NBCC to develop Rs 150 billion satellite township in Srinagar

12 Aug 2024 CW Team

Srinagar Development Authority (SDA) and NBCC (India)., a government of India enterprise signed an MoU to implement development of a satellite township at Rakh Gund Aksha, Bemina, Srinagar, spread over approximately 406 acres. The project site is located adjacent to upcoming Medi City and High Court Complex. NBCC will implement the project from ‘concept to commissioning’ as project management and marketing consultant at an estimated cost of approximately Rs 150 billion.

The MoU was signed by Owais Ahmed, Vice Chairman, SDA and Sanjay Gupta, Executive Director, NBCC. The MoU was signed in the presence of Mandeep Kaur, Commissioner/Secretary, Housing and Urban Development Department, Government of J&K; KP Mahadevaswamy, Chairman and Managing Director, NBCC and Shri Ravi Arora, Joint Secretary of the Ministry of Housing and Urban Affairs (MoHUA)

The project, scheduled for completion over five years, will be developed in phases and include a diverse range of components. It will feature residential plots, luxury villas, apartment complexes, commercial office spaces an indoor sports centre and a 200-key five-star resort equipped with modern facilities and amenities. Additionally, the project will incorporate about 3,200 affordable housing units, each with an area of 45 sq m.

The project's development cost, site infrastructure, facilities, amenities, and affordable housing units will be funded through a self-sustaining model, relying on revenue generated from the sale of villas, commercial spaces and other components of the development. The project will also aim to achieve GRIHA or IGBC certification, ensuring it meets high standards of sustainability and environmental performance.

Upon completion, the project will serve as the New Town Centre for Srinagar residents and a major attraction for tourists.

Infrastructure Transport

27 Jun 2026

Noida Airport Fuels NCR Realty Growth

The start of commercial operations at Noida International Airport has recently emerged as a major trigger for real estate growth across Noida, Greater Noida and the Yamuna Expressway region. The airport is expected to improve regional connectivity and support the next phase of development in eastern NCR.The airport, inaugurated on 28 March, has begun passenger services, while cargo operations are also expected to strengthen its role as an economic and logistics hub. Its operationalisation is expected to reduce dependence on Delhi’s Indira Gandhi International Airport for residents and busine..

thyssenkrupp and GlobalLogic Form AI Alliance

thyssenkrupp AG and GlobalLogic, a Hitachi Group company, have recently formed a strategic alliance to deploy autonomous robotics and Physical AI across heavy industry operations. The partnership aims to improve safety, reduce engineering bottlenecks and accelerate industrial transformation at scale.The alliance brings together thyssenkrupp’s industrial expertise with Hitachi’s innovation capabilities. It includes GlobalLogic, Method and Hitachi America R&D, creating a “Lab-to-Scale” pipeline that connects research, digital strategy, design and enterprise software engineering for i..

Platinum Corp Launches Luxury Suites in Santacruz

Platinum Corp has recently launched Platinum Stellar: Bespoke Presidential Suites, a premium residential project in Santacruz West, Mumbai. The development is positioned as a boutique luxury offering for homebuyers seeking expansive layouts, privacy and personalised living experiences.Located on Main Avenue, the project has been designed as a low-density, high-end residential address with spacious homes starting from 2,500 sq ft and extending to full-floor residences. The project targets HNIs, business owners and legacy residents from the Bandra-Khar-Santacruz belt.Platinum Stellar has been de..