Moneycontrol
Last Updated : | Source: Moneycontrol.com

NBCC eyeing co-development projects; policy to be ready by next week

To submit DPR of stuck Amrapali projects next week

Vandana Ramnani @vandanaramnani1

Besides taking up stalled projects in larger public interest such as that of Amrapali, the state-owned NBCC is planning to co-develop other real estate development for which a new policy would be ready within a week, its CMD Anoop Kumar Mittal told reporters on November 1.

"We can act as project management consultant or co-developer or developer for real estate projects," he said, adding that projects could be executed in JV mode.

It will also submit a detailed project report (DPR) of Amrapali Group's 16 stalled projects to the Supreme Court next week.

“We will be ready with a new policy by next week under which we can act as project management consultant or co-developer or developer for real estate projects. It would entail taking on projects that are incomplete/undelivered in larger public interest or even new projects where land belongs to somebody else,” he told reporters.

On the Amrapali issue, Mittal said the company has issued tenders for 10-11 out of the 16 stalled projects. "In next one week, we will issue tenders for 5-6 projects. The DPR for all 16 projects will be submitted to the apex court in one week's time," he said.

As for other Amrapali projects, he said work would start after approval from the Supreme Court. As for finances, he said that too would be decided by the apex court.

Asked about stalled construction works at Netaji Nagar and Sarojini Nagar, Mittal said NBCC would be in a position to start construction works at Netaji Nagar and Sarojini Nagar redevelopment projects in the next two months after High Court gave clearance to its revised plan. The company would take fresh approvals from the local bodies, if needed.

"We have started redesigning the project as per our revised plan submitted to the court," he added.

He said the company had bagged two projects in the national capital from Air India and expects to start work in the next 3-4 months.

On railway station redevelopment, he said the company has started work on two stations and would soon begin work on two other stations. The tenders for six other stations would also be floated soon.

"By March, construction work in all 10 rail projects will start. We hope to complete these projects on time," he said.

"We have started work in two stations - Lucknow and Gomti Nagar.  Work inTirupati and Pondicherry will begin in a month and for the remaining projects in Goa, Thane, Kochi and Nellore, tenders will be floated in some time," he added.

Vandana.ramnani@nw18.com
First Published on Nov 1, 2018 10:19 pm
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