+
NBCC to develop Rs 150 billion satellite township in Srinagar
Company News

NBCC to develop Rs 150 billion satellite township in Srinagar

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.

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.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code