NBCC and MTNL Join Forces for Rs 1,600-Crore Development Project in Delhi

State-owned NBCC (India) Ltd has signed a Memorandum of Understanding (MoU) with Mahanagar Telephone Nigam Ltd (MTNL) to develop a Rs 1,600-crore housing-cum-commercial project on a 14-acre land parcel owned by MTNL on Pankha Road in New Delhi. The project will be executed in phases over three years.

State-owned NBCC (India) Ltd has entered into an agreement with Mahanagar Telephone Nigam Ltd (MTNL) to develop a Rs 1,600-crore housing-cum-commercial project in New Delhi.

The Memorandum of Understanding (MoU) aims to transform approximately 14 acres of MTNL land on Pankha Road into a state-of-the-art residential and commercial space. Resources and expertise from both organizations will be leveraged for this ambitious project.

The MoU was signed in the presence of key officials, including K P Mahadevaswamy, CMD of NBCC, and A Robert J. Ravi, CMD of MTNL. The project will be executed over three years and involves master planning, architectural design, and compliance with local town planning norms.

(With inputs from agencies.)