Joint Venture13 Jan 2025, 06:28 pm
NBCC (India) Limited Enters MoU with Sarkari Awas Nirman Avam Vitt Nigam Ltd for Mixed Land Use Development of Poorvi Vihar, Lucknow
AI Summary
NBCC (India) Limited has entered into a Memorandum of Understanding (MoU) with Sarkari Awas Nirman Avam Vitt Nigam Ltd for the execution of mixed land use development of Poorvi Vihar, Lucknow, approximately admeasuring 588 Acre. NBCC, as the Project Management Consultant, has been assigned with the work of taking possession, planning, designing and development of encumbrance free site admeasuring 50 acres as phase 1 of the Project, having an approximate value of Rs. 3,500 crores. The project will be executed on a 'deposit on work' basis with agency charges at 10% on the actual cost of the project plus GST & taxes as per applicable rates.
Key Highlights
- NBCC (India) Limited has entered into a Memorandum of Understanding (MoU) with Sarkari Awas Nirman Avam Vitt Nigam Ltd
- The MoU is for the execution of mixed land use development of Poorvi Vihar, Lucknow, approximately admeasuring 588 Acre
- NBCC has been assigned with the work of taking possession, planning, designing and development of encumbrance free site admeasuring 50 acres as phase 1 of the Project
- The phase 1 project has an approximate value of Rs. 3,500 crores
- The project will be executed on a 'deposit on work' basis with agency charges at 10% on the actual cost of the project plus GST & taxes as per applicable rates