National Buildings Construction Corporation Limited - The Company Profile
Real Estate
Real Estate is one of the major areas of Corporation. Entering the sector in 1985, NBCC has executed a number of Commercial Real Estate Projects at various major towns of the country viz Delhi, Kolkata, Vadodara, Cuttack, Tripura, Ahmedabad etc. To provide quality housing to Govt. and Public Sector Employees and also to the general public, the Corporation has, of late, started its venture into Residential Real Sector and has launched its first Residential Real Estate Project "NBCC VIBGYOR TOWERS" in Kolkata. A few more mega Housing Projects are also to be launched in near future.
To meet the requirement of General Pool Residential Accommodation (GPRA) and General Pool office Accommodation (GPOA), the Ministry of Urban Development (MoUD) of the Govt. of India is exploring the possibility of densification of the existing GPOA/GPRA through Re-development Schemes. While one scheme at Netaji Nagar is under construction and one scheme at East Kidwai Nagar in the Capital has already been entrusted to the Corporation by the MoUD. In addition, projects such as Re-development of INA Market and Sarojani Nagar Areas are also under active consideration of the Government through NBCC.
NBCC has also ventured into buying potential plots, through participation in open auction as well as purchase from Central Govt./ PSU and State PSUs. One plot measuring 8597 sqm at Okhla (Phase-I), New Delhi was bought by NBCC through auction for Rs. 135.37 crores and other plots measuring 3.1813 acres at Kochi for Rs.1.10 crores from CGEWHO and residential land measuring 4.375 acres at Bahadurpur, Patna for about Rs.21.18 crores from Bihar State Housing Board(BSHB), Patna.
Besides the above ventures, NBCC has taken some sincere JV initiatives too, for associating itself with the agencies that are having land at prime locations in major developing cities /towns. A few such projects are likely to mature soon in Kolkata, Faridabad, Delhi etc. In one of its important drives, the Corporation has recently formed JV with National Textile Limited at Gujarat for development of their land at Ahmedabad into a modern complex called as Indian Textile Plaza. Further, it is also exploring the possibility of forming JV with leading groups like IDPL, AAI, HMT & HIL, who are having land at important cities and towns of the country and are keen to develop these lands through JV system.
With the liberalised Government policy on FDI in Real Estate Sector in the country, NBCC has formed alliances/signed MoUs with some venture capital firms of USA, Malaysia etc. and is aiming to take up Mega Real Estate Projects.
NBCC is also planning to enter into Automated Multi-level car parking (MLCP) projects. Construction of Automated Multi-level car parking on Built Operate & Transfer (BOT) basis at Pragati Vihar, & at CGO Complex, New Delhi is at the planning stage.
NBCC had invited Expression of Interest (EOI) from Govt./PSU employees for sale of Residential Apartments in Gurgaon, in March, 2009 & about 21,000 applicant expressed their confidence in NBCC. NBCC is planning to formally launch 'Gurgaon Affordable Housing Scheme' shortly.
The recently launched low cost residential scheme 'NBCC Town' at Khekhra, UP is getting huge response from the Govt./PSU employees as well as general public.
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