NBCC Secures Rs 15,000 Crore Project to Develop Satellite Township in Srinagar

State-owned NBCC has been awarded a Rs 15,000 crore contract by the Jammu & Kashmir government to develop a satellite township in Srinagar. The project, to be completed in phases over five years, includes residential, commercial, and luxury components, and aims to meet high sustainability standards.

State-owned firm NBCC has secured a landmark Rs 15,000 crore contract from the Jammu & Kashmir government to develop a 406-acre satellite township in Srinagar.

The project, awarded by the Srinagar Development Authority, was confirmed by the company's regulatory filing on Friday.

NBCC, which specializes in project management consultancy and real estate, will oversee the township’s development at Rakh-e-Gund Akshah, Bemina. The contract, valued at Rs 15,000 crore, covers a range of facilities including residential plots, luxury villas, apartment complexes, commercial office spaces, an indoor sports centre, and a 200-key five-star resort.