NBCC Signs MoU with Bihar Govt for Patna Redevelopment Projects

NBCC (India) Ltd has signed a Memorandum of Understanding (MoU) with various departments of the Government of Bihar to undertake four redevelopment projects in Patna under Phase-I. These projects will be undertaken on a self-financing basis without budgetary assistance from the State Government. The projects include residential redevelopment of BSHB colonies (providing 3,331 flats), a modern IT Tech Park, and commercial spaces. The expected sale/lease proceeds are approximately ₹5,152 crore, with a tentative project cost of approximately ₹2,000 crore (exclusive of GST). NBCC will receive PMC charges of 6% and a marketing fee of 1.25%.