State-owned NBCC (India) Ltd has signed Memorandums of Understanding (MoUs) with various departments of the Bihar government to undertake four major redevelopment projects in Patna under Phase-I, with expected sale and lease proceeds of approximately Rs 5,152 crore.
The projects will be developed on a self-financing basis, without any financial assistance from the state government. The tentative project cost is estimated at around Rs 2,000 crore, excluding GST.
The four projects include the residential redevelopment of Bihar State Housing Board (BSHB) colonies at Sector 5 (TV Tower) and Sector 6 (Bahadurpur) in Patna. Together, these projects will provide 3,331 residential flats across EWS, LIG, MIG and HIG categories.
The residential developments will also feature shopping complexes, clubhouses, gyms, community facilities, office spaces and other supporting infrastructure.
The third project involves the development of Bihar’s first modern Information Technology (IT) Tech Park at Gardanibagh for the Department of Information Technology.
The fourth project involves the development of hotels and commercial spaces at the Water Resources Department site on Bailey Road in Patna.
The MoUs were signed in the presence of Bihar Chief Minister Samrat Choudhary, NBCC Chairman and Managing Director K P Mahadevaswamy, senior state government officials and NBCC representatives.
