lucknow, covering approximately 588 acres.

Key Highlights of the Project:

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  1. Phase 1 Development: The initial phase involves planning, designing, and developing an encumbrance-free 50-acre site. The estimated value of this phase is ₹3,500 crore.
  2. Execution Terms: The project will be executed on a “deposit on work” basis. NBCC will charge agency fees at 10% of the actual project cost, plus applicable GST and other taxes.
  3. Scope of Work: The responsibilities include possession, planning, and design for the assigned land.

This project aligns with NBCC’s routine business operations. Further details are available on the company’s website.