Lucknow: NBCC (India) Limited, a Navratna public sector enterprise under the Ministry of Housing and Urban Affairs, has signed a Memorandum of Understanding (MoU) with Sarkari Awas Nirman Avam Vitt Nigam Ltd to develop a large-scale mixed land-use project in Lucknow.
As per a regulatory filing on Monday, the project will span approximately 588 acres in Poorvi Vihar, Lucknow. This significant collaboration is set to bolster urban infrastructure and housing development in the region.
The project will be executed in phases, with Phase 1 involving NBCC taking possession of a 50-acre encumbrance-free site. NBCC will oversee planning, designing, and development for this phase, with an estimated value of ₹3,500 crore.
The execution model follows a deposit work basis, where NBCC will charge a 10% agency fee on the actual project cost, in addition to applicable GST and other taxes. This arrangement reflects NBCC’s trusted role as a leader in infrastructure development.
NBCC, known for its expertise in Project Management Consultancy (PMC) and real estate development, continues to contribute to India’s infrastructure and housing projects. With a portfolio that includes iconic developments across the country, this partnership underscores NBCC’s growing influence in urban transformation.
The project aligns with the government’s vision of expanding infrastructure and housing in key urban areas. The collaboration is expected to bring significant economic and developmental benefits to Lucknow, enhancing its position as a major urban hub.
