SDA and NBCC MoU for Rs 15,000 Crore Satellite Township in Bemina

The Srinagar Development Authority (SDA) and NBCC India Limited signed an MoU for a Rs 15,000 crore satellite township in Bemina, covering 406 acres. The project includes residential plots, villas, apartments, commercial offices, and amenities, set to be completed in five years.

The Srinagar Development Authority (SDA) and NBCC India Limited have sealed an MoU to create a satellite township sprawled over 400 acres in Bemina, a city on the outskirts of Srinagar. The project carries a hefty price tag of Rs 15,000 crore.

Situated near the upcoming Medi City and High Court Complex in Rakh Gund Aksha, the township will spread over approximately 406 acres. Estimated at Rs 15,000 crore, NBCC will serve as the project's management and marketing consultant, overseeing the process from conception to commissioning.

The project will roll out in phases over five years, and will comprise residential plots, villas, apartments, commercial offices, an indoor sports center, and 5-star resorts. About 3,200 affordable housing flats of 45 sqm each are also part of the plan, with a self-sustaining funding model reliant on revenue from sales of the proposed development elements. Once concluded, this township aims to be a new hub for Srinagar's residents and tourists alike.

(With inputs from agencies.)