Patna Redevelopment Projects: NBCC signs MoU worth Rs 2,000 crore
Government-owned NBCC (India) has signed memoranda of understanding with various departments of the Bihar government for four redevelopment projects in Patna. The MoUs, worth Rs 2,000 crore, cover the following projects:
- Sector 5 (TV Tower) Residential Project: Residential redevelopment of the Bihar State Housing Board (BSHB) colony.
- Sector 6 (Bahadurpur) Residential Project: Residential redevelopment of the BSHB colony.
- Combined Residential Scope: Both housing projects together will deliver 3,331 flats across Economically Weaker Section (EWS), Low Income Group (LIG), Middle Income Group (MIG), and High Income Group (HIG) categories, complete with shopping complexes, clubhouses, gyms, community spaces, and offices.
- Gardanibagh IT Tech Park: Construction of a modern Information Technology (IT) Tech Park for the Department of Information Technology (DIT), Bihar, marking the state's first Tech Park.
- Bailey Road Commercial & Hospitality Project: Development of hotels and commercial spaces at the Water Resources Department site on Bailey Road.
These projects, spread across approximately 34.34 acres, are expected to generate sale and lease proceeds of about Rs 5,152 crore under a self-financing redevelopment model.
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